Natural Capital

Tuesday 11th March 2014 Written Statements

[The Secretary of State for Environment, Food and Rural Affairs (Mr Owen Paterson)]

The Natural Capital Committee has today published its second state of natural capital report. A copy will be placed in the Libraries of both Houses.

The committee was established in 2012 as an independent advisory body to Government. It formally reports to the Economic Affairs Committee and was one of the commitments in the Government’s 2011 natural environment White Paper (NEWP).

The role of the Natural Capital Committee is to:

provide advice on when, where and how natural assets are being used unsustainably;

advise the Government on how they should prioritise action to protect and improve natural capital, so that public and private activity is focused where it will have greatest impact on improving well-being in our society; and

advise the Government on research priorities to improve future advice and decisions on protecting and enhancing natural capital.

The three key messages made in the report are:

Some assets are currently not being used sustainably. The benefits we derive from them are at risk, which has significant economic implications;

There are substantial economic benefits to be gained from maintaining and improving natural assets. The benefits will be maximised if their full value is incorporated into decision-making; and

A long-term plan is necessary to maintain and improve natural capital, thereby delivering well being and economic growth.

The Government intend to provide a response to the committee’s report once they have considered its content fully.