The next few years are crucial to achieve the UK Government’s broader vision to support an economic transition to one that values and invests in nature, in line with the findings of the Dasgupta Review; as well as the ambition to mobilise private sector investment into nature restoration and nature-based solutions for climate mitigation and adaptation as laid out in the 2023 Green Finance Strategy.
The outcomes-focused Group – which is open to any financial institution engaged in UK nature finance – is working to identify barriers to UK Government ambitions on increasing private sector finance and also provide feedback and input where relevant on key government initiatives including:
- the development of a national database to track progress towards HMT’s target of £1 billion p.a. of private sector nature investment by 2030;
- the development of high-integrity domestic nature markets;
- the Land, Nature, and Adapted Systems Advisory Group’s recommendations in the development of the UK’s green taxonomy;
- UK uptake of the TNFD framework.
In addition, GFI Hive aims to support the Group’s needs through the provision of, by way of example:
- market briefings,
- policy updates and analysis,
- introductions to UK projects including site visits,
- showcasing member best practices through GFI Hive, and
- networking opportunities and events.
Members of this group include representatives from across the financial services in the UK who are committed to the development and expansion of high integrity nature markets in the UK.