Magazine article Public Finance

Treasury 'Must Get Its Green Act Together'

Magazine article Public Finance

Treasury 'Must Get Its Green Act Together'

Article excerpt

A former environment minister has urged the Treasury to 'get its act together' on climate change by including natural resources in the UK's economic assets.

The call came from Barry Gardiner, MP for Brent North in London. He wants ministers to ensure environmental features, such as freshwater and peat-bog stocks, are 'at the heart of government's accounting processes' and are a major influence on public policy decisions.

Gardiner raised the issue fn a parliamentary debate last week, warning that it was not possible for the government to 'bail out' ecosystems as it has done the banks.

'Without good, natural capital accounts, the importance of natural resources to economies will continue to be underappreciated and sub-optimal use made of these assets, economically, environmentally and socially,' he said.

But Gardiner subsequently told PuMc Finance that the government's response to his speech was 'pitiful' and that the issue remained 'very low on the UK government agenda'. …

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