Britain's Prince Charles of Wales said the problem of climate change simply cannot be solved without China, welcoming the launch of the Sustainable Markets Initiative (SMI) China Council, PA Media reported.

SMI was launched by Charles in 2020 and brings together international figures from the private, public and philanthropic sectors to find ways to rapidly decarbonize the global economy and transition to sustainable markets.

In a video message, the prince noted that the future of humanity depends on an "increasingly urgent solution."

"Climate change and biodiversity loss, as two of the world's most dire and pressing threats, simply cannot be solved without China," said the heir to the British throne. At the Cop26 conference in Glasgow and thanks to the Cop15 Chinese presidency, the world has made some progress toward a net zero, positive and sustainable biodiversity future. But governments cannot achieve these goals alone. Industry must play a central role in our efforts to accelerate the green transition. Mobilizing funding will be critical, he noted.

"China is home to the world's biggest banks and insurers. Chinese companies are also world leaders in green technologies from electric vehicles to renewable energy. So your collective action through the SMI China Council will play a vital role in the global transition to a greener economy," Prince Charles added.

Charles has had a difficult relationship with China's leadership in the past, but it seems to have become stronger under Chinese President Xi Jinping, whom he met during the Chinese leader's state visit to Britain in 2015.