Natural Capital – Defra Responds
Natural Capital Coalition: ‘On 22 September, the Department for Environment, Food and Rural Affairs (DEFRA) for the UK released its official response to the Natural Capital Committee’s third State of Natural Capital Report. The Natural Capital Coalition was pleased to hear of their support for a 25 year plan and strategy, demonstrating their commitment to encouraging natural capital valuation and creating a “healthy natural economy”.
Based on the recommendations of the Committee, the Government hopes that the strategy will place the UK at the forefront of natural capital implementation, using the latest innovative tools and techniques, not just to monitor and map the country’s natural resources, but to truly understand their value. By doing this, they hope to create more informed policy and investment; to better appreciate the impacts we have on our surroundings and encourage more people to enjoy and interact with the natural environment in a sustainable way.
Overall, the outcome of the plan hopes to be a more focused and effective approach to environmental management, delivering multiple benefits to various stakeholders. Not only has the Government pledged to provide ongoing support to long-term research programmes related to natural capital, but they have also directly endorsed the adoption of natural capital accounting, encouraging businesses to better understand their impacts and dependencies on natural resources.
The Natural Capital Coalition’s work in developing the Natural Capital Protocol plans to complement and encourage this growing interest in natural capital accounting, as well as the work of similar organisations. The Government’s 25 year plan, along with the continuation of the Committee – at least until the end of the current Parliament – reinforces the importance of this dynamic and continually evolving field, which the Coalition is proud to contribute to.’
To read the full response from the Government, visit DEFRA’s website, here.
http://www.naturalcapitalcoalition.org/news/article/uk-governments-25-year-natural-capital-plan.html