Government must do more to realise growth opportunities of natural capital

5th September 2013

The Aldersgate Group welcomes the wide acceptance of the work of the business-led Ecosystems Markets Task Force (EMTF) set out in the Government’s response published on 5th September. But while the Government has favoured the vast majority of the recommendations, the actions described could fall well short of delivering the contribution to growth and business opportunity that ambitious implementation of the EMTF's carefully crafted suggestions would make.

Peter Young, Chairman of the Aldersgate Group and a member of the EMTF said: “The business opportunities highlighted by the EMTF will not be realised if Government is not prepared to make them tangible and secure for investment in new nature based markets. For example, it is vital that the current consultation on biodiversity offsetting does not result in a voluntary scheme which, the published Impact Assessment shows, will deliver absolutely nothing for growth. It would be a massive missed opportunity which has been estimated to be worth £450 million over the next decade. I am pleased that there will be the opportunity to scrutinise progress on all 22 recommendations next spring.”