Barry spoke on the first afternoon of debate following Rishi Sunak’s Budget speech. He firstly reminded the House that Coronavirus is a zoonotic disease, and as such has emerged due to human exploitation of the natural world and will be repeated unless we rethink our relationship with nature. On this, Barry called for not only greater investment but a complete rethinking into our institutional and economic frameworks, highlighting recommendations from the Treasury’s Dasgupta Review to view the biodiversity crisis as a crisis of asset management. He called for recognition that our economy is bound by nature and our present levels of consumption are outstripping nature’s ability to produce the services and goods we demand.
Barry also highlighted the potential for jobs creation through a true Green recovery, with the potential for 1 million jobs by 2030. However he highlighted this will only come through long-term investment and efficient infrastructural programmes, citing the failures of the Green Homes Grant in incentivising homeowners to retrofit their homes. Finally, Barry addressed the need for financial sector alignment to the net-zero target, welcoming the update of the Bank of England’s mandate to include Climate and Environmental sustainability in dictating monetary policy but calling for climate and nature-related financial disclosures for listed companies.
You can watch Barry’s abridged speech to the House and his full speech below.