Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the recommendations set out in the report The nature of our economy: Implementing the Dasgupta Review, published by the Green Alliance on 18 March.

The Government agrees with the central conclusion of the Dasgupta Review that nature, and the biodiversity that underpins it, sustains our economies, livelihoods and wellbeing. It is therefore committed to integrating nature into economic and financial decision-making, and the institutions and systems that underpin it.

The Treasury continues to make progress and explore ways to strengthen processes for assessing the climate and environmental impacts of fiscal decisions and improve the Green Book in line with emerging evidence and best practice. For example, building on the extensive guidance already provided for evaluating and monetising natural capital impacts, the Government has published updated supplementary guidance to the Green Book on Enabling a Natural Capital Approach, including additional guidance on valuing biodiversity.

The UK was one of the first countries to publish natural capital accounts as part of its National Accounts, and the Office for National Statistics will continue to implement its roadmap to ensure the further development of the natural capital accounts through to 2026.

As set out in the Budget last October, the Government is continuing to invest in the natural environment, confirming £5 billion over two years to support the transition to a more productive and environmentally sustainable agricultural sector in England, and at least £400 million for tree planting and peatland restoration to protect soils, rivers and biodiversity. To help deliver its environmental ambitions, the Government is also seeking to create the conditions to mobilise additional private finance into nature, including by driving the development of high-integrity nature markets for the UK.