Prince Charles Invested As ‘Extraordinary Commander’; Joins Roundtable On Sustainable Finance
OTTAWA: The Prince of Wales and The Duchess of Cornwall arrived in Newfoundland on May 17 and Labrador at the start of their Royal Visit to Canada.
They were received with an official ceremony at St. John’s airport by Governor General Mary Simon. Attending the event was Prime Minister Justin Trudeau, Indigenous leaders and federal and provincial dignitaries. The prince and duchess are in Canada as part of celebrations marking the platinum jubilee of Queen Elizabeth II. Their three-day tour also included stops in Ottawa and the Northwest Territories.
The Governor-General said: “Your Royal Highnesses, welcome to Canada. The Crown has been an important part of our past, and I know you are committed to the work we must all do to build a better future for the next generation – and the ones after that. This visit is a chance for us to showcase the evolution of our country, our diverse and inclusive society, as well as the resilience of Indigenous communities.”
The Prince of Wales’s first official tour to Canada was in 1970 and this visit will be the 19th time His Royal Highness has visited the country, having visited all ten provinces and three territories in the past. This will be The Duchess of Cornwall’s fifth official visit; Her Royal Highness’s first tour of Canada was more than a decade ago in November 2009.
At a special reception at the Governor General’s residence Rideau Hall on Wednesday GG Simon invested His Royal Highness The Prince of Wales as an Extraordinary Commander of the Order Of Military Merit.
On Wednesday, Minister of Environment and Climate Change, Steven Guilbeault, hosted a roundtable alongside CJustin Trudeau, and His Royal Highness The Prince of Wales to harness the power of sustainable finance in fighting climate change and building strong economies.
The roundtable brought together leaders from Canada’s financial and banking sector, Government of Canada institutions, and civil society, as well as othersustainable finance representatives. The event was moderated by Mark Carney, United Nations Special Envoy for Climate Action and Finance and the former Governor of the Bank of England and the Bank of Canada. Discussions identified concrete actions to engage the private sector to build a net-zero economy in Canada and internationally.
The first segment of the roundtable focused on mobilizing private sector capital towards Canada’s clean future. The discussion touched on Canada’s recently released 2030 Emissions Reduction Plan and the policy certainty needed to accelerate investment to achieve emissions objectives. Private sector participants discussed how they are aligning their investments and operations with the net-zero approach and exchanged views on barriers that are hindering further investment.
The second segment of the roundtable centred on how Canada can help mobilize capital to support the net-zero transition internationally. Canada and the Canadian financial sector can play a leadership role in working with developing countries to mobilize private investment to fight climate change, build resilient communities, and create long-term economic growth. With many important international summits on the horizon, including the G7 and the Commonwealth, the Prime Minister and The Prince of Wales acknowledged that it is increasingly important to recognize and emphasize the role that private sector actors must play alongside governments in the fight against the climate crisis.
The roundtable was a critical milestone as Canada continues to harness private sector finances into sustainable investment options, including setting an example globally. Coinciding with the roundtable, the Government of Canada has updated the terms of reference for the Sustainable Finance Action Council to include a focus on the implementation of climate-related financial disclosure and the development of net-zero capital allocation strategies.
The Council includes twenty-five of Canada’s leading financial institutions, insurance companies, and pension funds, which have more than $10 trillion in assets combined. The Government of Canada will continue to ensure sustainable financing accelerates progress on climate change. For example, the Government recently issued its inaugural green bonds. Environmentally and socially responsible investors set a Canadian dollar record by snapping up the $5-billion green bond offering with a final order book of over $11 billion.
Private sector capital and expertise are needed to meet our climate objectives and create a climate-resilient economy. Today’s action-oriented discussions will help move Canada towards meeting our emissions objectives while supporting our long-term economic strength.
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Prime Minister Justin Trudeau had a one-on-one meeting with Prince Charles on Wednesday.
Trudeau said: “I met the Prince of Wales for the first time when I was nine years old. In the years since, we’ve met many more times – and his commitment to Canada ad to bhilding a clearner future has never wavered. Your Royal Highness, welcome to Canada.