Prince Charlesand his sonPrince Williamboth have the environment in their sights this year.

Charles has just joined William in announcing a new initiative to help bring forward fresh ideas to tackle the world’s environmental issues.

Seeing 2020 as a “year of action,” as one palace aide calls it, Charles is launching his new Sustainable Markets Council at the World Economic Forum’s meeting at Davos in the Swiss Alps later this month.

James Veysey/Shutterstock

Prince Charles and Prince William Royal Ascot

The council hopes to build an international coalition that can have “significant impact” and identify solutions to de-carbonizing the world and help the move towards a more “sustainable footing.”

“There is now agreement on the problem, and the prince is really focused on solutions,” deputy private secretary Scott Furssedonn-Wood said at a briefing at the prince’s London home, Clarence House.

The announcement comes a week afterPrince William, 37,kicked off his search for leading innovatorsand reward new ideas via his Earthshot prize.

Both have the same aims – of “finding solutions,” so they don’t clash, Furssedonn-Wood insisted.

Can’t get enough ofPEOPLE‘s Royals coverage?Sign up for our free Royals newsletterto get the latest updates onKate Middleton,Meghan Markleand more!

“There is no monopoly on action. As long as everyone is pointing in the right direction on this,” he said. “The prince and [William] are delighted that they have parallel opportunities to pursue the same objectives.”

Charles will attend Davos en route to Israel, to which he is traveling in a private chartered aircraft mainly for security reasons. The royal is determined not to add unnecessarily to any carbon footprint, so the prince is only doing so because he is able to stop off during his journey to Israel, palace sources said. They point out that he is planning on taking the drive from the airport to Davos in an electric car.

source: people.com