A new report exploring the governance of natural capital makes a compelling case to harness the potential of nature-based solutions, says the Country Land and Business Association (CLA).
Natural Capital: the battle for control, published by the Green Alliance, explores four scenarios around the governance of natural capital, with a focus on private payments. The report recommends that new governance is needed to steer natural capital markets “in a direction that is good for both people and planet”, including a new Office for Carbon Removal.
It also suggests a new rural land use framework to provide the spatially explicit natural capital data for new markets and the government to target efforts in the right place.
Mark Tufnell, President of the CLA, says:
“As custodians of the Great British countryside, CLA members understand the leading part they need to play if we are to meet our Government’s net zero targets and enhance biodiversity. Nature-based solutions that build natural capital can play an important role in this mission, and the report makes a compelling case to harness their untapped potential.
“We support market governance in the shape of an office of carbon markets to provide guardianship of credibility in the market. Landowners are keen to engage in the emerging market but realise that this will need collaborative working between land managers and with advice from environmental advisers.
“In addition, for natural capital markets to work for landowners, they need three things: reliable baseline data and spatial information, a supportive tax system and access to specialist advice and training. This will help create the conditions for a private sector market to work alongside landowners in delivering public goods.”