Prince Charles: ‘Coronavirus pandemic is a chance to reset the economy.

Photo: Daily Mail

Executive Summary

‘Prince Charles made an impassioned speech at the World Economic Forum's virtual meeting yesterday, where he stressed the importance of using the outcome of the pandemic to reset the global economy. The royal spoke about the need to prioritise sustainable development without damaging the environment.

"We have a unique but rapidly shrinking window of opportunity to learn lessons and reset ourselves on a more sustainable path," he said, according to The Guardian. "We have a golden opportunity to seize something good from this crisis. Its unprecedented shockwaves may well make people more receptive to big visions of change."

Charles' speech was part of the launch for The Great Reset, a project involving the World Economic Forum and the Prince of Wales’s Sustainable Markets Initiative, which hopes to rebuild the economic and social system to be more sustainable.

The royal then set out a five-point plan of how to seize this opportunity which involved capturing the imagination and will of humanity, rebalancing investments to accelerate the green economy and redesigning systems and pathways to enforce carbon pricing.’

Pandemic is a chance to reset the global economy, says Prince Charles*

Prince of Wales unveils a five-point plan to stimulate sustainable economic growth- A report by Phillip Inman, economics editor of the Observer and an economics writer for the Guardian

‘The recovery from the coronavirus crisis represents an opportunity to reset the global economy and prioritise sustainable development without further damaging the planet, Prince Charles said at the opening of a World Economic Forum (WEF) virtual meeting.

Outlining a five-point plan to rebuild economies following a global recession, the 71-year-old prince said the pandemic was the result of a breakdown in the link between humanity and nature that could be corrected by recognising “the interdependence of all living things”.

The prince emphasised that the private sector would be the engine of recovery and was heartened by the pledges from business leaders to recognise the damage to the environment that would result from an unfettered dash for growth.

“We have a unique but rapidly shrinking window of opportunity to learn lessons and reset ourselves on a more sustainable path,” said Charles, who himself has recovered after suffering mild symptoms of Covid-19.

He said that the pandemic, which has forced governments worldwide to mothball their economies, had showed people that dramatic change was possible.

“We have a golden opportunity to seize something good from this crisis. Its unprecedented shockwaves may well make people more receptive to big visions of change,” he added.

The five points he outlined were:

  • To capture the imagination and will of humanity – change will only happen if people really want it.
  • The economic recovery must put the world on the path to sustainable employment, livelihoods and growth. Longstanding incentive structures that have had perverse effects on our planetary environment and nature herself must be reinvented
  • Systems and pathways must be redesigned to advance net zero transitions globally. Carbon pricing can provide a critical pathway to a sustainable market.
  • Science, technology and innovation need re-invigorating. Humanity is on the verge of catalytic breakthroughs that will alter our view of what is possible and profitable in the framework of a sustainable future.
  • Investment must be rebalanced. Accelerating green investments can offer job opportunities in green energy, the circular and bio-economy, eco-tourism and green public infrastructure.

The WEF, which stages an influential annual gathering of business and political leaders at its annual meeting in the Swiss ski resort of Davos, has come under fire from anti-poverty groups in recent years for failing to tackle climate change and executive pay.

Charles’s speech was part of a launch event for The Great Reset, a project involving the WEF and the Prince of Wales’s Sustainable Markets Initiative, aimed at rebuilding the economic and social system to be more sustainable.’

Great Reset | Prince Charles  | ‘Coronavirus pandemic is a chance to reset the economy.’:  Watch the Video

…...

Speaking at the same event, International Monetary Fund boss Kristalina Georgieva said the world economy faced a similar situation to the UK in the second world war. She urged global leaders to recognise the success of the 1942 Beveridge report, which put forward reforms to raise welfare and health standards across Britain, and was ready to be implemented when the war was over.

“The best memorial we can build to those who have lost their lives is a greener, smarter, fairer world.”

Great Reset | Kristalina Georgieva | How will history judge this ...

Photo: YouTube

“That led to a better country after the war and to a National Health Service that is saving so many lives today. We have to use all the strength we have to turn a page and have history be about the Great Reset and not the Great Reversal.” She added: “The best memorial we can build to those who have lost their lives is a greener, smarter, fairer world.”

Great Reset | Kristalina Georgieva | How will history judge this moment?: Watch the Video

…...

Conclusion

All said and done, I must admit, I was delighted to hear what Prince Charles or indeed, Kristalina Georgieva had to say about how we may reset the post-COVID-19 global economy.

However, to my mind, a very long-term academic-activist, nothing will change for the better and we will not succeed in building a better, kinder and more just world, if we do not take the following three steps first and foremost:

To reverse the current inhumane, unfair and unjust path we need a different model of education and we need a different economic value and economy. However, these are not possible to achieve so long as  The Fraudulent Ideology reins supreme. Full stop. Carpe Diem!

And now a bit more from the GCGI Archives:

'We are an integral part of Nature, which we cherish, revere and preserve in all its magnificent beauty and diversity. We strive to live in harmony with

Nature locally and globally. We acknowledge the inherent value of all life, human and non-human, and treat all living beings with compassion and respect.'-Photo:bing.com

A Sure Path to build a Better World: How nature helps us feel good and do good

On the 250th Birthday of William Wordsworth Let Nature be our Wisest Teacher

The Sweetness of Being Human: ‘We have all of us one human heart.’

Dear Mr. Johnson, your Covid-19 survival must become a force for good

Healing Our Way to a more Caring, Kinder and Fairer Society: A View from a CEO and a Recovered Economist

Breaking News! The Boss of JP Morgan has Come Out! He is Calling for Business and the Government for the Common Good!!

Kindness to Heal the World- Kindness to Make the World Great Again

A look at the biggest casualty of Boris Johnson’s COVID-19 Britain, without which life becomes meaningless

Rethinking Education at the Time of Coronavirus Crisis: The Time is Now to Explore the Benefits of Nature-Based Education in Our Teaching Models

The healing power of ‘Dawn’ at this time of coronavirus crisis

Can there ever be a Compassionate Capitalism?

An Open Letter to Prof. Klaus Schwab, WEF, Davos

Is this the way to make America great again?

Top