The UK’s natural capital has intrinsic value but also provides critical services for our economy, health and wellbeing. However, the state of many ecosystems is in serious decline, which puts the future availability of the benefits we derive at risk.
To reverse this, we must protect and restore nature and “price the priceless”, which means better incorporation of the instrumental value of nature into our economic decision making.
Embedding nature within the mainstream economy can be achieved through presentation of a natural capital budget alongside the annual fiscal budget, delivered by the Chancellor and developing new markets for ecosystem services and biodiversity. The Aldersgate Group will be setting out its latest proposals to UK policy makers in an upcoming report in Autumn 2015.