Environment Agency chair calls for Treasury review on issue
Nearly 拢650bn of public and private infrastructure investment planned by 2030 is at risk unless climate impacts are factored into planning and delivery.
Emma Howard Boyd, chair of the Environment Agency, hit out at 鈥渨idespread greenwashing鈥�, which she said was compromising efforts to prepare for climate impacts like floods and heatwaves.
Speaking at a forum at the Institute of Civil Engineers, Boyd called for a Treasury-commissioned review to assess the economics of climate resilience, asking that it consider 鈥渃osts and benefits of resilient investment both nationally and by economic sectors鈥� and the balance appropriate between public and private investment.
鈥淭his would help us understand how preparedness for climate shocks supports sustainable economic growth establish an overarching ambition for adaptation investment and a plan to achieve it,鈥� she said.
Boyd, who leaves the agency in September, told the UK Centre for Greening Finance and Investment Annual Forum: 鈥淭he more businesses are transparent about their plans to transition to net zero and prepare for climate shocks, the easier it is to benchmark best practice, set standards and celebrate the companies that really are delivering on their commitments.
鈥淎s with the government鈥檚 ambition for net zero by 2050, delivering on climate resilience and nature recovery requires robust, consistent and trusted data.
鈥淚f we fail to identify and address greenwashing, we allow ourselves false confidence that we are already addressing the causes and treating the symptoms of the climate crisis.鈥�
Her intervention comes a week after the UK Climate Change Committee鈥檚 annual progress report, which stated that 鈥渆xpected changes in the UK climate will lead to risks across all areas of the UK鈥檚 economy, society and environment鈥� and that 鈥渁daptation action must be undertaken today to prepare for these impacts and is essential alongside (but not in place of) efforts to reach Net Zero鈥�.
The report also slammed government for its lack of investment in retrofitting UK homes.
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