But this view, and the government’s obsession with economic growth, is flawed and in the medium term at least it is bound to fail, making future economic crises even worse.  This is because the economy rests on the foundation of nature and nature in the UK and globally is under the cosh of ‘grow baby grow’.  The foundations of the economy are weakening.

In his 2021 report, ‘The Economics of Biodiversity’,  Professor Sir Paval Dasgupta showed that nature is an integral part of the economy and that economic policy had to account for and mitigate its impact on nature. Policies and actions that damaged nature beyond nature’s capacity to recover were counterproductive and would lead to economic decline. He concludes, ‘Our economy, livelihoods and wellbeing all depend on our most precious asset: Nature.’

This conclusion has been further developed by the Institute and Faculty of Actuaries in a report published in January 2025 titled ‘Planetary Solvency, Finding our Balance with Nature’.  Lead author Sandy Trust stated the situation very clearly: “You can’t have an economy without a society, and a society needs somewhere to live. Nature is our foundation, providing food, water and air, as well as the raw materials and energy that power our economy. Threats to the stability of this foundation are risks to future human prosperity which we must take action to avoid.”

Actuaries assess risk advising business and Governments about the probabilities of success or failure of policies and projects.  They see an increasing swarm of risk facing us in the near future as a consequence of our failure to halt the decline of nature which is amplifying the effects of climate change.  Risks include fire, floods, decline in food production, water stress and the spread of pests and diseases.  They will lead to conflicts and mass migrations of people, leading to political instability.  All this will affect global supply chains disrupting the global economy.  They foresee a decline in global GDP of between 50% and 70% by the last quarter of the century.

In 2024 the Green Finance Institute calculated the cost to the UK economy of the degradation of nature. Their report: ‘Assessing the Materiality of Nature-Related Financial Risks for the UK’ concluded that the deterioration of the UK’s natural environment could lead to an estimated 12% loss to GDP by the mid 2030’s.  This would be a greater hit to the economy than either the 2008 financial crisis or the Covid pandemic.  This ‘hit’ would come during what Mr Starmer and Ms Reeves hope will be their second term of office. They should take careful note of these risks.

The losses are not just related to impacts on the UK environment such as soil loss, flooding and storm damage but also come from disruptions to essential supply chains that feed into the UK economy.  Problems in supplier countries of either environmental disasters or of consequential civil and political disruptions will impact on the operation of UK business and therefore UK GDP. 

The vitally important Food & Agriculture sector is particularly at risk through unpredictable climate, water shortage, flooding & drought, disease, pollution & loss of soil quality.  Sectors dependent on predictable water flow such as energy may experience disruption and loss. Problems in supplier countries will affect businesses as much as domestic problems.  Difficulties and increased costs for business feed through to the financial sector creating  inflationary pressure with the growing risk of defaults and bad debt.

This study adds further evidence to support the conclusion from the Dasgupta Review and others that an early orderly transition toward a nature-positive economy brings significant benefits for UK prosperity and financial stability, through reducing both transition and physical risks, as well as for people and planet.  Economies that have navigated the transition to a more resilient and sustainable economy and productive base will have a major competitive advantage over those countries that have doggedly pursued ‘business as usual’ policies.

The UK lacks progress in meeting targets to reverse biodiversity decline.  It failed to meet the targets it had agreed to in 2011 under the UN Convention of Biological Diversity and is not on track to meet the agreements made in Montreal in 2022 under the Global Biodiversity Framework as the State of Nature report 2023 makes clear.  Nature continues to decline in  all the countries of the UK. The drivers of decline are not being addressed  by Governments. 

This failure to properly address the decline of nature is putting our economic prosperity at risk, as these reports make very clear.  Pushing for developments to boost growth of GDP and riding roughshod over concerns for biodiversity are putting our future prosperity at risk.

The Institute of Actuaries states clearly that risk also comes from actions of economic actors who inhibit, contradict or block actions designed to protect and restore nature.  A Prime Minister who calls this concern for nature as NIMBYism is risking our future prosperity.  Lobbyists and media who try to block the transition to a zero carbon energy system are putting our future prosperity at risk.  Landowners who try to block the transition to nature friendly farming are putting our future prosperity at risk.

Wales will have to make the transition to a sustainable economy. Faced with harsh economic pressures, its transition is in danger of stalling.  As a small economy the needed change could be simpler and quicker than for the whole UK although the lack of finance will cause difficulties. A bigger problem though is the lack of cooperation and goodwill among the economic players.  Resistance to change is notable among landowners and some farmers.  Some of this is down to poor communication and also to a long history of distrust of government.  The stakes are high and Wales now has an opportunity to be a pioneer in developing a sustainable economy with the new products and skills that will be needed. The conservative mind set sees only the risk of making the transition and fails to see the opportunities. But the greatest risk lies with a delayed and chaotic transformation in the face of mounting crises.

 Mike Shipley

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It was such an inspiration watching the Children defend their future, and heart-warming to know that all around the world Children just like them were united all around the world.

In Bangor, the strikers were joined by Iolo Jones Green Party Town Councillor in Llanfairfechan, where the passionate children did all the talking and they were fantastic.

Iolo Jones Town Councillor Llanfairfechan at the Global Climate Strike in Bagor

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Having now adopted a policy of being carbon neutral by 2030 – hopefully sooner – the Council can now work extensively towards this target. From using weed killers to implementing planning policies, this declaration will affect every decision the council makes going forward.

Our new Green Town Councillor Rachael Ayres, who represents the Upper ward in Denbigh said, This is fantastic news for Denbigh and the county. She is really looking forward being involved and helping to make any positive changes.

Having campaigned for the declaration of a climate emergency in a succesful protest organised by Extinction Rebellion at Saturday’s Ruthin Festival the North West Wales Green Party will continue to pressure Denbighshire County Council and make sure it acts upon today’s declaration. If you would like to join us at this exciting time – and maybe even volunteer or stand as a Councillor in Denbighshire – please contact us at northwestwales@walesgreenparty.com.

The post Denbighshire County Council Declare A Climate Emergency appeared first on North West Wales.

North Wales has great opportunity to use this to revolutionise our economy and industries creating new jobs and fresh investment in North Wales. By declaring a climate emergency, we can ensure that we make substantial progress to a carbon free future from housing, transport and farming to energy.

For a long time, the Green Party have been shouting about the advances of a Green New Deal and the benefits of protecting the climate not just the next 10 years but our descendants we are yet to even think of.

Anthony Slaughter Green Party Leader at the AGM in Scarborough this year said “Wales deserves better. As a nation with unrivalled natural resources and a long history of tackling social injustice, Wales could and should be leading the way in creating a greener and fairer future. Greens are the change that Wales needs. Greens promoting a Green New Deal. Greens introducing a Citizen’s Income. Greens standing up to the rise of the far right. Greens fighting to keep our place in Europe.”

Conwy Council have already declared a Climate Emergency and we hope that Denbighshire will follow soon

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We joined Extinction Rebellion North Wales in Conwy to show support for Conwy Council to declare a climate emergency.

Here are the some photos from the march

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