In this month's newsletter:
- eftec shortlisted as a Financial Times Tech Champion for 2022 🏆
- for our natural capital accounting work
- The cost of the Retained EU Law Bill
- £82 billion over 30 years and nearly £35 million in civil service time
- Continuing the Ecosystem Accounting Network in the Caribbean
- Article published on our work with the UK Overseas Territories
Applied environmental economics conference from UKNEE is now open for registration.
You can view the agenda and register here.
eftec Shortlisted as a Financial Times Tech Champion for 2022
A pleasant close to last year came as we were shortlisted as a Financial Times' Tech Champion for 2022.
Shortlisted in the category of 'Markets & Financial Services', we were selected for our work producing natural capital balance sheets to reveal dependencies on nature and enable proactive decision making .
To read more about the awards, click here. We are delighted to be in such impressive company and congrats to the winners
The Cost of the Retained EU Law Bill
£82bn in foregone benefits and £35 million in civil service time
In this recently published piece of analysis completed with Wildlife & Countryside LINK, we found that the cost of dropping or weakening EU environmental laws in only 4 sectors could reach £82bn over 30 years.
There are over 1000 laws in the Retained EU Law (REUL) Bill, so the real cost of weakened protections for nature in this bill would likely be far higher. In addition, further impacts of the REUL Bill include damage to protected sites, damage to the marine environment, and the arrival of more invasive species.
It's careless to be passing this bill without sufficiently thinking about the replacements for the scrapped laws.
You can find the report in full, as well as summary, here.
Continuing the UK OT's Ecosystem Accounting Network
We have recently completed work for the Fishmongers’ Company's Fisheries Charitable Trust (FCFCT), who provided funding to extend collaboration with the UK Caribbean Overseas Territories (OTs) Ecosystem Accounting Network.
This enabled us to continue working relationships with practitioners in the OTs and to review the marine and fisheries evidence in the 2020 ecosystem accounts. Following this review, we provided a set of recommendations to further improve OT ecosystem accounts through data collection processes, wider collaboration between OT government departments, and the development of ecosystem condition indicators and valuation methodologies.
This year, we will embark on a new project reviewing storm surge valuation approaches and will convene meetings between lead statisticians and other Caribbean regional statisticians to further the ecosystem accounting practice.
For more information on this project and the network, you can read this blog on the FCFCT website.