Report finds regenerative approach could yield economic benefits while helping to meet environmental targets
Conversely, investing in nature can produce economic returns for companies in a range of sectors, from manufacturing and construction to food, according to a report from the Green Finance Institute (GFI) and WWF.
But many businesses are failing to reform or are unaware of the impact of their actions on nature and the climate. The WWF economist Vassilis Gkoumas said: “A real plan to save UK nature must bring the private sector with it. Many businesses want greater clarity around how they can contribute to the transition. Now we need more to come forward.”
One solution is for companies to develop so-called nature-positive transition pathways (NPPs) under which they agree to meet certain targets on environmental improvement, with government help. The report found that these could play a big role in helping the UK reach its net zero targets, and national targets on nature and the environment, such as halting the decline of species abundance by 2030.
Steve Reed, the environment secretary, said getting private sector companies to invest in improving nature was an essential part of the government’s programme for economic growth. He said a new national plan for nature and the environment, expected to be published this autumn, would set out how NPPs and other measures could achieve economic growth, as well as improving health and wellbeing.
