Charles calls on firms to develop resilient business models to succeed

The Prince of Wales has reiterated his call for companies to develop a resilient business model if they are to take advantage of the challenges of the modern world.

Charles's comments came in a conference speech to senior financial officers considering what innovations are needed in their industry to address global challenges such as climate change.

The event was staged at St James's Palace by the Prince's A4S organisation, which gathers leaders from across the finance world - business, capital markets, governments, regulators and education - and attempts to inspire them to adopt more sustainable ways of working.

Charles told the delegates about the challenges facing the world: "We live in an age of unprecedented change - the so-called 'Great Acceleration' - which is showing no signs of abating.

"Indeed, we are currently running headlong into the abyss. Greenhouse gases are continuing to build in the atmosphere at a truly frightening rate.

"Last year we broke the dangerous barrier of 400 parts per million of CO2, with the warmest temperatures on record, and species are becoming extinct at a disturbing rate.

"Is this what we really want?"

More than 200 global chief financial officers, investors and other leaders attended the summit, which had the theme - 'risk, opportunity and innovation'.

Charles went on to say: "Ladies and gentlemen, the world is changing and, if you don't analyse and respond to these opportunities and risks, you will be stuck with out-dated and unsustainable business models.

"I have said in the past that it is not necessarily a choice between making money on the one hand and 'doing the right thing' on the other.

"On the contrary, once it is recognised that 'business as usual' is unsustainable, it follows naturally that those organisations which start to develop resilient business models will be the ones that succeed."