Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how he plans to integrate the findings of the Dasgupta Review on the Economics of Biodiversity into his plans for the COP26 on climate change relating to (a) the need for Governments to change their primary measures of economic success away from GDP and (b) other priority areas for action outlined in those findings.

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.