The House of Commons Environmental Audit Committee will continue its inquiry on the role of natural capital in the green economy, with an evidence session exploring how data, standards and monitoring contribute to effective natural capital markets.
The MPs will hear evidence in person from investment organisations, academics, development banks and the British Standards Institute.
Throughout its inquiry, the Committee is examining how private investment, a key part of the Government’s current path to a net zero economy, can fund natural capital and contribute to the UK’s environmental goals.
In the first panel, MPs will ask witnesses about how attempts to measure, record and report the value of natural capital assets could be standardised across the sector. They may also ask how the UK could establish a baseline value for natural capital assets, against which environmental progress could be measured, and who should be responsible for it.
In the second panel MPs will ask about monitoring and evaluation of natural capital assets, including who this information should be reported to and what should happen if monitoring reveals that targets are not being met.
Witnesses may also be asked how to ensure that natural capital investment is not used simply to offset other emissions, and how investors can align their activity with nature restoration.
Witnesses appearing before the Committee today are as follows:
From 14.15:
- Susannah Stock, Banking Director responsible for Natural Capital, UK Infrastructure Bank
- Dr Scott Steedman CBE, Director-General, Standards, British Standards Institution
- Paul Scaping, Public Policy Specialist, The Investment Association
From 15.15:
- Dr Pernille Holtedahl, Research Fellow at Centre for Climate Finance and Investment, Imperial College Business School
- Professor David Hill CBE, Chairman, Environment Bank
- Peter Bachmann, Managing Director, Sustainable Infrastructure, Gresham House plc
- Professor Guy Standing, Professorial Research Association, SOAS
Click here to watch the evidence session live on Parliamentary TV
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