Climate Change: Biodiversity
The question
To ask the Secretary of State for Environment, Food and Rural Affairs, whether her Department has made an estimate of the potential impact to GDP in the UK from nature and biodiversity loss due to climate change.
Answered by Mary Creagh
Defra co-funded a 2024 report on Assessing the Materiality of Nature-Related Financial Risks for the UK, led by the Green Finance Institute working with academic partners. The report found that environmental degradation could lead to a potential reduction in GDP of around 3% and, in certain scenarios, nature-related risks including water shortages and soil reduction could lead to up to a 6% reduction in GDP in the years ahead. In addition, this Government’s recent National security assessment on global ecosystems highlights how global ecosystem degradation and collapse threaten UK national security and prosperity. Nature’s recovery is fundamental to the Government’s approach to economic growth, as set out in our Environmental Improvement Plan.
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