Fostering Prosperity

Driving innovation and creating market opportunities through environmental regulations.

The Fostering Prosperity report, researched and drafted by Buro Happold on behalf of the Aldersgate Group, seeks to encourage the use of environmental regulation to benefit both economic and environmental policy. Prepared with collaboration and input from major UK companies, it’s overall aim is to influence government to recognise the benefits ambitious regulation can bring.

Two of the major issues facing businesses are undoubtedly the UK’s economic recovery and the need to meet the crucial environmental ambitions set out both by government and by individual companies.  The key message of the report is the vital role ambitious regulation can play in achieving both of these aims – helping to put the UK on track to meet its climate targets and deliver economic and social benefits in the process.  We highlight the clear economic improvements experienced by businesses thanks to environmental regulation, and call on the government to recognise its value and importance in its upcoming regulatory review.

To develop the report we reviewed the effectiveness and economic implications of past and present environmental regulations, to find the characteristics which should help guide future policy.  Crucially, we also carried out a series of interviews with business leaders and practitioners from the construction, waste and automotive sectors to gain a clear understanding of their views and experiences.  Our findings, informed by these studies and interviews, have generated backing from major players across these industries.

The report states that ambitious green regulations can:

• Play a key role in driving job creation, skills and innovation
• Improve business resilience by improving cross-supply chain collaboration and requiring cross-sector policy alignment
• Make a transition to a sustainable economy cost-competitive by providing consistency
• Maximise the benefits of business activities – particularly around implementing infrastructure to facilitate a circular economy.

It also calls for these regulations to be properly enforced, in order to hold government and local authorities to account, and to be accompanied by investment in communication and training. The report was launched on 2 March with a webinar panel event chaired by Emma Howard Boyd of the Environment Agency and presented by Smith Mordak.

Whether looking through an environmental or economic lens, regulation is a powerful weapon for businesses when it comes to meeting the key challenges facing a wide range of industries. This is not only important from an environmental perspective – but can also play an important part in supporting the UK’s economic recovery.  

Our work with The Aldersgate Group on the report reaffirms Buro Happold’s clear commitment to finding robust solutions to tackling the climate crisis and collaborating with peers, partners and policy makers to help them do the same.

Download the report

Download the report