“Chancellor Philip Hammond has pledged to implement legislation requiring developers to deliver biodiversity net-gain through all projects in his 2019 Spring Statement.
Hammond has instead been able to use his Spring Statement to outline various policy reviews.
The Spring Statement includes a major global review into the economic value of biodiversity, including the financial risks of its decline and rewards of its stewardship.
The review will examine the economic benefits of biodiversity on a global, national and local level, and to determine the most cost-effective and environmentally sustainable interventions which could be taken to protect nature.
Ahead of the review, Hammond has pledged to introduce clauses to the upcoming Environment Bill which will require all developers to generate biodiversity net-gain through all projects in the UK and overseas territories.Additionally, Hammond pledged to grant protected status to an additional 445 sq km of marine habitat in the Mediterranean.