Government needs to develop a framework for environmental standards and improve funding for key nature-related targets by tapping into the private sector markets, the CLA says in response to a new report by the Green Finance Institute.
The report - The Finance Gap for UK Nature - warns £97bn of additional investment is needed over the next decade to meet the UK’s nature-related targets over the next 10, 20 and 30 years.
Responding to the report, CLA President Mark Bridgeman said:
“This report highlights that current government and philanthropic investment falls far short of what is needed in the UK to meet key nature-related ambitions over the next 30-years.
“Of all the environmental outcomes, the biggest funding gaps are in sustainable soil management, woodland creation and management, access, and peatland restoration, alongside marine habitats and sustainable fish stocks.
“The CLA has been working with government on both the new payment for public good schemes and the development of private sector environmental markets for carbon, nature and water quality.
“Whilst the government has already committed some funding through existing programmes, such as the Countryside Stewardship and new Environmental Land Management Programmes for farmers and land managers, it must now act to unlock the private sector markets.”
The CLA believes the government should:
- Develop a framework for environmental standards that can be approved and registered;
- Demonstrate leadership to fast-track market governance rules including accreditation, oversight and enforcement;
- Support the fast-track development of new standards such as soil carbon, nutrient reduction and flood mitigation; and
- Ensure the market operates effectively using frameworks for local prioritisation, administration and leveraging public funding.