UK-based investment firm Gresham House unveils plan for reviving UK's biological diversity
The UK-based asset manager, Gresham House, has launched a sector-specific biodiversity strategy in partnership with Environment Bank Limited (EBL), aiming to prevent biodiversity decline in the UK. The strategy, known as the Biodiversity Co-Invest LP, has secured over $300m from Gresham House and its investors, with Wilson Towers Watson (WTW) serving as the cornerstone investor, aiming to raise an additional $380m.
This new market, worth hundreds of millions of pounds annually, has been enabled by the UK Government's biodiversity net gain (BNG) requirements, coming into force with the Environment Act 2021. The Act requires developers to achieve a minimum 10% biodiversity net gain for their sites to gain planning permission.
The strategy invests in 'habitat banks', which are developed by EBL to turn non-arable farmland into woodlands, wetlands, and species-rich grasslands. Over 3,500 hectares of land, either in development or under offer, are part of the strategy. BNG units are generated from these assets and sold to developers in accordance with the UK government's BNG metrics.
A team of ecologists and land management specialists has been tasked with ensuring the delivery of biodiversity-rich landscapes in strategic locations. The partnership with WTW is aimed at tackling the grave threat of biodiversity loss in the UK, and Professor David Hill CBE, chairman and founder of EBL, has expressed satisfaction with the rapid mobilization of capital from institutions like WTW and Gresham House into the biodiversity market.
Peter Bachmann, managing director of sustainable infrastructure at Gresham House, stated that addressing biodiversity loss is crucial to combating the climate crisis. He added that the quality of EBL's ecology and proposition has been recognized globally, and that the partnership with Gresham House has brought a game-changing solution to market.
Professor Hill further emphasized that this partnership underscores the growing recognition of the importance of biodiversity and the need for meaningful investment in nature-based solutions. As the UK ranks in the bottom 10% globally in terms of biodiversity, the partnership aims to create a solution tailored to the needs of the UK government and industry.
For precise information on the structure, partners, and impact of the Biodiversity Co-Invest LP strategy, it is recommended to check Gresham House’s official communications, investment disclosures, or recent reports related to their biodiversity-focused funds.
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