Essex Net Zero Innovation Futures
This project identified nature-based investment opportunities across four pilot sites. Led by Essex County Council, it explored biodiversity net gain (BNG) and carbon markets, engaging landowners and investors. Key recommendations include forming farm clusters, enhancing local market knowledge, and leveraging local authorities to connect buyers and sellers.
This project is one of 24 case studies published in 2024, alongside a report evaluating the process, impact and value for money of NEIRF Rounds 1 and 2.
Access full case studyEssex is one of the most developed counties in England, with low coverage of “natural” areas, a highly farmed landscape, and a fast-growing population of 1.9 million people. By 2050 Essex summer temperatures may rise by 4.4oC and the water deficit between 2025 2050 could reach 26Ml/d. Furthermore, we expect the risk of flooding to double and much of the farmland to be reduced to Grade 4 by 2050.
The Essex Net Zero Innovation Futures project presents an opportunity to address the multiple threats the county is likely to face. By working in an area of over 1,500ha, the project will develop 4 innovative, scalable, market-ready business cases across 5 types of ecosystem services that will provide biodiversity enhancement, carbon sequestration, clean water, flood and erosion risk reduction. The business cases will include current and potential revenues over 25 years based on different interventions and overall valuation of natural assets and services where financing exists. The project partners will also co-design scalable, transparent models and strategies for the governance, promotion and delivery of different types of public and private investment in natural capital and ecosystem services.
To achieve the aims and objectives of the project we have brought together a strong consortium of partners who are experts in their field of work. Together, the partnership has the capacity to generate a highly innovative, traceable, evidence-based scalable approach for investment in natural capital and ecosystem services.
The NEIRF project gives us the opportunity to take the first step towards transitioning the county of Essex to healthier landscapes, better connected habitats and sustainable land management practices by catalysing substantial investment in nature-based projects.
Project Aim
To unlock private and public investment in natural capital assets and ecosystem services at four sites (total 1,560 ha) in the Essex Climate Focus Area and scale this to a further 30,000ha across Essex through natural capital and ecosystem services sales.
Project partners
Funding model
With the high demand for new housing in the county the Biodiversity Net Gain market is forecast to grow rapidly. Along with the emerging concept of nutrient neutrality, we expect to have strong demand for ecosystem services from developers and utilities. The project team will also look at the carbon sequestration potential of the selected sites and identify the best markets for carbon. The project partners will work closely with the 4 landowners to provide projected values of ecosystem services that can be achieved on their land, while at the same time engaging with the potential buyers to ascertain the level of demand and any additional requirements.
Future Investment Potential
With ecosystem services value of up to £9.68m over the next 25 years across the 4 pilot sites, we expect to see sufficient increase in biodiversity and carbon sequestration, while lowering the risks of flooding and erosion and improving the water quality in the catchment areas.
Due to the diverse nature of the 4 pilot sites for which investment cases will be developed, we anticipate contributing to achieving multiple 25 YEP outcomes – clean and plentiful water, clean air, protection from and mitigation of environmental hazard, mitigation of and adaptation to climate change, thriving plans and wildlife, beauty, heritage and engagement.
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