Rt Hon John Glen MP, Chief Secretary of the Treasury, has unveiled a new environmental and economic vision for the UK. In a recent speech, he explained how we could mobilise resources and revamp the global financial system to ensure a sustainable, prosperous future. According to the MP, the UK has seen a 69 percent drop in wildlife populations over the past 50 years. In the same period, freshwater populations have sunk by an average of around 83 percent. The next generation is facing a planet where there is a real threat of extinction for over one million species. Coral reefs and dense forests are also rapidly disappearing.

The irresponsible manner in which humans use, or rather misuse, natural resources is the cause of such disastrous developments. Climate change and increased pollution are also offshoots of human misadventures. Despite their continuous efforts, past governments in the UK could not stem the decline of natural resources and damage caused by human misuse of nature. The rapid degradation of nature also impacts global GDP severely. There is an urgent need to protect ecosystems.

Unfortunately, in the name of economic growth, our ecosystems are being systematically degraded. Growth and economy are not connected. The Chief Secretary says many countries have missed international environmental protection and sustainability targets. He averred that this government has a clear economic and ecological vision. According to the MP, a recent valuation of the estimated stock of UK natural capital was fixed at 1.8 trillion. Quick action is needed to halt and reverse the global and local loss of biodiversity. The MP recommends that this must be achieved by 2030.

Environmental Improvement Plan

Environmental Improvement Plan

The UK has already initiated steps to improve environmental conditions. The first step was the introduction of the Environmental Improvement Plan in January 2023 by the Prime Minister. It is a blueprint for halting the decline of nature and reversing it. The plan includes targets for reducing species extinction risk by 2042 and restoring or creating more than 500,000 hectares of wildlife-rich habitat by the same period. The country will also invest around 750 million in tree planting and peatland restoration through the Nature for Climate Fund.

Species Survival Fund

Species Survival Fund

The Species Survival Fund aims to create, restore, and extend around 70 areas for wildlife and protect 30 of the land and sea for nature in the UK. It will support the management of 70 percent of the countryside by providing farmers monetary benefits to adopt nature-friendly farming practices. The fund also aims to take action to prevent the loss of the country's rarest and fastest declining species.

Rt Hon John Glen says that the Government can't try to fix everything by itself. However, they have a crucial role in achieving the objectives, especially the funding part.

Other Commitments

Other Commitments

Under the UK’s COP26 Presidency, 145 countries signed the Glasgow Leaders Declaration, which agreed to halt and reverse deforestation and land degradation by 2030. At COP27, a year later, the UK government made 150 million available to protect rainforests and natural habitats, including the Congo Basin and Amazon. They have also launched a 500 million Blue Planet Fund to support developing countries to protect the marine environment and develop sustainable marine economies. The country committed to triple climate adaptation from 500 million in 2019 to 1.5 billion by 2025 and also confirmed an 11.6 billion commitment to international climate finance, spending at least 3 billion on solutions that protect and restore nature.

All these investments have produced tangible results, according to the government.