Nigel Farage and Bob Ward clash on climate change on GB News
We use your sign-up to provide content in ways you’ve consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info
Biodiversity investors Treeconomy says there is a huge opportunity to create “a lot of jobs” and a net zero economy following a stark report by nature capital firm Cultivo. Harry Grocott, co-founder of Treeconomy, exclusively told Express.co.uk how private investment from the bottom up can fight against these challenges. The report warns the global surface temperature is 1.09C higher in the decade between 2011-2020 than between 1850-1900.
But the past five years have been the hottest on record since 1850.
And the recent rate of sea level rise has nearly tripled, compared with 1901-1971.
At the same time, wildlife populations have, on average, declined by 60 percent since 1970, There is the potential for human action to cause the loss of one million species.
While 2.3 billion people live in water-stressed countries, of which 733 million live in high and critically water-stressed countries.
Treeconomy focuses on turning land use from a carbon source to a carbon sink.
The investors in biodiversity and tree-planting in the UK have handed the Prime Minister a plan to fight back against the crisis.
Mr Grocott believes in the need for incentives like grants to encourage investors into boosting a net zero economy.
He said: “Stimulating a market like this quickly needs a systemic shot in the arm, so it seems unlikely that a single action would be enough. However, the UK does actually have a good precedent for this with the offshore wind business
“The UK supported off-shore wind development by providing first-loss capital or grants for blended finance, which basically made these investments less risky for private investors and allowed the market to take in money while it was still forming.
“The recent England Woodland Creation Offer (EWCO) is similar and provides grants to support with the initial creation of woodland. So that’s a good start.”
EWCO lets landowners, land managers and public bodies can apply for funding to create new woodland.
But he said the UK needs think of new ways to encourage investment too.
He said: “The UK now has its own domestic emissions trading scheme (ETS) having left the EU ETS, but the UK ETS doesn’t accept carbon offsets from woodland into the scheme.
“Moving to a smart, hybrid ETS that accepts high quality offsets from woodland projects would allow a clear price signal for investors.
“It’s also very important to ensure that there are incentive payment for more than just carbon, otherwise we end up sacrificing important biodiverse habitats.
DON’T MISS
Covid breakthrough: New Oxford vaccine tipped to end Delta variant[REPORT]
Covid breakthrough as Bill Gates commits £90m to vaccine-alternative [REVEAL]
Scientists in China stunned after finding ‘bizarre’ dog-sized scorpion [INSIGHT]
“Thinking through the supply chain we need; more tree nurseries, more tree planters, more project managers, more project auditors, more ecologists, more carbon traders, more carbon accountancy firms, and more tech companies like ours to make sure we can scale! That’s a lot of jobs, and importantly a lot of jobs of varying skill so it really can act as a broad economic stimulus.”
Scientists have already warned that ignoring the climate crisis will yield “untold suffering” for humanity and even bring about the end of the world as we know it.
They say that although climate change will not directly cause an extinction event, that it could play a huge role, such as by leading to food and water scarcity, which has the potential to trigger a societal collapse and set the stage for global conflict.
Mr Grocott also said the UK can benefit from the upcoming COP26 climate summit in Glasgow in less than two weeks time, and other climate events, to make sure it is on the right path to tackle these challenges.
But he also said the UK must be more proactive at more global events similar to COP26.
“Thinking through the supply chain we need; more tree nurseries, more tree planters, more project managers, more project auditors, more ecologists, more carbon traders, more carbon accountancy firms, and more tech companies like ours to make sure we can scale! That’s a lot of jobs, and importantly a lot of jobs of varying skill so it really can act as a broad economic stimulus.”
Mr Grocott also said the UK can benefit from the upcoming COP26 climate summit in Glasgow in less than two weeks time, and other climate events, to make sure it is on the right path to tackle these challenges.
But he also said the UK must be more proactive at more global events similar to COP26.
He told Express.co.uk: “The UK simply has to be active on the world stage at these events, and can have a real impact by moving first and maintaining our position in the world as a climate leader in regulation, as we have with our legally binding Net Zero target.”
The UK has set a target of reaching net zero carbon emissions by 2050.
But Mr Grocott warned that we will only reach that target with the right policies and investments.
He said: “It’s the implementation of these policies that will make the difference.”
For instance, he called on the Government to incentivise regenerative farming and change the current subsidy regime.
He added: ”We need nature to be on outside in this not against us and it is one of the most cost effective measures we can take.”
Source: Read Full Article
