The Green Finance Initiative (GFI) and World Wildlife Fund (WWF) have published a report calling on Government to support and participate in the co-development of nature-positive transition pathways (NPPs) with the private sector that incorporate nature and climate into economic and growth strategies.

This follows 28 businesses and organisations signing a statement supporting the development of NPPs in the UK.

The new report: Business Investment in Nature: Supporting UK Economic Resilience and Growth, demonstrates how a degraded natural environment is negatively impacting businesses across the UK, and therefore hindering economic growth.

At the same time, the report shows how swift and coordinated action can secure the UK’s future growth trajectory by building resilience, improving productivity, and leading in the technologies, materials and financial products that are needed to reduce business impacts on nature and support its restoration.

Should action not be taken, there could be significant ramifications for the UK economy that could lead to a 4.7 per cent reduction to UK GDP by 2030. Already nature-related risks, including water scarcity, pollution, flooding, soil degradation and resource scarcity, are already disrupting key sectors such as housing, energy, agriculture, manufacturing and tourism, driving up operational costs, threatening asset viability and undermining regional economic resilience. These will continue to get worse unless action is taken.

UK businesses are increasingly investing in nature-based solutions and innovations to reduce their impacts on nature, and the report cites over 40 examples illustrating how UK businesses and sectors are taking targeted action, such as regenerative agriculture, water efficiency and circular technologies, and are seeing financial returns and competitive advantage.

However, while individual businesses are starting to act, there is a call for more guidance and better coordinated action in order to create a level playing field across sectors. To unlock these opportunities and manage nature-related risks, the report advocates for the development of NPPs; national plans co-designed by government and the private sector that provide guidance on how different sectors are expected to align with, and deliver on, environmental targets.

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