Natural capital comprises the elements of the environment which provide valuable goods and services that allow people to survive and live healthily. To strengthen and grow our economy, we must protect and invest in our natural environment, which can offset carbon emissions and provide greater flood resilience, cleaner air and water, cooler towns, drought protection as summer temperatures rise, and greener routes for commuting and recreation. This will also create more beautiful places, encouraging business investment.
The LNP has been championing the natural capital agenda for many years, including commissioning studies to better understand the importance of our region’s natural assets. This work led to the inclusion of natural capital as part of Hull and East Yorkshire Devolution deal. We will support work to continue developing opportunities to invest in our area’s natural capital, including understanding where the priorities or pressures on the system are.
Such work can lead to more targeted flood management and equip local planning authorities and developers with a greater ability for sustainable development relevant to the local area. This will allow the potential for biodiversity compensation schemes, which are not always part of the development itself, to facilitate natural capital investment where it is most needed.
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