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Formal meeting (oral evidence session): Nature-based solutions for climate change

Science and Technology Committee (Lords)
Nature-based solutions for climate change

Tuesday 19 October 2021

Start times: 10.00am (private) 10.00am (public)


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Nature-based solutions for climate change: Regulation and financing

The House of Lords Science and Technology Committee will hold its third evidence session for its inquiry into nature-based solutions for climate change. The Committee will investigate the regulation and financing of nature-based solutions. Effective regulations should incentivise financing of nature-based solutions, while ensuring the targets of the schemes are realistic, and monitoring that they deliver the promised results.

The Committee will hear from experts and users about what schemes exist to regulate and finance nature-based solutions. Members will query how well the schemes work, what financial or regulatory barriers exist to the wider roll-out of nature based solutions, and what needs to change. Members will also seek to understand any scientific uncertainties that make nature-based solutions difficult to regulate.

The first panel will focus on the Carbon Codes. The Codes set regulatory standards to ensure any nature-based solutions deliver the carbon sequestration they promise. A Woodland Carbon Code and a Peatland Code already exist; a Saltmarsh Carbon Code is in development. The Committee will hear from experts in all the codes to understand how they are working and the state of the evidence base underpinning them.

On the second panel, the Committee will hear from those involved in green financing. The Committee will look at how private financing is leveraged to support nature-based solutions, what the barriers are to their wider adoption and how the Government should encourage the private sector to invest in nature-based solutions. The Committee will hear about examples of where privately financed natured-based solutions have been successful and ask what lessons should be learned.

Meeting details

At 10.00am: Oral evidence
Inquiry Nature-based solutions for climate change
Head of Economics and Woodland Carbon Code at Scottish Forestry
Coordinator at Peatland Code
Wetland Biogeochemist at UK Centre for Ecology and Hydrology
At 11.00am: Oral evidence
Inquiry Nature-based solutions for climate change
Head of Nature Programmes at Green Finance Institute
Lawyer and Partner at Wheatley Young Partners
Co-Founder and Managing Director at Finance Earth

Possible questions

  • Does the Carbon Code standard as it exists, or is planned to exist, work well – can it attract the required scale of investment for restoration efforts?
  • Do the Carbon Codes account sufficiently for the scientific uncertainties in carbon sequestration rates and carbon storage potential for ecosystems and restoration projects?
  • Are there examples of successful restoration projects which have been supported by the Codes what were the factors behind their success?
  • What are the major barriers for private investors investing in nature-based solutions?
  • Do sufficient incentives exist to encourage the private sector to invest in nature-based solutions on the scale required to achieve the government’s targets?

Further information

Location

Room 4, Palace of Westminster

How to attend