Biodiversity Net Gain (BNG) is an unprecedented opportunity to channel private finance into nature at scale and deliver meaningful ecological outcomes in England, not only mitigating harm from property development, but making an additional positive contribution to the local environment.
The government has been rightly ambitious to develop this policy, and the resulting market potential is substantial, estimated to be worth between £135 million and £274 million annually.
BNG offers potential benefits not only for the environment, but also for local communities, government, and the wider economy. With these potential benefits of BNG in reach, it is vital that the policy is implemented successfully. BNG is viewed as a highly ambitious policy, and many interested parties – both domestic and international – are watching to see how these many opportunities can be realised.
A group of experts leading on the development of BNG projects and investment in BNG projects across England – spanning ecology, land use, academia, finance, and local government – has formed to support the rollout of BNG, but also highlight that its success hinges on several factors yet to be addressed. These relate to the robust supply of, and demand for, BNG units and building capacity within the market.
On request, the Green Finance Institute convened these stakeholders (see Working Group Participants) to prepare this briefing note that calls to attention five high and immediate priorities for government to address to ensure the success of the newly launched BNG market.
The full briefing note is available here
