Prince Charles is launching the Sustainable Markets Council later this month to help tackle the world's environmental issues.
The 71-year-old royal has long been a champion for environmentalism, and later this month, he will launch his new initiative, the Sustainable Markets Council, at the World Economic Forum's meeting at Davos in the Swiss Alps.
The council was founded by Charles along with the WEF to bring together leading "international figures from the private, public and philanthropic sectors," according to a statement from Charles' office on Monday.
Charles' office also stated the council hopes to build an international coalition that can have "significant impact" and identify solutions to decarbonising the world and help the move towards a more "sustainable footing."
Deputy private secretary Scott Furssedonn-Wood said at a briefing at the prince's London home, Clarence House: "There is now agreement on the problem, and the prince is really focused on solutions."
Prince Charles' announcement comes just one week after his eldest son Prince William, 37, also launched his own climate change initiative.
William's Earthshot prize is aimed at rewarding new ideas and searching for leading innovators, and Furssedonn-Wood has insisted the two royal organisations don't clash, as they are both aiming to "find solutions".
He said: "There is no monopoly on action. As long as everyone is pointing in the right direction on this. The prince and [William] are delighted that they have parallel opportunities to pursue the same objectives."
Prince Charles will attend Davos en route to Israel, and although he will be travelling by private aircraft for security reasons, palace sources have insisted he is determined not to add unnecessarily to any carbon footprint.
The palace also claims he is planning on taking the drive from the airport to Davos in an electric car.