UK Inquiry Tracker

Greening the post-Covid recovery

Environmental Audit Committee Closed Inquiry

Opened: 13 May 2020 Closed: 27 Jul 2022 Parliament page

In May the Committee held a session on the environmental implications of the Covid-19 crisis. Witnesses stressed how critical it would be to align the post-crisis recovery stimulus with the UK’s goals on climate change, biodiversity and sustainable development – given the short window of opportunity remaining to keep global … Read more In May the Committee held a session on the environmental implications of the Covid-19 crisis. Witnesses stressed how critical it would be to align the post-crisis recovery stimulus with the UK’s goals on climate change, biodiversity and sustainable development – given the short window of opportunity remaining to keep global temperature rises to a manageable level. The Committee has since agreed to launch an inquiry looking at how to align any post-pandemic economic stimulus package with the UK’s climate and environment goals. Economic impact and policy response The coronavirus pandemic has triggered a global macroeconomic shock unprecedented in peacetime. UK Gross domestic product (GDP) fell by 10.4% in the three months from February to April – with monthly output collapsing by 20.4% in April after the lockdown was introduced. As the UK emerges from the initial public health crisis, the economic challenges may intensify as the Government tapers its employee and business support packages. In Oct 2018, the Intergovernmental Panel on Climate Change (IPCC) warned that time is running out to achieve the Paris Agreement goal of limiting global temperature rises to 1.5°C. In this context, Christiana Figueres, Executive Secretary of the United Nations Framework Convention on Climate Change from 2010-2016, explained to the Committee how critical it is that climate change mitigation is at the heart of the post-COVID recovery: "Those rescue packages, US$10 trillion to US$20 trillion, will not only be defined but very likely allotted over the next 18 months. Because of the scale, they will determine the characteristics of national economies and of the global economy for several decades. It is exactly this decade, between 2020 and 2030, where climate science has been lucidly clear that we need to halve our emissions, reduce to 50% the emissions that we have right now." The Committee also heard from Professor Cameron Hepburn, Director of the Economics of Sustainability Programme at the Oxford Martin School, about the potential for green investment to boost the economy, providing more jobs; delivering higher short-term returns per pound spent by Government, and leading to increased long-term cost savings. Global leadership In 2021 the UK will be hosting COP26 and will also hold the G7 Presidency. This provides a platform for the UK to take an international leadership role and galvanise a green and climate-friendly global response to the economic crisis caused by the pandemic. The Committee’s inquiry will consider how the post-pandemic recovery can be aligned with the UK’s climate and environment goals and the role that the UK can play in driving a green recovery internationally. For further details read the inquiry's Terms of Reference. Show less

29 Recommendations

9 Conclusions

1 Report

3 Oral sessions

4 Letters

4 Events

Activity timeline 10 events

22 Jun
2021

Report published

Second Special Report - Growing back better: putting nature and net zero at the heart of the economic recovery: Government and Bank of Engl…

17 Feb
2021

Report published

Third Report - Growing back better: putting nature and net zero at the heart of the economic recovery

17 Feb
2021

Correspondence

Letter from the Bank of England to the Chair on addressing the financial risks of climate change, dated 8 February 2021

25 Jan
2021

Correspondence

Chair to the Governor of the Bank of England, concerning the post-Covid recovery, dated 22 January 2021

14 Jan
2021

Correspondence

Chief Nursing Officer for England to Chair regarding single-use plastics and PPE, dated 18 September 2020

3 Dec
2020

Oral evidence

Panel 1; Panel 2

24 Sep
2020

Formal meeting · Virtual meeting

Greening the Covid recovery: Session 2

23 Jul
2020

Oral evidence

9 Jul
2020

Correspondence

Letter from UK Health Alliance regarding Principles for a Healthy Recovery

21 May
2020

Oral evidence

Environmental Audit Committee

Oral evidence sessions 3 sessions

3 Dec 2020

View on parliament.uk

Panel 1; Panel 2

Andrew Forth · Royal Institute of British Architects Dr Steve Melia · University of the West of England Konstanze Scharring · Society of Motor Manufacturers and Traders (SMMT) Martha McPherson · Institute for Innovation and Public Purpose (IIPP), University College London (UCL) Professor Jim Hall · National Infrastructure Commission Sarah Gordon · Impact Investing Institute Stephen Fitzpatrick · OVO Energy

23 Jul 2020

View on parliament.uk

Oral evidence

Caterina Brandmayr · Green Alliance Dimitri Zenghelis · Grantham Research Institute on Climate Change and the Environment Melanie Leech · British Property Federation Richard Benwell · Wildlife and Countryside Link Sue Ferns · Prospect Trade Union Tom Thackray · CBI

21 May 2020

View on parliament.uk

Environmental Audit Committee

Christiana Figueres · United Nations Framework Convention on Climate Change Professor Cameron Hepburn · University of Oxford Professor Frank Kelly · Imperial College London Professor Kate Jones · University College London Professor Tim Lang · City University London's Centre for Food Policy Steve Waygood · Aviva Investors

Reports 1 report · click to expand

Title	HC No.	Published	Items	Response
Third Report - Growing back better: putting nature and net zero …	HC 347	17 Feb 2021	38	Responded

Recommendations & Conclusions

3 results

8 Recommendation Accepted in Part

Third Report - Growing back better…

The Government should clarify that the Bank’s monetary policy remit should include climate and nature...

The Government should clarify that the Bank’s monetary policy remit should include climate and nature objectives in the conduct of UK monetary policy, including when considering any extension of the Covid Corporate Financing Facility (CCFF) or future such mechanisms. We … Read more

Government Response

The government states the Chancellor updated the Bank of England's Monetary Policy Committee remit to include environmental sustainability and net zero objectives. However, for future CCFF support, it refers to broader intentions for mandatory TCFD-aligned disclosures across the economy by 2025, rather than a specific requirement for CCFF recipients.

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29 Recommendation Accepted in Part

Third Report - Growing back better…

We recommend that the Government, in developing further its strategy for economic recovery, give greater...

We recommend that the Government, in developing further its strategy for economic recovery, give greater priority to strategic projects aimed at encouraging nature recovery. The Government should work with conservation charities to pilot the idea of a National Nature Service … Read more

Government Response

The government accepts in part, outlining its commitment to a green recovery and highlighting the £80 million Green Recovery Challenge Fund, which supports nature-based projects, creates conservation jobs, and engages communities in nature restoration, but does not address piloting a National Nature Service.

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32 Recommendation Accepted in Part

Third Report - Growing back better…

We welcome the creation of a National Infrastructure Bank: we trust that the Government has...

We welcome the creation of a National Infrastructure Bank: we trust that the Government has learned from the experience of selling off the previous Green Investment Bank. We recommend that the Government give an unequivocal guarantee, supported in statute if … Read more

Government Response

The government commits to establishing the UK Infrastructure Bank as a permanent public sector institution via legislation. However, while the Bank's initial focus includes climate change, the government will only review the case for including nature recovery in its mandate before legislation is brought forward.

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Government Response AI assessment · 38 of 29 classified

Accepted 16

Accepted in Part 3

Acknowledged 3

Deferred 3

Not Addressed 10

Rejected 3

Total 29 recs + 9 conclusions

Correspondence 4 letters

17 Feb 2021 To committee Letter from the Bank of England to the Chair on addressing the financial risks of climate change, dated 8 February 2021

Parliament page

25 Jan 2021 Chair to the Governor of the Bank of England, concerning the post-Covid recovery, dated 22 January 2021

Parliament page

14 Jan 2021 Chief Nursing Officer for England to Chair regarding single-use plastics and PPE, dated 18 September 2020

Parliament page

9 Jul 2020 To committee Letter from UK Health Alliance regarding Principles for a Healthy Recovery

Parliament page