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In 2007, following the completion of an environmental review of the Household's activities by Forum for the Future, a target was set to cut total carbon dioxide equivalent (CO2e) emissions by 12.5 percent by 2012. This target has been exceeded in the first year. In 2007-08, carbon emissions fell by 18 percent from 3,425 tonnes to 2,795 tonnes CO2e. This has been achieved primarily through changes in travel and a switch to green electricity supplies.

The report says that some of the reductions last year were due to one-off savings, so similar reductions are not be expected in future.  Indeed "there may be some years when overall emissions increase, most probably due to official overseas travel requirements."  Since the Household has already achieved its 2012 target, it has changed the target for 2012 to 25 percent of the 2007 levels.

Green Homes
Both Birkhall (the Prince's private residence in Scotland) and Highgrove now gets its electricity from sustainable sources, as well as the installation of woodchip boilers at both residences, and the installation of more efficient boilers at Clarence House.

Travel
Travel emissions make up a large part of the Household's carbon footprint.  In order to reduce net emissions from car travel, the Prince's Jaguars, Audi and Range Rover have been converted to run on 100 percent biodiesel made from used cooking oil, and his 38-year-old Aston Martin, which was a gift from the Queen for his 21st birthday, to run on 100 percent bioethanol made from surplus wine.

The Prince's chief aide Sir Michael Peat said:
"Charles only travelled two or three hundred miles a year in the Aston but he wanted it to be environmentally friendly. It just happened that our bioethanol supplier makes the fuel from surplus English wine."

Surplus English wine?  Is it really that bad that it can't be drunk?

The report adds that overseas tours are determined by the Foreign and Commonwealth Office rather than the Household, meaning that in some years emissions may rise, rather than fall, because of the greater distances required to be travelled.

Climate Change Projects
As well as doing what he can to reduce his own carbon footprint, The Prince of Wales also oversees a number of projects aimed at achieving a broader impact on climate change. In September 2007, he launched the "ClimateWise Principles" with the country's insurance sector. The six principles, which include commitments to support awareness among customers and to take account of climate change in investment strategies, have already been adopted by 38 leading insurance companies, including the top 10 UK firms.

Recognizing that the pension industry also has a role to play, His Royal Highness convened at St James's Palace in November 2007 a meeting of the world's eight largest public pension funds to discuss investment strategies to address climate change with the objective of a set of principles by which they might operate.

The Prince continues to encourage the business community as a whole to adopt more environmentally friendly practices. On 1st May 2007, he participated in his first May Day Business Summit, which aimed to encourage and persuade the business sector to work together to tackle climate change. The event brought together over 1,000 business leaders from large, medium and small companies in 10 simultaneous events across the country, led by a summit at St James's Palace attended by His Royal Highness.

In the year since the May Day Summit, a total of 831 companies have joined the "May Day Network" – making it the UK's largest group of companies working together to tackle climate change. Network members share examples of best practice, such as new technologies and environmental initiatives, while mobilising their employees, suppliers and customers to follow suit. So far, more than 5,000 pledges have been made and 92 percent of participants have pledged to measure their carbon footprints. Also, a number of companies have formed alliances within their own industries in order to take a sector-based approach to combatting climate change. A second May Day Summit was held in May 2008.

The past year also saw the completion of The Prince's Accounting for Sustainability Project, which His Royal Highness set up in 2006 to help companies and public sector organisations embed sustainable practices in their decision-making, day-to-day operations and accounting procedures, and to report sustainability performance in a simple and consistent format. The Project developed an Accounting for Sustainability Connected Reporting Framework, and set up a website (www.sustainabilityatwork.org.uk) to offer guidance and advice. The Household has adopted the Accounting for Sustainability Connected Reporting Framework this year, and sustainability performance is reported towards the end of this Review alongside the related financial information.

Last year also saw the launch of The Prince's Rainforests Project, which seeks to find solutions to the deforestation of the world's tropical rainforests.