05 February 2025 - Following the Department for Environment, Food and Rural Affairs's (Defra) announcement of £2.65 billion for flood defences, Bev Cornaby, Director the UK Corporate Leaders Group, commented:
"Today’s announcement of £2.65 billion for flood defences is a welcome and necessary step to protect homes, businesses, and farmland.
"The devastating impacts of climate change are already being felt across the UK, and the risks will only grow. As mentioned in my recent op-ed, by 2050, the number of people at risk of flooding could rise by 61% under 2°C of warming and by 118% under 4°C.
"However, government funding will never be enough to deliver true resilience. We need a joined-up approach that brings together business, finance, insurers, and local communities alongside government. The private sector has a key role to play in both investing in resilience and helping to reduce risk, ensuring that our infrastructure, supply chains, and financial systems are fit for a changing climate.
"The UK’s ongoing Land Use Framework consultation provides an opportunity to think more holistically about how we manage our landscapes to address climate risks. Nature-based solutions must be central to our flood resilience strategy, not just as an add-on but as a core tool in reducing flood risk while restoring ecosystems.
"Some argue that environmental action comes at the cost of economic growth, but this is a false choice. With the right policies and investment, we can deliver a win-win - strengthening our economy while using nature to protect people’s homes, businesses, and jobs. Business understands that resilience is an economic imperative, and it’s time to move beyond reactive spending towards long-term, joined-up solutions."
