WOBO recognises the need to maximise the benefits available through the natural systems that exist.
Natural capital: UK’s ecosystems valued at £1.5trn
The total asset value of ecosystem services in the UK stands at £1.5trn, with nature contributing more than £45bn to the economy each year, the Office for National Statistics (ONS) has revealed.
Published earlier this week, the ONS’s latest annual natural capital accounts are based on data from 2021 – the latest full calendar year for which data is available.
The body has calculated the value of ecosystems and their contribution to the economy in terms of factors including public health benefits, food and water production and pollution removal.
Calculations also include the benefits of nature to culture and recreation, which accounts for the majority (£0.9trn) of the total asset value.
Indeed, the ONS estimates that nature made a £445bn contribution to the UK economy in 2021 purely in terms of the benefits of recreational time outdoors, including public health benefits and tourism.
Defra unveils bumper nature package including new National Park
The UK Government has introduced an extensive nature package comprising various measures that seek to link individuals with the environment, enhance accessibility to natural areas, and advance the country’s objectives regarding climate and biodiversity.
The Department for Food, the Environment and Rural Affairs (Defra) has today (29 November) confirmed that it is set to launch a quest for a new National Park in England, inspired by the success of the existing National Forest in the Midlands.
This search, scheduled to commence early next year, will focus on identifying the most picturesque and ecologically valuable areas.
Moreover, the Government is introducing 34 new projects across England, covering over 200,000 hectares of land, as a follow-up to its previously announced Landscape Recovery scheme.
These projects will encompass woodlands, rainforests and sustainable food production, aligning with the Government’s farming schemes and aiming to maximise economic benefits while serving on the nation’s nature-related commitments.
Register now for our post-COP28 debrief webinar
The webinar will take place from 11am – 12pm GMT on 13 December and will deliver a thought-provoking panel discussion featuring a variety of corporate climate leaders and NGOs, to summarise what happened at COP and what it means moving forward.
COP28 is taking place in Dubai from 30 November and is scheduled to conclude on 12 December.
The summit is expected to attract more than 60,000 people and is a potential tipping point for climate action. Further commitments and pledges at the conference could energise sluggish progress towards meeting the aims of the Paris Agreement, but with the likes of the UK failing to draw up policies aligned to a net-zero future, weakened action and renegading nations could put global climate efforts at risk.
COP28 is focused on transition from ambition to action, with a dedicated Action Agenda set up to act as a framework for global negotiations for politicians and world leaders. That’s not to say that COP28 won’t have implications for businesses – quite the opposite in fact.
With the dust still settling on discussions in the UAE, this webinar will bring together sustainability leaders and climate experts to share their thoughts on whether COP28 was a success and what, if anything, has change for corporate climate action.
CLICK HERE TO REGISTER FOR THIS WEBINAR