A U.K.-based sustainability initiative is drawing U.S. CEOs like BoA’s Brian Moynihan: ‘We’ve got to make this happen the right way’

In today’s CEO Daily: Fortune‘s executive editorial director for Europe Kamal Ahmed reports on why U.S. CEOs are backing King Charles III’s Sustainable Markets Initiative.

The big leadership story: BlackRock pours $100 million into solving the tradespeople shortage.

The markets: In the red globally as oil prices jump again

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Good morning. Earlier this week, I journeyed to the 16th century Great Hall of Henry VIII’s home—Hampton Court Palace near London. But the talk filling these halls wasn’t of the past, it was about the future. Brian Moynihan, the chief executive of Bank of America, Ron O’Hanley, the chief executive of State Street, and Janet Truncale, the chief executive of EY, were here to promote private sector efforts to drive the energy transition and climate sustainability. Donald Trump might want to look away. 

Moynihan, O’Hanley and Truncale came together following an initiative by King Charles III when he was still the Prince of Wales. He set up the Sustainable Markets Initiative to explore how businesses and investors could accelerate the energy transition, away from a reliance on fossil fuels and towards renewables and nuclear. 

“His majesty set this up in 2020 with a goal of driving the private sector to do more, faster for sustainability, a future that’s sustainable for all,” Moynihan said. “We’re a CEO-led organization, a volunteer army coalition of willing people who believe that we’ve got to make this happen the right way in the current context and in the future context.” 

The U.S. president has changed the political weather on the energy transition, pulling America out of the Paris climate agreement and calling much of the sustainability agenda a “green scam.” He directly accused Bank of America of “de-banking” U.S.........

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