Source · Select Committees · Environmental Audit Committee
Recommendation 26
26
Acknowledged
Baseline data for natural capital improvement lacks sufficient granularity at farm level.
Conclusion
It is vital to develop a substantial baseline to measure natural capital improvement metrics against. This is already taking place in some respects (e.g. Natural Capital Ecosystem Assessment (NCEA) data for woodlands) but the current programmes arguably do not provide sufficient granularity to support decisions at farm level. The British Standards Institute’s nature investment standards principles, both published and in development, should provide the baseline requirements that all natural capital markets should meet to ensure genuine net gains for nature in regard to additionality and other standards. (Conclusion, Paragraph 139)
Government Response Summary
The government acknowledges the need for a robust baseline assessment methodology and states it is continuing to sponsor the British Standards Institution’s Nature Investment Standards Programme, which is producing a suite of standards, including the recently published Overarching Principles Standard and future market-specific standards. They confirm they are exploring options for baseline assessment through these standards.
Government Response
Acknowledged
HM Government
Acknowledged
We are continuing to sponsor the British Standards Institution’s Nature Investment Standards Programme, which involves a large number of public and private sector organisations. The programme will produce a suite of Nature Investment Standards. The first of these standards for market adoption – the Overarching Principles Standard – was published in March. This standard is designed to apply across all UK nature markets and will be supplemented by further market-specific standards for biodiversity, nature-based carbon and nutrients. We recognise the need for a clear and robust baseline assessment methodology and are exploring options for this, one of which is through the market-specific standards that supplement the Overarching Principles Standard. In June, the British Standards Institution launched a consultation on the proposed standard for nature-based nutrient removal and reduction projects. This will provide greater assurance to those buying, selling, and investing in nutrient credits that they are participating in a high-integrity market which supports better water quality outcomes for nature and people. The International Sustainability Standards Board (ISSB) is setting a global baseline for corporate sustainability reporting, but will not set a baseline assessment methodology for nature-based projects.