Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to his response to the publication of the Independent Review on the Economics of Biodiversity led by Professor Sir Partha Dasgupta, published on 2 February 2021, what plans he has to use the UK’s (a) co-presidency of COP26 on climate change action and (b) presidency of the G7 to help ensure that the natural world is prioritised in the global agenda.

The Government welcomes the recent publication of the Dasgupta Review as a strong example of UK thought leadership on an important environmental issue with clear – but often overlooked – economic consequences. The Government will closely examine the Review’s findings - including those concerning measures of economic success. It will call on international partners, including through the UK’s Presidencies of the G7 and COP26, to do the same and will respond formally to the Review in due course.

On 12 February, the Chancellor co-hosted the first G7 meeting with the Governor of the Bank of England and called on the G7 to take the lead in shaping support for vulnerable countries in 2021. He stated that climate and nature considerations will be a central priority for this year’s Finance Agenda, paving the way to a truly green global economic recovery. The Chancellor urged his counterparts to match the UK’s ambitions ahead of COP26 and stressed the importance of working together to support a smooth and effective transition of our economies to net zero.