A new plan to attract responsible private investment into natural
capital markets has been launched for Scotland.
Minister for Employment and Investment launched Scotland's Natural
Capital Market Framework as he spoke at the Nature Finance UK
2024 conference.
The framework provides guidance for investors, land managers and
communities on attracting responsible private investment into
peatlands, woodlands and nature restoration. Its focus is on
maintaining the high standards that have been set by the Woodland
Carbon Code and Peatland Code.
It supports Scotland's ‘National Strategy for Economic
Transformation' and will contribute to two of the Government's
key priorities: driving sustainable economic growth and tackling
the climate and nature crises.
Research published this week also shows that Scotland's natural
assets contribute more than £40 billion to the economy and
support around 260,000 jobs.
Mr Arthur said:
“This framework outlines the steps we will take to attract
greater responsible private investment into high-integrity
natural capital projects. Scotland's breathtaking landscapes,
rich biodiversity, and abundant natural resources are much more
than a source of pride – they are the foundation of our future
prosperity with investment being key to economic growth.
“Our peatlands, forests, rivers, and coastlines are valued at
£230 billion, providing essential services like clean air, fresh
water, carbon sequestration, and resilience to the impact of
climate change. We have committed to restoring 250,000
hectares of degraded peatlands, halting biodiversity loss and
establishing tens of thousands of hectares of new woodland in the
next five years, generating good, green jobs and skills training
– mostly in rural communities.
“We take this responsibility seriously - but it is abundantly
clear, that to meet our targets for cutting emissions, we need
private investors to share the load. This framework gives us a
guide to attracting responsible investment partners to join our
work in restoring and enhancing our natural assets and the
opportunities for our communities and our economy.”
Jo Pike, Chief Executive, Scottish Wildlife Trust, said:
“A healthy natural environment is our most precious asset. In the
face of the nature and climate emergency it's vital to focus on
the future we want to create – for nature and communities.
“It is heartening to see a positive direction of travel, along
with some of the first steps on the journey, set out in the new
Framework. Over time, this will no doubt evolve, as an
ever-growing number of people realise that we all have a stake in
its success.”
Emma Cooper Head of Land Rights & Responsibilities, Scottish
Land Commission, said:
"The Scottish Land Commission welcomes the publication of the
Natural Capital Market Framework which provides clarity on
Government expectations for high-integrity, values-led private
investment in Scotland's natural capital. This framework not only
sets out the actions stakeholders can take to ensure responsible
investment but also emphasises the importance of community
benefits as essential to a fair and functional nature market.
“Scotland is setting a new standard in the UK by clearly defining
the role of community benefits in natural capital investments.”
Background
Natural Capital Market
Framework - gov.scot (www.gov.scot)
