The UK Government has launched a Call for Evidence on boosting private sector investment in nature recovery, delivering a key recommendation of the Corry Review.
Speaking to leading figures from financial institutions, property, retail and sustainability sectors at a roundtable event in London, the Environment Secretary, Steve Reed, emphasised the importance of fostering partnerships between the public and private sectors to support economic growth while powering nature recovery.
Businesses across the UK, whether in food and agriculture, construction, finance, or retail, rely on a healthy natural environment to operate, grow and innovate.
A Defra spokesperson said, “Whether powering Britain’s industries, safeguarding our food security or protecting public health, over half of global GDP is highly or moderately dependent upon nature. England’s natural capital is valued at £1.4 trillion and generates over £35 billion worth of economic benefits annually excluding oil and gas, more than any single manufacturing sector.
“That is why more private sector investment in nature recovery is vital. To help deliver that increased investment a new government Call for Evidence has launched today seeking ideas from business and investors – delivering a key recommendation of the Corry Review and the commitments made in the Land Use Framework consultation.”
Environment Secretary, Steve Reed, said, “Nature is essential to strong and sustained economic growth, which is this government’s highest priority. Private investment will help us to protect and restore our natural environment while creating new economic opportunities as part of the Plan for Change. This is an exciting opportunity to hear from businesses, investors, and other stakeholders on how we can work together to increase investment in nature.”
Dr Rhian-Mari Thomas OBE, CEO of the Green Finance Institute, said, “Unlocking the billions needed for UK nature restoration hinges on effective revenue models. UK businesses, as buyers of environmental outcomes, are crucial in creating those revenue models, and we’re looking forward to supporting Defra in better understanding how we can encourage and support business engagement.”
The roundtable, hosted by Lloyds Banking Group and led in partnership with the Green Finance Institute (GFI), brought together leaders from across finance and business, including leaders from Aviva Investors, Barclays, Barratt Homes and more.
Defra will partner with the GFI to engage businesses on the call for evidence and wider nature finance priorities – alongside ongoing work with UK businesses to implement the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD).
Defra said that promoting investment opportunities in nature creates opportunities for business growth across multiple sectors, including farmers looking to diversify their revenues, agri-food businesses securing supply chain resilience, insurers and water companies reducing costs from floods, droughts, and pollution, developers managing climate and environmental risks to new homes and infrastructure, as well as growth in the tourism and recreational sectors.
The roundtable meeting also discussed the next steps for the Big Nature Impact Fund, the Defra-backed public-private blended impact fund for nature. Finance Earth will act as sole fund manager and will begin fund-raising soon. The Fund will invest in woodland creation, peatland restoration and other habitat creation projects that aim to maximise social and environmental impact by funding the right activity in the right place.
Andrew Walton, Chief Sustainability Officer, Lloyds Banking Group said, “As the UK’s largest infrastructure finance provider, we know how blended finance can help deliver a step change in private investment to drive sustainable growth. We welcome the government’s ambition on nature markets and the opportunity to establish the UK as a global leader in this important area. Robust standards, reliable data and long-term policy direction are key to building confidence in the investment case for nature and can place it at the heart of UK growth.”
The Call for Evidence will be open for responses until 10 August 2025