Prince Charles: rewire the global economy to stop climate change

Heir to the throne calls for end to 'business as usual' approach that does nothing to avert catastrophic global warming - and praises Guardian's climate campaign

Prince Charles has said that "profound changes" to the global economic system are needed in order to avert environmental catastrophe, in an uncompromising speech delivered in front of an audience of senior business leaders and politicians.

The heir to the throne - often criticised for his meddling in political affairs - argued that ending the taxpayer subsidies enjoyed by coal, oil and gas companies could reduce the carbon emissions driving climate change by an estimated 13%.

There seems to be a strategic chasm between where the world agrees it should be headed and the direction of the economy