Defra's £2 million pledge, valuing forest biodiversity, and the launch of TNFD 2.0
In this Month's Newsletter:
Defra pledges £2 million to the Rothbury Estate bid by The Wildlife Trusts
eftec developed the baseline natural capital account for the Estate
"Valuing Forest Biodiversity" for Forestry Commission is published
Economic valuation that respects nature’s complexity
TNFD LEAP 2.0 is launched and will soon become ISO 26239!
eftec CEO is appointed as Co-convener of the ISO Joint Working Group
Defra pledges £2 million to the Rothbury Estate bid by the Wildlife Trustseftec developed the baseline natural capital account for the Estate |
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On October 26th The Wildlife Trusts announced on LinkedIn that Defra will pledge £1.94 million grant funding to the purchase of the Rothbury Estate – a nearly 3,800 ha site that The Wildlife Trusts are working to secure. Together with a £5 million grant from The National Lottery Heritage Fund, and donations from individuals, the government’s decision contributes to one of the largest land purchases for nature in England. eftec worked with The Wildlife Trust to understand how Rothbury Estate’s natural assets could deliver greater value for nature, people and the Estate. Alongside developing a baseline natural capital account, the work explored potential revenues from nature markets and opportunities to increase the benefits derived from recreation, volunteering, and associated health and wellbeing.
As the government pledge and a number of other pledges will not be released until after the deadline, The Wildlife Trusts remain committed to fundraising toward their £30 million goal by the end of October. For more information on their campaign, visit their webpage. Image: Botany group at Rothbury Estate © John Millard |
"Valuing Forest Biodiversity" for Forestry Commission is publishedEconomic valuation that respect's nature's complexity |
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Policymakers, landowners and managers face the difficult task of creating and managing forests that deliver for nature, people and the economy. Balancing this task with other land uses and investments requires understanding, measuring, and valuing all the benefits of forests. Having a single number for the economic value of forests (e.g. £ per ha per country), as argued in some accounting and reporting spaces, would make this task seemingly easier but potentially lead to wrong decisions for siting, composition and management of forests. So, how can we embrace the complexity and still have economic value evidence that can support decision makers, when no two woodlands are the same? Valuing Forest Biodiversity demonstrates how carefully designed stated preference research can generate robust estimates of economic value that account for context and the nuance of woodlands. Results show that:
See our project summary here for further links and the reflections of Russell Drummond, Principal Consultant at eftec and the project manager for this work. |
TNFD LEAP 2.0 is launched and will soon become ISO 26239!eftec CEO is appointed as Co-convener of the ISO Joint Working Group |
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TNFD’s LEAP 2.0 is here, marking a significant step forward for organisations assessing and disclosing their nature-related dependencies, impacts, risks and opportunities. At eftec, we support clients at every stage of their TNFD journey: from exploring whether the framework is right for them, to preparing their natural capital accounts and supporting their TNFD disclosures. We’re also pleased to see work progressing on ISO 26239, which will bring the LEAP approach into an international standard. eftec CEO Ece Ozdemiroglu DSc (UK) and David Alvarez García (Spain) are co-convening the ISO Joint Working Group on Biodiversity, Natural Capital and Finance that will prepare the standard, with project leaders, Dr Stephanie Hime, FISEP and Ryan Twyford. We hope ISO 26239 can help bring natural capital accounting (ISO 14054) and TNFD assessment closer together. Our latest TNFD brochure is featured below. Find out more about our ISO and TNFD work:
Image source: https://lnkd.in/p/eqQ5t23u |
