A government-commissioned report on financing natural flood management shows measures should be taken to encourage more investment from the private sector
More private finance would flow into paying for measures to restore nature that can also help lower flood risks if the UK government adopted standards for so-called natural flood management, says a report by the UK-based research organisation Green Finance Institute.
The GFI sets out its recommendations in a report commissioned by the Department for Environment, Food and Rural Affairs. Flooding is the UK’s biggest natural hazard, costing the country £2.2bn annually, says the institute in a report published on March 20.
“Natural flood management has huge potential to boost the UK’s resilience to flooding, but requires greater participation from the private sector,” says GFI director of nature programmes Helen Avery.
In addition to government-backed standards, the report includes the creation of an asset database recording the locations of NFM projects among its list of seven recommendations designed to kick-start private sector interest.
You can read the full report here.