My Lords, it is a great pleasure to follow the noble Baroness, Lady Young of Old Scone, and to express my support for nearly all the amendments in this group, except Amendments 263 and 265.
We should start by acknowledging that this is yet one more sign that campaigning works. Schedule 16 represents amendments brought by the Government in the other place which reflect the campaigning of a great many NGOs and other groups and, as other noble Lords have said, the conclusions of the independent Global Resource Initiative Taskforce. However, as multiple briefings that we have all received show, it still needs improvement to deliver on the recommendations of the GRIT and the expectations of UK consumers and businesses.
I shall not go through each amendment, but I shall start with Amendment 293B in the name of the noble Lord, Lord Randall of Uxbridge, because it is in many ways the most far-reaching and crucial. This is the one that calls for a global footprint target. I shall start with the benefit for the UK, before looking more broadly. It would reduce the risk of future pandemics; I do not really need to say more than that. It would help safeguard against the economic costs of biodiversity decline and climate change. The WWF Global Futures report calculated that that will cost the world at least £368 billion a year, with the UK suffering annual damage to its economy of £16 billion a year by 2050. It would also support the resilience of UK and global businesses. It would help businesses to manage risk proactively. Coming back to the Government’s desire, of which we so often hear, to be world-leading, it would mean that the UK was the first country to embed the latest pledge for nature into its legislation. It is crucial.
It is worth noting that this amendment is another way of addressing the issue I addressed in the amendment I moved to Clause 1, many days ago, on reducing resource use rather than making it more efficient. We need to reduce our ecological footprint by around 75% to fit within ecological limits. The WWF global footprint report looked at some of the key issues: our material footprint needs to come down by 38%, biomass by 48%, nitrogen—for which I tabled a specific amendment earlier—by 89%, and phosphorous by 85%.
The most basic amendment that I would surely suggest the Minister has to adopt in some form is Amendment 264A, in the name of the noble Baroness, Lady Meacher. She has already made many powerful arguments, in particular that if we do not introduce this amendment there will a perverse incentive to encourage the legalisation of deforestation. UK businesses could also benefit from this amendment. Currently, in many parts of the world laws relating to land use, forests and commodity production are numerous, uncertain, inconsistent and poorly implemented. It is
very difficult to determine legality, and companies can be trapped in a regulatory, paperwork minefield from which the amendment of the noble Baroness, Lady Meacher, could free them. Of course, 2.1 million hectares of natural vegetation within the 133 Brazilian municipalities that currently supply the UK with soya could be legally deforested.
I come now to Amendment 264ZA in the name of the noble Baroness, Lady Jones of Whitchurch, which calls for the recognition of customary land ownership and membership systems. Some 80% of indigenous and community lands are held without legally recognised tenure rights. We know that in indigenous and tribal territories, deforestation rates are significantly lower. Ensuring respect for customary tenure rights is an efficient, just and cost-effective way to reduce carbon emissions. Noble Lords who have been reading The House magazine might know that I have some recommendations for summer reading in there. I would like to add an extra one: Imbolo Mbue’s second novel, How Beautiful We Were, which is set in a fictional African village and shows how it was depleted by centuries of the activities of fossil fuel companies, forest exploitation and rubber plantations, going back to slavery. We really cannot allow this kind of relationship with the world to continue.
I come now to Amendment 265A in the name of the noble Baroness, Lady Parminter. What we are doing here is the reverse of what your Lordships’ House achieved in the Financial Services Bill. After a lot of wrestling, we finally got a reference to climate—although, unfortunately, not biodiversity—into the Finance Bill. What we also need to do is to get recognition of the damage the financial sector does to the rest of the world, and we need to see finance addressed in all the other Bills. The UK is the single biggest source of international finance for six of the most harmful agribusiness companies involved in deforestation in Brazil, the Congo basin and Papua New Guinea, lending £5 billion between 2013 and 2019. These UK banks included HSBC, Barclays, and Standard Chartered. We simply cannot allow this to continue.
Noble Lords may not think so, but I am really trying to be brief, so I will turn to some very short concluding thoughts. If deforestation was a country, it would be the third largest emitter of carbon, behind China and the US. Some 80% of deforestation is associated with agricultural production, yet figures published this afternoon from five major UN agencies show that the number of people without access to healthy diets has grown by 320 million in the last year. They now number 2.37 billion in total. A fifth of all children under five are stunted because of lack of access to the most basic resource of all: food.
We have to stop wrecking other people’s countries. We have to ensure that our lives are lived within the limits of this fragile planet, and that everyone else has access to that same basic level of resources that is their human right.