Biodiversity Emergency

Lord Sikka Excerpts

Thursday 22nd April 2021 Grand Committee

[Lord Sikka (Lab) [V]]

My Lords, the Climate and Ecological Emergency Bill annual risk report for 2020 ranks biodiversity loss as the third most impactful risk facing the global economy and the fourth most likely to actually occur. The Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services estimates that between $235 billion and $577 billion in annual global crop output is at risk as a result of pollinator loss. Bee populations are declining because of pesticide use, habitat degradation and reduction, global warming, agricultural practices and a lack of floral diversity. A recent red list showed that out of a total of 1,101 species of bee in the EU, about 15% are threatened with extinction or near-extinction.

The Government need a joined-up approach to dealing with the impact of biodiversity loss. Section 172 of the Companies Act 2006 requires directors to promote biodiversity. Business performance measurement models are distorted by a focus on shareholder wealth maximisation and environmental degradation and neglect of biodiversity by companies. This neglect is further perpetuated by the Government’s current consultation paper on corporate governance reforms, which clings to a shareholder-centric model of corporate governance.

A first step for dealing with the challenges is for the Government to promote a stakeholder model of corporate governance so that diverse voices are empowered. Hopefully, the Minister will give us that commitment in his response.

Official Development Assistance

Lord Sikka Excerpts

Wednesday 2nd December 2020 Lords Chamber

[Lord Ahmad of Wimbledon (Con)]

My Lords, I agree with the noble Lord on his final point. The reduction in GNI has meant a circa £2.9 billion reduction in the current aid spend, but we will fulfil our commitment to the GNI for this year. I also accept the principle that the proposal of 0.7% going down to 0.5% for 2021 presents an additional reduction. I know that the letter from my noble friend Lady Anelay to the Foreign Secretary is in the course of being responded to.

[Lord Sikka (Lab) [V]]

My Lords, I draw attention to my entry in the register of interests. There is another aspect of the ODA which the Government continue to neglect: the amount of taxes which are avoided in emerging economies and low-income countries. Last year, they lost $144 billion due to tax avoidance by corporations and the rich. The tax avoidance industries in the UK and the Crown dependencies and overseas territories are particularly responsible for that. What steps will the Minister take to ensure that the emerging economies get the taxes which are due to them? That would give them plenty of resources for development.

[Lord Ahmad of Wimbledon (Con)]

My Lords, it needs political leadership within country, but we should be lending technical support to ensure that a greater level of tax is collected within developing parts of the world. I note what the noble Lord has said.