Member Article

Finance director appointed to steer growth for eco firm

SPECIALIST biodiversity restoration firm Environment Bank has appointed a finance director to steer the company’s next phase of growth and head up its new in-house finance team. Established in 2006, the business is the first of its kind to launch biodiversity net gain (BNG) Units - a ground-breaking product that unlocks economic growth, improves nature, and gives developers a simple, risk-free way to meet newly legislated obligations. Environment Bank is establishing a nationwide network of Habitat Banks (parcels of land 10-100 hectares in size) totaling over 4,000 hectares, across England that deliver BNG Units, which developers can purchase from Environment Bank to meet their legal requirements under the Environment Act 2021. Chartered accountant Abi Underhay joins the team to oversee the rollout of Habitat Banks across the country, develop and grow the in-house finance team, supporting the financial planning and reporting for the rapidly expanding operation. The appointment is the latest of the company’s wide-scale recruitment drive to grow the current team of 40 to over 200 in the coming years following a rise in demand from landowners looking for new and sustainable income streams and developers and house builders wanting to progress planning approvals and meet new government BNG legislation.

Abi brings with her a wealth of experience from within private equity businesses, having previously held positions as financial controller at Infinis (a renewable energy generator), head of group financial reporting at Cognita Schools Group, and group financial controller at VPS Group. The move, she claims, was a natural progression to align with her desire for a more eco-friendly life. “It was definitely the right time to begin a new venture with Environment Bank,” she said.

“Taking on a new challenge in such a fast-growing business is exciting but especially when it is such an innovative company, leading the way in environmental transformation.

“Working with the entire team across the country, it is a great honour to be part of a group of like-minded people developing ways to help farming communities and allow this industry to thrive for this generation whilst also creating huge gains for the environment and unlocking further economic growth.”

Alongside two finance staff and Abi as finance director, the company is actively recruiting for an additional finance assistant.

She added; “As the business continues to grow, we will need more staff to help develop the in-house financial reporting process.

“The values and ethos of the company align with me personally, and how I live and work sustainably, so I was excited to be joining at a time of substantial growth to help shape the strategy.”

Environment Bank specialises in BNG Units, which under the Environment Act 2021 are mandatory for new developments and infrastructure projects. It works with landowners across England to identify parcels of land where a significant uplift in biodiversity can be made through creating Habitat Banks, providing an income to landowners from developers who use the simple, risk-free scheme to buy units against their development projects.

This was posted in Bdaily's Members' News section by Rachel McBryde .