Prince Charles warns economic system has 'enormous shortcomings' on final day of US tour

Future King was speaking in Louisville, Kentucky as part of a four day tour of America

Prince Charles delivers his speech at Cathedral of the Assumption in Louisville, Kentucky (AP)

Prince Charles spoke of an “economic system that seems to have enormous shortcomings” at one of the final events of his four day royal tour of the United States.

The future King gave a speech yesterday tackling the environmental and economic issues faces the world at the Cathedral of the Assumption in Louisville, Kentucky.

Earlier that day he was praised as “the greatest” in a letter from the Bluegrass state’s most famous resident, boxer Muhammad Ali, read by Louisville’s Mayor Greg Fischer as Mr Ali was too ill to attend.

The Prince of Wales told the invited audience: "We are standing at a moment of substantial transition where we face the dual challenges of a world view and an economic system that seem to have enormous shortcomings, together with an environmental crisis - including that of climate change - which threatens to engulf us all."

The Prince, who earlier in his tour visited Washington with his wife the Duchess of Cornwall Camilla, spoke to the assembled crowd about the need to “adapt to the effects of climate change,” stressing that sustainable economic growth should not be sacrificed for “‘unlimited’ economic growth”.

"And that depends upon basing our approach on the fundamental resilience of our ecosystems. Ecosystem resilience leads to economic resilience,” he continued.

"If we carry on destroying our marine and forest ecosystems as we are doing, then we will rob them of their natural resilience and so end up destroying our own."

Prince Charles, who is known for his outspoken views on environmental issues, was presented with an exceptional leadership in conservation honour from the International Conservation Caucus Foundation on Thursday.

The royal tour comes amid news that Britain’s Supreme Court will rule next week on whether a number of the Prince’s letters to several governmental department officials should be made public.

There has been a long-running legal dispute over the publication of the “black spider memos,” taking their name from the Prince’s distinctive handwriting, following a number of Freedom of Information Requests to view the correspondence.

Additional reporting by Press Association