How the transfer of power will happen now that King Charles III has to stand down from his business interests in the Duchy of Cornwall empire is not yet clear.
But given the King’s longstanding interest in all things ecological, including climate change, wouldn’t it be ethically rewarding if he followed the lead of Yvon Chouinard, the founder of the Patagonia outdoor apparel company (Yvon Chouinard – the ‘existential dirtbag’ who founded and gifted Patagonia, 15 September)?
Chouinard has pledged to transfer ownership of the company, valued at around $3bn, to a tailored trust and non-profit organisation committed to ploughing all of its profits into combating climate change and protecting undeveloped land around the world. This kind of benevolent capitalism is surely a model for future corporations that at present largely benefit owners, CEOs and shareholders.
As we move to a renewables-based economy, our model of capitalism must surely follow. Will our King, with all his green credentials, agree with this more radical but inevitable shift in economic thinking to meet the demands of the environment and work for the planet’s profit?
Prof Alan Bleakley
Sennen, Cornwall
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