We cannot neglect the loss of biodiversity as we continue to build infrastructure and housing, Jonathan Lydiard-Wilson, Chief Strategy Officer at Environment Bank.
He said: ‘Alongside net zero commitments, it’s important that the environment isn’t neglected in the upcoming planning and infrastructure bill, which is about building more houses in the UK.
‘We absolutely need more housing but it is vital that the rapid increase in our housing stock is supported by the strong commitment to Biodiversity Net Gain (BNG) and making sure that any habitat loss is replaced with a net gain.’
Environment Bank enables developers, including large house builders and infrastructure projects to purchase BNG units to offset the environmental impacts of their developments.
He said: ‘We’re building a national network of habitat banks that is going to deliver on nature recovery and nature restoration at pace.
‘And what these habitat banks do is they create BNG that are bought by developers. So when you build something and you create damage to the nature, you need to then replace that on a one for one basis. Currently we have about 28 habitat banks, about 600 hectares.
‘We’re also working with a number of large corporates who are looking at the damage that they’re doing to nature.’
Labour commitments to BNG
Jonathan praised the government’s support for BNG but called for clarity from local planning authorities to streamline financial and legal frameworks.
He said: ‘The new government has been very bold and outspoken about nature recovery. Last month, David Lammy, Foreign Secretary, said that they want to put UK back on the table as global leaders for us to retake the mantle when it comes to environmental issues.
‘In the past the UK has made many commitments and pledges and we haven’t really taken the action that needs to be taken. And we are essentially at the bottom compared to other countries in Europe when it comes to biodiversity.
‘But the Labour Government so far is saying that they’re going to do it, they’re going to take action. They have been supportive of the BNG legislation that became mandatory in February.
‘Their support has given confidence to the market. But they do need to encourage and incentivise private investment for BNG to continue to perform. There needs to be support for organisations like Gresham House that invest in BNG projects.
‘And we have a lot of catching up to do and we mustn’t fool ourselves about where we are with biodiversity.’
Copyright © 2024 Energy Live News LtdELN