Natural Capital Markets: What farmers and policymakers need to know
| Food Farming and Countryside Commission (FFCC) | 2023 | Review | https://cdn2.assets-servd.host/ffcc-uk/production/assets/downloads/Natural-Capital-report-April-2023.pdfAbstract
Farmers are facing a volatile and uncertain future. From changes to the Common
Agriculture Policy, post Brexit, to the impacts of climate change and a nature crisis,
let alone the turbulent geopolitics affecting global food markets – all of these are
having a substantial impact on the farming operating context.
The introduction of ELMs in England and [their own sustainable land management
schemes] in Wales and Scotland and Northern Ireland is having far reaching
effects on many farmers’ balance sheets. The shift towards payments for
the provision and management of ‘public goods’ – those ecosystem services
that are not normally paid for in the marketplace – have the potential to make
a positive impact on the climate and nature crisis. But these environmental
land management schemes do not fill the gap left by CAP; and it is no surprise
therefore that farmers are now starting to look closely at the emerging
‘natural capital’ markets.