October 2021 Newsletter

In this month's newsletter:

  • Revealing the £44-97 Billion Gap in Finance for UK Nature: our report for the Green Finance Institute
  • Understanding the Reasons for Forming a Company: our work for BEIS
  • GoodCOPbadCOP - a theatre festival to coincide with COP26

Special Notice:

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Join us to be part of our team and put economics to good use.


Revealing the £44-97 Billion Gap in Finance for UK Nature

Map showing funding gap for nature in UK

Last week, Green Finance Institute published The Finance Gap for UK Nature Report, which we prepared for them with input from Rayment Consulting.
 
The project collated evidence on what is required to deliver a selection of UK’s nature-related outcomes and statements of commitment to spend. The gap between the two is presented in the aggregate for the UK and its devolved administrations, as well as for individual outcomes which include: clean water, protect and / or restore biodiversity, reduce flood risk through natural flood management, improve bio-resource efficiency, climate mitigation through bio-carbon, enhance biosecurity, and improve access and engagement with natural environment.
 
The findings from this report were covered by Reuters, Bloomberg, and many local, regional, financial, and environmental publications in the UK and elsewhere. To access the report and press release, visit the GFI website here.


Understanding the Reasons for Forming a Company

BEIS logo

We recently completed a yearlong study for BEIS into why business owners decide to incorporate their businesses as limited liability companies (LLCs). This looks like a completely different field to ‘environmental economics’ but essentially it is another opportunity to make benefits that are invisible in a market, visible.

We designed, implemented, and analysed a Stated Preference survey to a large sample of businesses of different sizes across the UK, including both those operating as LLCs and as sole traders. The survey included a choice experiment which asked respondents to choose their preferred business formation out of a series of alternatives, each with different characteristics (such as level of personal liability, company reporting requirements, and cost of registration). The responses were analysed to provide insight on the added value of company incorporation for business owners individually and in aggregate for the UK.  

A key finding is that the total value of company incorporation to owners of LLC with 0 to 9 employees in the UK - which represents about 89% of LLC businesses in the UK by number of employees - is estimated to be around £9.6 billion per year.

The report, which has recently been published by BEIS, can be viewed here.


GoodCOPbadCOP - a theatre festival to coincide with COP 26

GoodCOPbadCOP festival banner

As world leaders meet in Glasgow next month, Rising Tides and The Space are bringing artists to the table. Good COP, Bad COP is a two-week festival of new writing, readings, workshops, films, and music to creatively engage with the issues that face our future.
 
We recommend this festival as a provocative way to broaden our understanding of environmental concerns and responses beyond economic approaches.
 
Click here for more information, the event schedule, and how to attend.