Prince Charles encourages businesses to turn 'waste into wealth'

Written by: Jo Gallacher | Published:
Prince Charles shakes hands with Gavin Graveson executive vice president of UK & Ireland for Veolia

Prince Charles has encouraged businesses to turn their ‘waste to wealth’ to prevent climate change.

His comments were made during a visit to Veolia’s Integrated Waste Management Facility in Southwark this week for the Waste to Wealth Summit.

Business in the Community (BITC), The Prince’s Responsible Business Network, brought together 200 leaders from business, government, academia at the summit to commit to work together to double the nation’s productivity and reduce avoidable waste by 2030.

Prince Charles delivered a keynote speech addressing the urgent need to tackle the resource issue and explaining why business can achieve this.

The event was attended by environment secretary Michael Gove alongside environmental campaigners Hugh Fearnley-Whittingstall and Emily Penn.

Burger King, European Metal Recycling, Interface, JLL, Nestle, Sainsbury’s and Sodexo were announced as Waste to Wealth Champions.

These brands will now develop innovation hubs to identify challenges, create roadmaps and start to develop solutions to resource issues, reporting annually toThe Prince’s Responsible Business Network.

Over 40 businesses, including Deloitte, Heineken and Lloyds Banking Group, signed the Waste to Wealth commitment.

Businesses must now set targets to improve productivity of resources, work together to reduce avoidable waste, redesign how resources are used, collaborate and report on progress.

The environment secretary also delivered a speech detailing how the government will support businesses stepping up to the challenge.

He said: “We need to cut avoidable waste and start looking at the waste we do produce as a valuable resource.

“By working together we can all play a part in eliminating unnecessary waste to leave the environment in a better state for future generations.”

By signing the commitment, businesses also recognise the Intergovernmental Panel on Climate Change (IPCC) conclusion that we only have 12 years to change our relationship with the resources we use to avoid ‘catastrophic’ climate change.


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