Broadway’s Nature Markets Dialogue and the EIP Review converge at UN Global Compact events

Broadway Initiative • 22 October 2024

The Broadway Initiative has collaborated with UN Global Compact at two recent stakeholder events, bringing together corporates and professionals from across the economy to discuss the future of business’s contribution to nature recovery.


The events proved especially timely as Broadway works to shape the current Environmental Improvement Plan (EIP) review and revision being undertaken by government, channeling our members’ and stakeholders’ views into the Defra process.


The first event took place at the fabulous London Guildhall, venue for the UN Global Compact UK Annual Summit. Broadway were invited to run a breakout session at the Summit, a session we chose to theme around the government’s EIP review. We asked Defra’s Deputy Director for Strategy Andrew Jackson to join us and engage our invite-only attendees in a lively workshop. UN Global Compact’s Sarah Cook set the scene and explained the relevance of the EIP review to business, Andrew Jackson outlined Defra’s proposed procedure, while Broadway’s Liam Stokes explained how the Broadway Initiative will be linking business into that process.


The heart of the session, however, was the interaction with business colleagues. Vigorous discussion gave rise to clear steers for government and for Broadway to take away: a strong appetite for both science-based targets and immediate drivers of nature positive action, with an understanding that robust targets will take time to develop but nature needs action now; sector planning is needed to drive engagement with the EIP, but also planning that harmonises across sectors, across government and across targets (such as net zero, EIP and economic growth;) and the vital role that credible nature markets have to play in achieving a nature positive contribution.


The following week, Broadway joined UN Global Compact again, this time online for the final webinar of their Nature Based Solutions for Business series. Speaking on the subject of Unlocking Finance, Liam Stokes took the opportunity to tell hundreds of delegates about the development of nature market policy, the significant work left to do, and how they can play a role in that work by signing up as a participant to Broadway’s Nature Markets Dialogue (NMD). Since highlighting the timeliness of this work, as government seeks to revise and review the EIP that could drive demand for nature based solutions, many new professionals have signed up to engage with the NMD. An excellent example of instant, real world impact!


For more information: https://www.unglobalcompact.org.uk/nature-based-solutions-for-business/


by Broadway Initiative 17 February 2025
The Broadway Initiative was delighted to attend the first meeting of the relaunched Net Zero Council (NZC), the central forum where Ministers, the financial community, and leaders from business and civil society can coordinate the business transition to net zero. Broadway worked hard to secure the future of the NZC, and now jointly provides the secretariat, ensuring our members are connected to the heart of the Council's activities. The Net Zero Council has a renewed emphasis on offering expert insights to shape government policies on net zero. It is dedicated to supporting the creation and implementation of sector-specific roadmaps, equipping businesses with transition planning tools, and enabling investors to identify key opportunities. Commenting on the relaunch of the Net Zero Council, Broadway Initiative Convenor Ed Lockhart said: "UK businesses need certainty, including on the transition to a clean energy future, to invest, grow, and ultimately improve living standards. By launching the Net Zero Council aligned to the clean energy mission, the government is providing a much-needed platform for the business community, financial institutions, civil society, and government to work in partnership on a shared and inclusive long-term plan. The Broadway Initiative looks forward to bringing business and environmental organisations together to make the most of this opportunity." As the Net Zero Council moves forward, Broadway remains committed to facilitating meaningful engagement between policymakers and business leaders. We will continue to advocate for the practical measures and regulatory clarity needed to accelerate the UK’s transition to a net zero economy. Read the Government's Press Release: Net Zero Council relaunched to supercharge Clean Energy Superpower Mission Read more about the Net Zero Council
by Broadway Initiative 10 February 2025
On the 6th February the Nature Markets Dialogue (NMD) hosted the first workshop of 2025. Professionals drawn from across the demand, supply and operational sides of nature markets met to continue the discussion of the critical need for robust governance. The workshop built on 12 months of effort to convene a consensus around the future for nature market development, rooted in the belief that by working together we can reach the best possible outcome. Government is engaged and listening, at a crucial moment for environmental policy development, so we were delighted so many knowledgeable individuals joined us to pool their experience and expertise. The session was characterised by both a realism that these issues have been under discussion for some time and there has been some disappointment along the way, and by a strong sense of optimism that we will eventually secure market integrity in the UK. Perhaps inspired by the ideas in the NMD Governance Paper or by the healthy turnout of professionals prepared to collaborate, 61% of attendees counted themselves as positive that our goals will be achieved. The purpose of the event was to workshop answers to the NMD Governance Consultation , which remains open to everyone until the 28th February. From the 15 questions, six were identified as being of particular interest via a pre-meeting poll. Those six were subject to rigorous discussion in smaller breakout groups, as the attendees helped shape and form each other’s responses. The true outcome of this process will be recorded in the responses to the consultation itself , but the workshop highlighted some key themes that are sure to come out in the conclusions: The need for government leadership and action The need to learn from existing good practice at home and abroad The vital importance of the government’s new Land Use Framework consultation A clear focus on nature recovery at all times The significance of data platforms and emerging technologies The results of this consultation will build towards a governance framework that the NMD will propose to government at a future Ministerial roundtable. Everyone at the Broadway Initiative is extremely grateful to all participants, and to Bruce Howard from the Ecosystems Knowledge Network who so ably facilitated the workshop.
by Broadway Initiative 23 December 2024
At a time of significant change in UK environmental policy making, the Broadway Initiative's ' Nature Markets Dialogue ' (NMD) is seeking your views on how investment in nature is governed. Your responses will help shape our approach to Government, as we plan to propose a governance framework for high integrity nature markets. To that end, you are invited to share feedback on the latest consultation paper: Towards a governance framework for high integrity nature markets. The consultation paper has been informed by the feedback, roundtables and online workshops that NMD participants have supported over the past 12 months. A key message from the Dialogue to date is that well-designed and governed nature markets are first and foremost about providing an efficient mechanism for the delivery of verified improvements to the natural environment. Nature markets can deliver improvements to meet voluntary or regulated obligations, provide insets for supply chains and offsetting for development, and efficiently deliver government investment in nature. This is a vital moment for environmental policy development: the Environmental Improvement Plan is under review and revision; the Cunliffe Commission and the Planning Reform Working Paper on Development and Nature Recovery are seeking evidence; and we expect the Government will soon consult on the governance of Voluntary Carbon and Nature Markets. We have a unique opportunity to highlight the need for a robust UK governance mechanism that ensures UK nature markets are high integrity and make a significant contribution to nature’s recovery. We have created an online portal to obtain your feedback and views here, where we have 15 specific questions on which we would value your thoughts . In addition, we will be hosting a series of workshops in the coming weeks to progress the Dialogue around the issues raised in the paper. The process will culminate in a roundtable to present the results and recommendations to Ministers. Find out more about the UK Nature Markets Dialogue .
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