The UK government aims to attract £1 billion of private investment for nature restoration annually by 2030. Natural Flood Management (NFM) has been suggested as a potential market for ecosystem services that could generate private payments for nature restoration. Flooding in the UK costs hundreds of millions of pounds each year to individuals, businesses, and the government. Implementing NFM measures such as peat restoration and attenuation ponds on the land could help avoid some of these costs and provide a significant economic opportunity.
However, doubts about the effectiveness of NFM have prevented widespread investment and implementation. New research led by the University of Reading has quantified the flood risk benefits of various NFM options and modelled the economic benefits on a catchment scale.
With several NFM projects underway in different parts of the country, will this research be the catalyst needed to scale up implementation? Does it provide sufficient evidence to support NFM and unlock private investment? How will the government incorporate it into flood risk management strategies, farming, and land use policies?
This online event presented the outcomes of the NERC Natural Flood Management research programme, followed by a panel discussion and audience Q&A. More information about the NFM research can be found here.
- Chair: Helena Bennett, head of climate policy, Green Alliance
- Jim Elliott, senior policy advisor, Green Alliance
- Professor Martin Evans, Vice Dean and Head of School, School of Environment, Education and Development, University of Manchester
- David Young, senior fellow, The Broadway Initiative
- Jenny Phelps MBE, senior farm conservation adviser, Farming and Wildlife Advisory Group