Think Net Zero with Environment in Mind
Jonathan Lydiard-Wilson, the Chief Strategy Officer at Environment Bank, emphasises the critical importance of not neglecting biodiversity amidst the ongoing development of infrastructure and housing projects in the UK.
He highlights the significance of incorporating Biodiversity Net Gain (BNG) alongside net-zero commitments in upcoming planning and infrastructure bills. The rapid increase in housing stock must be accompanied by a strong dedication to ensuring any habitat loss is offset by a net gain.
Environment Bank plays a vital role in enabling developers, including major house builders and infrastructure projects, to purchase BNG units to compensate for the environmental impacts of their developments.
Lydiard-Wilson explains that they are establishing a national network of habitat banks to facilitate nature recovery and restoration at a rapid pace. These habitat banks generate BNG that developers must purchase to offset any damage caused to nature during construction. Currently, there are approximately 28 habitat banks covering about 600 hectares. Additionally, Environment Bank collaborates with large corporations to address the environmental impact of their operations.
The Chief Strategy Officer commends the government’s support for BNG but urges local planning authorities to provide clear guidelines to streamline the financial and legal frameworks necessary for successful implementation.
He acknowledges the government’s recent commitment to nature recovery, citing Foreign Secretary David Lammy’s statement about positioning the UK as a global leader in environmental issues. Despite past pledges, the UK lags behind other European countries in terms of biodiversity conservation. The Labour Government’s support for mandatory BNG legislation in February has instilled confidence in the market, but private investment must be incentivised to ensure ongoing success.
Lydiard-Wilson stresses the need for organisations like Gresham House, which invest in BNG projects, to receive support and encouragement. He emphasises that the UK must acknowledge the significant ground it needs to cover in biodiversity conservation efforts, avoiding any false sense of achievement in this critical area.
