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Flood and water quality issues alone cost businesses and government at least £1.2 billion a year in England. Further services, such as ensuring good soil health, carbon sequestration and biodiversity net gain, could also benefit local economies. Payment for ecosystem services is not a new concept. But as yet, all the pieces of the puzzle that would enable beneficiaries, like businesses and public bodies, to fund schemes easily have not come together. With the exception of the nascent voluntary carbon market, funding for nature-based projects is still dominated by grants from public bodies.
