A Nature Economy
Healthy woodlands, wetlands, grasslands, soils and hedgerows are important for the biodiversity of our landscapes. But nature does much more than provide places for Wildlife. It also absorbs carbon within vegetation and soil; regulates water to reduce flood risk during storms and retain water during drought, and provides people with opportunities for physical exercise and wellbeing. These benefits, often called ecosystem services, support farms, businesses, public services and communities.
Derbyshire’s Natural Capital Strategy estimates that the economic benefits provided by the county’s natural environment are worth around £2.6 billion each year (2021 prices). This includes the natural environment’s contribution to mitigating the impacts of climate change, both flood damage to properties and providing additional water supply during droughts, reduced treatment costs for pollution, and treatment costs savings for the NHS from improved public health.
This does not mean that nature should be commodified or only valued when it has a market price. But it signifies how deeply our economy, health and quality of life depend on healthy ecosystems, and why investing in their recovery benefits us all.