FORWARD LOOK
Maximising natural assets
A
s climate change and the environment continue to climb the political agenda, now is the time for landowners to start considering how they maximise their natural assets. Natural capital applies economic thinking to use of natural resources and environment. It is about measuring a business’s impact on the environment, and the benefits the environment provides to society and the economy. With this knowledge, land managers can be rewarded financially for the stewardship or improvement of their stock of natural capital. To help members gain a better grasp of how natural capital is relevant to them, the CLA has compiled resources to shed light on the topic, including webinars discussing the development of environmental markets and their potential for members, a guide – An Introduction to Natural Capital – and a series of guidance notes. Harry believes that natural capital will be at the forefront of government thinking in 2022. “We know that the future Environmental Land Management (ELM) schemes will definitely be infl uenced by natural capital thinking,” he says. “The basic premise of ELM schemes is that farmers
26
CLA ANNUAL 2022
26 FL-NaturalCapital-CLA Annual Review 2022_Land & Business.indd 26
“It’s important for these businesses to look at the way our members manage their land, and how this work could support their own environmental ambitions. “That is why the CLA is involved in work by the City of London and others to put together a framework – standards, broker accreditation, registries and so on – that will enable new markets for and landowners who manage their land carbon, biodiversity and other aspects of to deliver for climate change, water the environment to develop. This work is improvements and nature, for example, finding ways to channel green investment will get paid for doing that.” into the rural economy and ensuring it’s There are clear, and increasingly right for farmers and land managers.” measurable, benefits to well-managed Although much of the detail of the natural capital, such as clean air, higher new government schemes is still to be water quality and climate change announced, Harry believes CLA members mitigation. This has generated interest should be planning for the future. from the private sector, with businesses “We know that the Basic Payment starting to invest in these outcomes. Scheme (BPS) is going, so our members “We know that many businesses are should be thinking about the profitability interested in green issues and are making of their business without BPS. Considering pledges to get to net zero,” Harry says. the opportunities from new environmental schemes and markets – whether The CLA is creating carbon, biodiversity net the UK’s first gain or ELM schemes – natural capital is one way forward. directory to help “It’s important for our members navigate members to be thinking this new and about their businesses from important world. It an environmental perspective will be published on – considering what they are our website and will already doing that delivers allow companies to for the green agenda, and promote their brand then looking at how they and the natural could enhance their work capital-related in this area going forward,” services they can Harry concludes. provide to members.
IMAGE: ISTOCK
Well-managed natural capital has the potential to deliver numerous environmental benefits in a profitable way for members, Harry Greenfield advises, and this is increasingly important in 2022
cla.org.uk
09/11/2021 10:03
