Select committee: Environmental Audit Committee
Conclusion 68
First Report - Biodiversity in the UK: bloom or bust?
Published 30 Jun 2021
Paragraph 328
Environmental Audit Committee Biodiversity and Ecosystems All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
Financial systems need to recognise the value of preserving biodiversity. The transformation the financial system has undergone to integrate climate-related financial risks should be used as a roadmap to do the same for biodiversity. The interconnected, complex, and non-linear nature of biodiversity risks makes it difficult to model. But the outsized and extreme financial impact of exceeding ecosystem tipping points, makes work to integrate nature risks all the more pressing. We welcome the Government championing the work of the taskforce on nature-related financial disclosures (TNFD). To accelerate this work, the Government needs to play its part in creating the narrative that robust and imminent policy responses to biodiversity are coming, this can help initiate the management of biodiversity risks within the finance sector.
From: Environmental Audit Committee, First Report - Biodiversity in the UK: bloom or bust? (HC 136), paragraph 328, 30 June 2021
Government response
The government responded to the whole report on 30 September 2021 (deadline 30 August 2021).