The West Yorkshire Pension Fund (WYPF) is expanding its natural capital investments with a £27 million equity stake in Foresight Natural Capital. This move follows the growing trend of pension funds investing in forestry as a stable, inflation-resistant asset but extends to broader natural capital opportunities, including biodiversity projects, peatland restoration, and sustainable agriculture.

WYPF, which manages £19 billion in assets, sees natural capital as a key part of its alternatives strategy, which now makes up nearly 20% of its portfolio. Sustainable agriculture has gained attention due to its ability to support ecosystem health, enhance soil quality, and reduce carbon emissions, all of which contribute to long-term resilience and economic sustainability. However, Ward notes that transitioning to regenerative agriculture involves risks such as yield uncertainty, which can deter some investors.

In addition, WYPF’s investment in Rebalance Earth, which focuses on nature-based infrastructure solutions for climate change, highlights a new approach to climate resilience. This sector, traditionally funded by public and philanthropic sources, is now attracting institutional capital. Rebalance Earth uses innovative revenue models, such as Nature-as-a-Service (NaaS) contracts, to offer predictable cash flows while addressing sustainability challenges.

Both investments reflect WYPF’s strategy to target emerging natural capital markets and align with global sustainability goals, despite challenges in quantifying returns and impact in these evolving sectors.

City of Doncaster Council’s plan to reopen Doncaster Sheffield Airport has drawn scrutiny from auditors over financial risks tied to the £105 million investment. A report from Grant Thornton, the council’s external auditor, raised concerns about the scale of public funding allocated to the project and its financial viability.

The council has established a publicly owned company, FlyDoncaster, to manage the reopening after failing to secure a private operator. The proposed funding, drawn from South Yorkshire devolution money, includes low-interest loans amounting to an effective subsidy of nearly £90 million.

In November, Grant Thornton sent a letter to the council’s chief executive warning of increased financial exposure, which has risen from an initial estimate of £16 million to over £100 million. The auditors described this escalation as a “major concern” and cautioned against the risk of “escalation of commitment” should the project fail to meet financial expectations.

A separate report revealed that the estimated cost of lease payments on the airport site has jumped from £14.8 million to £56.6 million. The audit firm advised the council to conduct further financial assessments and establish contingency plans if risks exceed acceptable levels.

The UK government has since expressed support for the airport’s reopening, though it has not committed national funding. Meanwhile, Munich Airport International has been brought in to provide operational and management services.

South Yorkshire Mayor Oliver Coppard has delayed a final decision on the investment until the summer, citing the need for independent financial assurance. Internal reports have flagged risks to public funds, prompting further review before committing devolution money to the project.

The number of registered companies in South Yorkshire has reached a record high, rising to 75,130 from 73,897 at the end of 2023. Over the past year, 11,673 new businesses were established, with Sheffield leading the way (4,792), followed by Doncaster (3,415) and Rotherham (2,064), according to data from Companies House and the Office for National Statistics.

Nottinghamshire has also seen strong business growth, reflecting a wider trend across the East Midlands. The increase comes despite economic uncertainty linked to regulatory changes, the upcoming General Election, and external factors such as global instability.

Nationally, business formations reached a record 5,637,210, up from 5,476,772 in 2023. While 848,192 new businesses were registered across the UK, 690,501 were dissolved. The data highlights ongoing resilience among UK businesses, even in a challenging economic climate.

A huge gas field has been discovered under Lincolnshire with the ability to fuel the country for a decade, it has been reported. Reaching out to Egdon Resources, the energy firm behind the discovery in Gainsborough told Business Link that the Telegraph’s description of a “gas field” is premature “as the political and regulatory conditions for its development do not exist in the UK today.” At present there is a moratorium on hydraulic fracturing (fracking) for shale-gas, a practice with strong opposition, with fracking having been met with protests, critiqued for creating earth tremors, and clashing with the government’s environmental course, plans to reduce reliance on fossil fuels, and Net Zero aims. Commissioning Deloitte to undertake an assessment of the potential economic, social and environmental impact that developing this gas resource could have, Egdon Resources said the gas resource is capable of supplying over 16 trillion cubic feet of gas, amounting to around six to seven years of current gas consumption. Deloitte’s modelling estimates that the development would generate a GDP contribution of over £100 billion, up to 250,000 direct and indirect jobs, and offset 202 million tons of CO₂ equivalent when compared to the emissions associated with imported gas. Egdon Resources said: “The Telegraph article relates to the potential gas resources in the Gainsborough Trough geological basin which extends across parts of Lincolnshire, Nottinghamshire and South Yorkshire. “The presence of these gas resources in shales and sandstones at a depth of around 2 kilometres, was proven by the drilling of the Springs Road-1 well back in 2019 and compare favourably with some of the best producing shale basins in the USA. “At present they cannot be developed due to the moratorium on hydraulic fracturing (fracking) for shale-gas. It’s description in the article as a “gas field” is premature as the political and regulatory conditions for its development do not exist in the UK today. “Egdon commissioned Deloitte to undertake an assessment of the potential economic, social and environmental impact that developing this gas resource could have. This has highlighted a gas resource capable of supplying over 16 trillion cubic feet of gas or around 6-7 years of current gas consumption thus offsetting significant amounts of imported gas. “Deloitte’s modelling estimates that if this was developed it would generate a GDP contribution of £140 billion, £34 billion of direct taxes, up to 250,000 direct and indirect jobs and offset 202 million tons of CO₂ equivalent when compared to the emissions associated with imported gas. To put that in context that is equivalent to the annual emissions of over 40 million cars. “As accepted by the Government and shown by the Climate Change Committee’s figures, whilst its use will reduce, gas will continue to be an important part of the UK energy mix out to 2050 and beyond. The UK will become increasingly reliant on imports as North Sea production declines. “The UK government is looking for ways to grow GDP and is increasingly reliant on overseas energy imports such as LNG, much sourced from US shale. It would therefore seem sensible for politicians to consider in a pragmatic and fact based way, the potential security of supply, fiscal, environmental and employment benefits of developing the UK’s own resources such as those present in the Gainsborough Trough. “The proposed development of Carbon Capture and Storage projects at nearby Humberside further enhance the environmental credentials of this opportunity.” The Secretary of State for Energy Security and Net Zero, Ed Miliband, is among those opposed to fracking, needed to extract the gas. A Department for Energy Security and Net Zero (DESNZ) spokesperson said: “We intend to ban fracking for good and make Britain a clean energy superpower to protect current and future generations. “The biggest risk to our energy security is staying dependent on fossil fuel markets and only by sprinting to clean power by 2030 can the UK take back control of its energy and protect both family and national finances from price spikes. “Through our Plan for Change, we will reignite our industrial heartlands as we seize the opportunities of the clean energy transition, and will continue to drive investment for businesses and communities in the UK.” A moratorium on fracking in England is in place because of an inability to predict the size, timing or location of any seismic events that take place after fracking operations. The government has also highlighted that there is no guarantee that oil and gas produced in the UK will be used here, with private companies selling to an international market. The government has a commitment not to issue new oil and gas licences to explore new fields, which it is to consult on in due course.

The UK government has unveiled plans for more than 100 potential new towns, each designed to accommodate at least 10,000 homes, as part of a large-scale effort to tackle the housing crisis.

As part of the initiative, Bradford will receive £30 million to support housing expansion, making it one of the key beneficiaries of the government’s housing strategy. Additional funding includes £1.5 million for the Manchester Victoria North project and £20 million for redeveloping small council-owned sites nationwide. Other priority locations include Frome Gateway in Bristol, land south of Cayton in North Yorkshire, and Beam Park in Dagenham.

The government has pledged to deliver 1.5 million new homes before the next general election and has introduced the “new homes accelerator” programme to remove planning obstacles and speed up construction. Officials say the scheme has already unlocked 20,000 stalled homes, with further efforts underway.

The initiative follows Prime Minister Keir Starmer and Deputy Prime Minister Angela Rayner’s visit to the Nansledan development, a project influenced by King Charles’ planning vision. The visit underscored the government’s commitment to large-scale, well-planned housing developments that aim to increase homeownership and address demand.

Bradford’s funding boost is part of a broader strategy to revitalise housing projects across England, with large-scale developments and smaller urban regeneration efforts playing a role in the government’s long-term housing plan.