Biodiversity

Debate between Lord Gadhia and Lord Faulkner of Worcester

Wednesday 28th April 2021 Grand Committee

[Lord Gadhia (Non-Afl) [V]]

My Lords, as well as being one of my favourite lecturers at university, Professor Sir Partha Dasgupta has done all of us a great service through his seminal report. By framing the economics of biodiversity around nature as an essential asset, he triggers a whole series of logical follow-on questions. How do we properly account for the depletion of this asset? How do we manage it and replenish it? What is the portfolio effect from diversification? As a finance geek, I find these analogies both comforting in their conceptual familiarity but also perceptive in identifying the consequences of our actions.

However, my interest in nature extends well beyond economics and finance to the world of philanthropic impact. As noted in my register of interests, I have the honour of serving on the board of the British Asian Trust, a charitable foundation established by His Royal Highness the Prince of Wales. We recently merged with Elephant Family, a respected conservation charity providing a wider canvas across south Asia. This megadiverse region has revived several important species from the brink of extinction.

I am therefore pleased to inform your Lordships that, in just under three weeks’ time, we will bring alive India’s rich biodiversity through a high-profile campaign called CoExistence. More than 100 life-sized elephants will transform the Royal Parks and other locations across London. These elephants are handmade from lantana camara, an invasive weed whose removal from protected areas benefits wildlife by leaving more space to roam. Each work of art is a sight to behold.

The aim of this campaign is to highlight how India’s indigenous communities live alongside wild elephants in denser populations than anywhere else in the world, competing for food and space. Our objective is to build a network of corridors supporting human-wildlife coexistence. This campaign provides a small but practical way in which the theoretical underpinnings of Professor Dasgupta’s report can be brought to life.

[The Deputy Chairman of Committees (Lord Faulkner of Worcester) (Lab)]

The noble Lord, Lord Bradshaw, is not on the call so I call the noble Baroness, Lady McIntosh of Pickering.