Aspects of Land | Spring/Summer 2018

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34 Aspects of Land Spring / Summer 2018
Sophie Tidy, who leads Savills
Natural Capital Group,
describes the scope of its work
Can you define the role of
Savills Natural Capital Group?
The Government’s definition of natural
capital is “those elements of the natural
environment which provide valuable
goods and services to people, such as the
stock of forests, water, land, minerals and
oceans”. So, our group is looking at all
aspects of natural capital – including the
wider social focus and the commercial
impacts – to fully understand how the
natural capital-based approach will affect
our clients and create opportunities.
Is natural capital a new area for Savills?
No, our focus on natural capital goes back
a long way, although the terminology has
changed. The expertise within Savills
stretches far beyond our small group. The
team I’m now leading comprises a core
group of eight, plus wider technical and
research input, particularly from the Rural,
Energy and Projects Division. The launch
of the Government’s 25 Year Environment
Plan is a really positive development
as there’s now a vision that stretches
beyond the current political horizon. For
us, successful land management is about
long-term investment. A number of Savills
colleagues are already helping clients to
produce their own 25-year environment
plans, because our clients want to speak
the same language as the Government.
The challenge for my group is to help
develop a common approach to natural
capital in the industry and across Savills.
“By helping to encourage greater
use of our natural capital, everyone
benefits – including our clients”
Peat bogs are valuable natural capital
How tricky is it to put
a value on natural capital?
There’s been a lot of debate about how
you value and monetise natural capital,
but now we need to start thinking
practically. In the future, it’s going to
affect our valuations and how we market
our estates and properties. For example,
where previously an area of community
woodland may only have been of value to
a private owner, in the future, there could
be a way of generating income from that.
It’s our job to help our clients look at the
natural capital potential of their land in a
more holistic way.
Can you describe some typical projects?
We’ve been looking at biodiversity
offsetting on behalf of developers
where there is a planning requirement
to find alternative land to replace lost
biodiversity. My colleagues have been
identifying appropriate landowners and
developing the contracts. Another project
involved water companies who want to
reduce the use of metaldehyde slug pellets
by farmers, which in turn will reduce
water-processing costs. And one of my
colleagues was at Westminster recently,
speaking to Michael Gove about how to
approach the management of peat bogs.
So, we’re feeding into environmental
policy, not just responding to it.
Does natural capital touch
the general public too?
There is significant leisure and tourism on
many of the estates we manage. Getting
people out into the countryside is crucial
to their mental and physical health so
by helping to encourage greater use of
our natural capital, everyone benefits,
including our clients.
What do you enjoy about your role?
I studied geography and I now specialise in
rural estate management so natural capital
brings all of that together. I’m personally
motivated to protect the environment, and
I want to make sure it’s left in a healthy
state with thriving ecosystems, biodiversity
and communities. In the UK, we do have
problems with soil degradation, water
quality and loss of woodland. But we
can’t be anti-growth. Instead, we need to
be creative about enabling appropriate
houses to be built in sustainable locations
and allowing industry to thrive. Many of
our clients are committed to sustainability
and environmental improvement, and that
helps to motivate me and my colleagues
every single day.
n To discuss natural capital, contact Sophie Tidy,
Oxford, 01865 269 162,
FINAL
SAY
KEITH MORRIS / ALAMY