WWF calls on Osborne to drive the transition to a sustainable economy

WWF-UK recently launched ‘A Greener Budget’ to illustrate how a sustainably run economy can create jobs, safeguard against risk, and protect the resources we rely on for economic security. A smarter approach to the Budget, that takes account of the value of the natural environment and responds to global threats and opportunities from natural resource scarcity and climate change, would promote greater resilience and generate substantial benefits to the UK economy and businesses.

The report calls for this and future budgets to:

•    Promote the protection and improvement of natural capital, building on the work and recommendations of the Natural Capital Committee
•    Drive innovation and investment in resource efficiency
•    Provide incentives for growth in low carbon industries, and encourage energy efficiency, including through a major programme of investment as part of the Government’s long-term infrastructure plan
•    Ensure that government expenditure promotes sustainability
•    Promote a more resilient and sustainable financial system

Ben Stafford, WWF-UK’s Head of Public Affairs, said:

“Responsible environmental stewardship would make the economy stronger and deliver a better quality of life for everyone.

“We’re not paying enough attention to the economic risks associated with natural resource scarcity, natural capital depletion, and climate change.  Adapting to these changes would bring huge opportunities.

“The Chancellor should work harder to drive the transition to a sustainable economy - investing in the natural asset base on which the economy and businesses depend, and providing greater stimulus to new and emerging sectors that will drive clean growth in the future.”

The report is available in full on the WWF website.