Route Map from the Scottish Conservation THE Finance Project HOW TO FINANCE BIODIVERSITY AND HELP ACHIEVE THE SUSTAINABLE £ BILLION DEVELOPMENT GOALS £1 1CHALLENGE BILLION INTRODUCTION
As the world gets to grips from investors in financing the 2030 Ultimately, we hope to turn conservation KEY with the impacts of a Sustainable Development Goals (SDGs). finance from something that can seem baffling, complex and opaque Each stage of the journey shows: The £1 Billion Challenge was launched global pandemic, attention into something transparent, simple by the Scottish Environment Protection is rightly turning to how and transformative. Something which Sustainable Development Goals delivered: Agency (SEPA) and the Scottish Wildlife seems so obvious we don’t know why we can build back better. Trust as an ambitious initiative to we haven’t been doing it all along. Now, more than ever, pioneer, develop and showcase it is understood that to cutting-edge investment and funding models to help close this gap. address the interconnected issues of health, economic To a large extent, we were setting out on an expedition to an unknown Status of the initiative: resilience, climate change destination. At the beginning of and biodiversity loss, we the journey there was a chasm of Terry A’Hearn incomprehension and scale: Where will ACTIVE need new approaches. Chief Executive, CONCEPT DEVELOP READY the cash flows come from? What’s the SEPA STAGE TO GO This document sets out a route towards relationship between biodiversity and -MENT new green jobs, a healthier environment climate change? What’s the difference for all of us, and greater resilience for between a green loan and a green our businesses and communities. At bond? And what are the services the same time, it shows how we can provided by Scotland’s ecosystems? bridge the dramatic gap between the need for funding to protect and restore By bringing together environmentalists the world’s vulnerable ecosystems, and financial experts, along with other Jo Pike and the level of funding available. interested stakeholders, we answered Chief Executive, Much of this money, to date, has these questions and more, and Scottish Wildlife Trust come from public or philanthropic collaboratively designed a potential sources, despite the growing interest route towards the first £1 billion.
THE £1 BILLION CHALLENGE PAGE 2 We believe that, collectively, the nine stages of the journey outlined in this document offer the potential to generate £1 billion for biodiversity through a combination of investments, levies, loans, innovative payments and blended finance opportunities.
INSTITUTIONAL INVESTORS E £billions or CAL £trillions ON & S CHASM OF INCOMPREHENSI NATURE CONSERVATION £thousands or £millions
THE £1 BILLION CHALLENGE PAGE 3 CONTENTS
2 Introduction
5 A guide to planning the route
7 Essential support for the journey THE JOURNEY 8 NATURAL CAPITAL PIONEER FUND 9 NATURE-CLIMATE BOND 10 INVASIVE NON-NATIVE SPECIES LOANS 11 MARINE FUND 12 VACANT AND DERELICT LAND FUND 13 LANDSCAPE ENTERPRISE NETWORKS (LENs) 14 NATURE-BASED CARBON PAYMENTS: ‘CARBON PLUS’ 15 NET POSITIVE FOR NATURE 16 BLENDED FINANCE: RIVERWOODS
18 Next steps
19 Acknowledgements
THE £1 BILLION CHALLENGE PAGE 4 For others developing A GUIDE TO PLANNING THE ROUTE similar initiatives
Establish a Set high- Begin Build Identify Establish a core team level goals research networks roles for Leadership Ensure a partnership Agree the overarching Draw on existing contacts, Build strong networks stakeholders Group agreement is in place, aims of the project and undertake desktop of environmental Create a stakeholder Identify senior appoint a Project Manager, how these link with research and learn from practitioners, finance map setting out how representatives from establish a Steering Group existing government the latest developments experts and others organisations and public, private and third and set up a core team priorities and international in conservation finance who will provide individuals can play a role, sector organisations to between the partners. agreements such as the internationally, looking insights, advice and as experts, influencers, bring collective leadership Sustainable Development at the full range of support. Partner connectors, enablers, in an advisory capacity. Goals. Focus on environmental, social, with other initiatives investors, delivery Focus on expertise, passion demonstrating impact. economic and financial where appropriate. partners and purchasers. and an interest in seeing value created. the project succeed.
Go Engage with Navigate Identify Develop Settle on a public stakeholders obstacles potential priorities route that Choose a theme and and experts Focus on the clarity and early adopters collaboratively best suits the name which captures a Hold meetings, workshops simplicity of the overall Identify players who have Shortlist opportunities needs of the group need. Invite organisations goal when encountering and conversations an interest in breaking with the greatest potential and the nature to join a network of with a wide variety inevitable obstacles new ground and hold and workshop these pioneers, emphasising the of stakeholders and and be prepared to in-depth conversations to with stakeholders and of the terrain need for multi-disciplinary experts who will help look for different explore the opportunities experts in order to Recognise that there will be collaboration across shape an emerging routes around these. and benefits more fully. identify where there are more than one route and sectors, in order to unlock set of opportunities gaps and which activities choose the path that best the full range of benefits. and priorities. Partner might be combined meets the needs of those with others to increase for greatest impact. who plan to travel along it. the project’s reach.
THE £1 BILLION CHALLENGE PAGE 5 BASE CAMP
THE £1 BILLION CHALLENGE PAGE 6 ESSENTIAL SUPPORT FOR THE JOURNEY
In the process of mapping Policy coherence Advice and support Co-ordination of activities out a possible route to As industry participants in this project A range of support will need to be It will be important to co-ordinate the first £1 billion of new pointed out early on, there would be in place if Scotland is to reap the full action across sectors if we are to see investment in nature little sense in aiming to bring new economic, social and environmental conservation finance grow rapidly investment into nature conservation benefits that can be delivered through and achieve positive outcomes. An conservation in Scotland, if government policy were pulling conservation finance. These include essential part of this will include the it became clear that some in a different direction. The Scottish mentoring, skills building, knowledge development of common metrics to essential support for the Government has already demonstrated exchange, brokerage and incubator measure success, both from an ecological leadership in recognising that a healthy services, as well as seed funding. perspective and to meet the needs of journey will be required in natural environment is fundamental Some of these could be delivered investors and other stakeholders. the medium term – in effect, to a healthy and resilient economy. through existing programmes and an ‘enabling framework’ There are now opportunities to achieve organisations, while others are likely to alignment across key policy areas require a more bespoke approach. – to allow collective including land management subsidies, efforts to succeed. Regional Land Use Partnerships, the National Infrastructure Plan, National Planning Framework 4, the The following pages contain the nine stages of the journey. Climate Change Plan, Scotland’s Green In reality, these will not necessarily happen in this order and Investment Portfolio and the new Scottish National Investment Bank. many will progress simultaneously. See page 18 for next steps.
THE £1 BILLION CHALLENGE PAGE 7 THE JOURNEY ACTIVE CONCEPT DEVELOP READY NATURAL CAPITAL PIONEER FUND STAGE -MENT TO GO
What’s the opportunity? How will this help Who are some of SUSTAINABLE DEVELOPMENT GOALS The Natural Capital Pioneer Fund would biodiversity? the key players? use a tried and tested model to target The fund would boost innovation and This initiative is being led by Conservation enterprises looking to grow or change investment into businesses that are Capital, which has mobilised and their business activities in order to reducing, and ultimately helping to reverse, structured more than US$250 million help biodiversity. The fund would offer biodiversity loss. For example, they might of finance into enterprise-driven unsecured loans, delivering both seed be developing innovative nature tourism conservation projects across 27 and accelerator funding, to businesses models, restoring oyster reefs, building countries in Africa and Europe. not yet able to access traditional lending sustainable fisheries models to complement due to the size of their asset base. Marine Protected Areas, promoting food products based on conservation- Enterprises in which Where would the friendly agriculture or developing peat- we’ve been involved to money come from? free composts to reduce impacts on date now generate more than Impact investors would provide capital, peatlands. The fund would be managed US$50 million in commercial supplemented by grant funding in the by conservation finance specialists and early stages, to businesses meeting an overseen by an investment committee that revenues per annum and over agreed set of criteria. Profits from these ensures all investments follow criteria set up US$15 million in direct cash businesses would then enable investors to deliver positive benefits to biodiversity. flow support to conservation. to be repaid with interest. The Pioneer What are the other benefits? Fund would be an ‘Evergreen Fund’, In time, a nature-based meaning that investors can come and go By catalysing growth and attracting economy in Scotland could and that the fund lasts indefinitely. impact investors, the fund would help generate even greater impact.” build and strengthen the pipeline of environmental enterprises in Scotland. Neil Birnie This is a key opportunity to implement Chief Executive, Scotland’s existing commitment to Conservation Capital
delivering the Sustainable Development
Goals and, by extension, the National Performance Framework. THE £1 BILLION CHALLENGE PAGE 8 THE JOURNEY ACTIVE CONCEPT DEVELOP READY NATURE-CLIMATE BOND STAGE -MENT TO GO
What’s the opportunity? How will this help Who are some of SUSTAINABLE DEVELOPMENT GOALS A Nature-Climate Bond would be the first biodiversity? the key players? of its kind, offering a holistic approach The bonds could fund nature-based Abundance Investment, a crowdfunding to funding action on climate change and solutions, such as the creation and investment platform that has been at the biodiversity loss with engagement from enhancement of biodiverse green spaces forefront of financial innovation since local residents. The model allows cross- and sustainable urban drainage systems. 2012, is working with City of Edinburgh subsidy of ‘hard-to-value’ interventions This would provide vital habitat and Council to develop this model. by more mainstream green initiatives. connectivity benefits for species, as well as mitigation, adaptation and resilience Where does the to climate change. Further indirect By bringing together money come from? benefits to biodiversity would also be the traditional green Local Authorities would issue the bonds delivered through wider climate action, bond model with a chance including green energy generation and direct to the public via a crowdfunding for citizens and residents to platform. The initial capital investment local food growing opportunities. would come from a broad range invest in their future, we can of interested investors who could What are the other benefits? help achieve transformative invest from as little as £5. The return With resources already stretched and change. The Nature-Climate to investors would come from a many ‘easy wins’ in a climate context combination of long-term savings made Bond would be a first of its already delivered, the challenge to reach by some of the interventions and income Net Zero is one of the biggest facing kind, tackling climate change generated by others. Due to the low-cost Local Authorities. This model provides a and biodiversity loss together.” nature of crowdfunding, this type of bond cost-effective opportunity to tackle the can be issued via a low-risk, easy-to-use climate emergency hand in hand with Louise Wilson online process with attractive borrowing the biodiversity crisis, creating lasting Joint Managing Director, rates and terms. benefits for local communities. Abundance Investment
THE £1 BILLION CHALLENGE PAGE 9 THE JOURNEY ACTIVE CONCEPT DEVELOP READY INVASIVE NON-NATIVE SPECIES LOANS STAGE -MENT TO GO
What’s the opportunity? How will this help Who are some of SUSTAINABLE DEVELOPMENT GOALS Invasive non-native species (INNS) are biodiversity? the key players? estimated to cost the Scottish economy As a problem, INNS are recognised as one Scottish Natural Heritage, SEPA, Scottish in excess of £200 million each year, as of the five principal drivers of biodiversity Wildlife Trust, RSPB, British Ecological well as being a major contributor to loss globally. Removing the problem at Society and British Marine have all helped biodiversity loss. There is an urgent need source would therefore relieve one of the scope out this potential opportunity, in to move from constant management main pressures on biodiversity in both discussion with Lloyds Bank and with towards prevention, which makes sense terrestrial and aquatic environments. As input from our Expert Finance Group. both economically and ecologically. To the benefits of prevention become fully date, it has been hard to finance the recognised, biosecurity approaches are Invasive non-native necessary interventions at scale, but we likely to become increasingly important. have identified a potential opportunity species have a huge for mainstream commercial bank What are the other benefits? impact on our nature and its loans to enable this transformative shift. This would be a new, innovative Avoiding the impacts of INNS on health. It would be fantastic loan that has not, to our knowledge, water supply and power regeneration if, by investing in preventative been launched anywhere else. would increase the resilience of our infrastructure. Strategic control measures, businesses could help Where does the of invasive plants would protect to guard Scotland’s nature from money come from? communities from the cost of managing this growing threat as well as Japanese knotweed and the human Loans would be made available to health impacts of giant hogweed. protecting their own property.” organisations looking to put in place Improving biosecurity measures would Francesca Osowska biosecurity measures to prevent the also prevent new introductions of pests Chief Executive, arrival or spread of INNS, and to help and diseases that could cause substantial Scottish Natural Heritage eradicate INNS in Scotland. These could losses to our natural environments, potentially be paid back from future crops, forests and horticultural trade. savings on the costs of management.
THE £1 BILLION CHALLENGE PAGE 10 THE JOURNEY ACTIVE CONCEPT DEVELOP READY MARINE FUND STAGE -MENT TO GO
What’s the opportunity? What are the other benefits? Who are some of SUSTAINABLE DEVELOPMENT GOALS A Marine Fund, financed by contributions In addition to helping Scotland meet its the key players? from industries that rely on the marine commitment to reaching Net Zero by RSPB Scotland and the Scottish Wildlife environment, would provide much- 2045 and realising a healthy and resilient Trust are calling for the creation of a Marine needed support for projects focused natural marine environment, a Marine Fund, which also has strong endorsement on improving marine health. Fund could provide important economic from Scottish Environment LINK. Marine opportunities for coastal communities Scotland, Scottish Natural Heritage and Where does the through procurement of services and Crown Estate Scotland are supportive of money come from? direct employment. Increasing the the concept and have begun discussions resilience of the marine environment Revenue could come from a number with representatives in some industries would also bring important benefits for over how such a fund could function. of industry sources and could be in the the industries which rely on it for their form of contributions or voluntary levies. future success, for example by improving Creating a Marine habitats for seabirds, commercial How will this help fish and shellfish populations. The Fund offers the biodiversity? establishment of a Marine Fund would opportunity to enable direct be a commitment to improving the A Marine Fund would support investment in improving health of this vital natural asset and a conservation and restoration activities, signal that this is a shared responsibility environmental resilience and which could include restoration of of all marine industries and users. habitats such as seagrass meadows, promoting recovery, working work to help the recovery of species such together with those commercial as puffins, development of innovative sectors who use, rely upon management approaches and applied research, as well as blue carbon habitat and benefit from our natural management and enhancement. marine environment.”
Anne McCall Director, RSPB Scotland
THE £1 BILLION CHALLENGE PAGE 11 THE JOURNEY ACTIVE CONCEPT DEVELOP READY VACANT AND DERELICT LAND FUND STAGE -MENT TO GO
What’s the opportunity? of restored sites for pre-approved Government climate commitments. SUSTAINABLE DEVELOPMENT GOALS biodiversity-related business purposes. Natural infrastructure within sites will Scotland’s Vacant and Derelict Land Vertical farming is one such innovative reduce local climate change impacts. Taskforce is working to bring vacant opportunity and involves growing food and derelict land back into productive and other produce indoors with a greatly Who are some of use. Contributing to the work of the reduced environmental footprint. the key players? Taskforce through a ‘Spotlight Project’ within The £1 Billion Challenge, we have How will this help The Scottish Land Commission, identified 168 publicly owned sites that biodiversity? Central Scotland Green Network have been vacant and derelict for at Trust, James Hutton Institute and least 20 years and which, as a proof of Restored sites could accommodate SEPA have collaborated to identify concept, could be transformed to deliver environmental enterprises designed this opportunity with input from environmental and financial benefits. to help biodiversity, for example by The £1 Billion Challenge Expert reducing pressures associated with Finance Group. Where does the intensive agriculture. In some locations, money come from? restored sites could also improve Attracting investment connectivity for biodiversity by filling in derelict sites in Investors would put money into the key gaps in habitat networks. restoration of degraded sites in order some of Scotland’s most to transform them into profitable What are the other benefits? disadvantaged communities business opportunities that deliver biodiversity benefits. Suitable sites could Most of the identified sites are close to will unlock opportunities to potentially be sold directly to investors communities which are experiencing strengthen a fair and green for pre-approved green businesses. significant levels of social, economic and economy, delivering for nature Alternatively, a commercial Vacant and environmental disadvantage. Restoration Derelict Land Fund could be created, of these sites will provide access to and people in places where which would allow site owners to green space (with its attendant wellbeing it can have big impacts.” attract investment in the remediation benefits), employment opportunities Hamish Trench of identified sites. The financial return and improved quality of place. Low Chief Executive, would come from the sale or leasing carbon uses will contribute to Scottish Scottish Land Commission
THE £1 BILLION CHALLENGE PAGE 12 THE JOURNEY ACTIVE CONCEPT DEVELOP READY LANDSCAPE ENTERPRISE NETWORKS STAGE -MENT TO GO
What’s the opportunity? How will this help and international conservation SUSTAINABLE DEVELOPMENT GOALS NGOs. In Scotland, SEPA, Scottish To help achieve the pace and scale of biodiversity? Natural Heritage and the Scottish action needed to address climate change LENs helps businesses re-invest in Wildlife Trust are working with LENs and biodiversity loss, the LENs initiative the natural assets on which they to optimise impact for businesses, draws different organisations and sectors depend. Biodiversity benefits directly, communities and the environment. together to deliver effective investment though increased investment in in our landscapes and the benefits natural habitats, and improved they can bring. It’s a model based on connectivity across landscapes. Businesses, collaboration and collective action, which communities and enables a range of organisations to What are the other benefits? ‘own’ the process in their own region. individuals are critically reliant LENs focuses on developing on healthy, multi-functional Where does the multifunctional landscapes matched to landscapes. LENs helps money come from? the needs of the regional economy and society. This delivers benefits ranging organisations understand By helping businesses understand from climate change mitigation and their dependencies on nature and the flood risk reduction, to water quality their specific dependencies risk that, without investment, natural improvements, health benefits and and enable shared interest assets will be unable to support their placemaking. By creating a resilient and investment back into these businesses in the future, LENs provides healthy environment in which businesses a compelling business case for investing can thrive, investment in nature becomes landscapes, to deliver in the landscape. LENs provides a an investment in prosperity and jobs. efficient impact, at scale platform to aggregate ‘payments for ecosystem services’, and can also blend Who are some of Andy Griffiths these investments with public funding to the key players? Head of Value Chain Sustainability, enable delivery of further ‘public goods’. Nestlé UK Ltd It is designed to be an efficient model LENs was founded by Nestlé and for enabling investment and action, 3Keel. Partners come from a range of and provides a platform for financial sectors including water utilities, linear institutions to invest in the future. infrastructure, housing, insurance, retail and farming, as well as national THE £1 BILLION CHALLENGE PAGE 13 THE JOURNEY ACTIVE CONCEPT DEVELOP READY NATURE-BASED CARBON PAYMENTS: ‘CARBON PLUS’ STAGE -MENT TO GO
What’s the opportunity? How will this help Who are some of SUSTAINABLE DEVELOPMENT GOALS To achieve Net Zero by 2045 we need biodiversity? the key players? a dramatic reduction in fossil fuel By restoring peatlands, expanding This is an area being explored by a emissions plus investment in natural native woodland, improving the marine number of players within the public systems. Scotland is well positioned environment and greening our cities, sector, environmental organisations to champion nature-based solutions we can lock up enormous quantities of and the business community in within carbon markets, tackling the twin carbon whilst also providing vital habitat Scotland. This is an opportunity to set emergencies of climate change and for biodiversity. Nature-based carbon the bar high and provide a premium biodiversity loss simultaneously. As a payments will need to sit alongside a product delivering multiple benefits. nation we could provide a framework strong commitment to reducing fossil that offers clarity, confidence and fuel emissions and to achieving Net Zero, certainty of outcomes to businesses along with an adherence to a strict set Our climate change and and others looking to contribute of principles, including best ecosystem biodiversity emergency financially towards climate mitigation. management, transparency, additionality, demands an urgent response. clear metrics, permanence, proper Where does the monitoring and no double-counting. Repairing the UK’s damaged money come from? peatlands offers a nature- What are the other benefits? Organisations and individuals committed based solution but needs joint to reducing their emissions overall This approach could reduce costs to investment from the public and wanting to go further by offsetting business and society, and boost tourism. any unavoidable emissions would Investing in our natural environment also and private sectors to meet be able to purchase nature-based brings health and wellbeing benefits, the scale of the challenge.” carbon credits and other bundled and targeted intervention can help tackle benefits, using recognised carbon inequality by improving access to quality Clifton Bain market standards such as the Peatland green spaces in urban communities. Director, Code and Woodland Carbon Code. IUCN UK Peatland Programme
THE £1 BILLION CHALLENGE PAGE 14 THE JOURNEY ACTIVE CONCEPT DEVELOP READY NET POSITIVE FOR NATURE STAGE -MENT TO GO
What’s the opportunity? How will this help Who are some of SUSTAINABLE DEVELOPMENT GOALS Pressure on Scotland’s environment biodiversity? the key players? from development is increasing, Net Positive for Nature is an approach Individual companies have been looking but if we are to achieve climate and that requires developers to invest back at this, but it could be taken up at a biodiversity objectives, this cannot be at into nature (according to a strict mitigation Scotland-wide scale through the Scottish the expense of nature. A well designed hierarchy) so that any damage to National Planning Framework. Input Net Positive for Nature framework could biodiversity is outweighed by even greater from across the public, private and third offer the potential to benefit nature benefits to biodiversity, as assessed by sectors will be essential to its success. through compensatory investment appropriate experts. Compensatory from developers, whilst only enabling measures can be used to create habitat appropriate developments to go ahead. in the most ‘useful’ places for nature, The planning system improving connectivity and overall is a powerful tool Where does the ecosystem health. There are areas where money come from? development is not appropriate at all, and developing more ways to ensure it works as hard as The money would come directly from but where developments are suitably developers (or indirectly from landowners sited, Net Positive can be a win-win which possible to support biodiversity selling land for development), but to prevents the erosion of our natural assets. and conservation outcomes ensure success for both biodiversity What are the other benefits? is hugely important.” and local communities, a strategic framework needs to be created with Current environmental compensatory James Stuart input from relevant stakeholders. schemes are ad hoc; innovation in this Convener, area could be transformative. As part of Loch Lomond & The Trossachs National Park a strategic approach to planning natural infrastructure within our communities, nature-based solutions relating to health and wellbeing, carbon storage, water management and flood prevention can be delivered. Creating more desirable places to live and work also brings economic benefits for leisure and tourism. THE £1 BILLION CHALLENGE PAGE 15 THE JOURNEY BLENDED FINANCE: RIVERWOODS
What’s the opportunity? back over time using a combination of contractual payments and levies from Within a government regulatory beneficiaries, blended with government environment that seeks to avoid damage and/or philanthropic support. to natural systems, blended finance can be used to fund landscape-scale How will this help initiatives that deliver positive outcomes for biodiversity alongside other benefits biodiversity? with a financial or economic return. Ecological restoration is needed at Riverwoods is a ‘Spotlight Project’ within scale in order to reverse the serious The £1 Billion Challenge that is being used declines in biodiversity that have been to help develop this model in Scotland. seen in Scotland and elsewhere. To date, it has been difficult to identify Where does the sources of funding that go beyond money come from? traditional government spending and philanthropic support. This has Blended finance projects traditionally limited the speed and scale at which combine private investment with support ecological restoration can take place, from government, grantmakers or despite the urgency of the problem. philanthropists. The main opportunities in development for Riverwoods include Riverwoods is an ambitious initiative, voluntary payments for nature-based launched in early 2019, to create carbon credits, a Riverwoods Land a network of riverbank woodlands Fund using Conservation Covenants, supporting healthy and resilient river and the development of a Riverwoods systems across the whole of Scotland. Bond. The latter would allow investors The project brings together a wide range to provide upfront capital that is paid of partners to identify where riparian
THE £1 BILLION CHALLENGE PAGE 16 ACTIVE CONCEPT DEVELOP READY STAGE -MENT TO GO woodland can be better managed and In the fight against climate change, Scotch Whisky’s SUSTAINABLE DEVELOPMENT GOALS lost woodland corridors recreated. riparian woodland not only helps lock heritage, production up carbon in trees and soil but also Riparian woodland is particularly provides improved flood resilience and global popularity are important to biodiversity because of for local communities, reductions the complex interactions between rooted in the natural landscape in water treatment costs and water species where land meets water. Trees of Scotland. The Scottish cooling effects that help salmon help stabilise river banks and prevent fisheries and the whisky industry. Wildlife Trust’s action to kick- erosion, which in turn helps improve start nature-based initiatives water quality. Trees also provide shade, Who are some of which helps regulate water temperature, that will improve biodiversity while falling leaves and insects provide the key players? is an excellent example an important food source for fish and Riverwoods is a partnership project led of what is possible when other aquatic animals. Healthier fish by the Scottish Wildlife Trust, whose stakeholders collaborate.” populations in turn support other Steering Group includes Scottish Natural wildlife such as goosander ducks and Heritage, SEPA, Tweed Forum, Confor, Morag Garden ospreys. In addition, greater connectivity James Hutton Institute, University of Head of Sustainability and Innovation, enlarges habitat, allowing species to Edinburgh’s Centre for Sustainable Scotch Whisky Association move more freely through the landscape Forests and Landscapes, Woodland to find food or shelter, and increasing Trust Scotland, Scottish Forestry and resilience to external pressures. Scottish Water. Other stakeholder organisations involved in helping to What are the other benefits? shape the project and the associated As well as providing benefits for blended finance opportunities include biodiversity, riparian woodland National Farmers’ Union Scotland, Forest provides a host of benefits to people. Carbon and Abundance Investment.
THE £1 BILLION CHALLENGE PAGE 17 NEXT STEPS
Our Route Map has been In order to implement this Route Map, and enable Scotland to A resilient and healthy natural environment is critical to our future. created collaboratively and become a leader in this field, we recommend five next steps: The opportunities within this Route is more important than ever Map can help deliver new jobs, improve as the world looks to deliver 1. Establish a Scottish Conservation 4. Embed a new Green health outcomes and increase the resilience of our economy, all while to help accelerate in all future a Green Recovery. Finance Fund Coherence Principle generating the vital new investment and private investment, facilitate innovation, government policies and policy reviews, support that is needed for biodiversity. Elements of it will be truly promote good governance, support the in order to reduce the hidden costs of groundbreaking if the path development of common metrics and damage to biodiversity, improve climate scale up knowledge exchange. resilience and optimise the benefits set out is taken. In the next of public spending as part of a Green phase, multiple players 2. Prioritise landscape-scale Recovery. £1 (many of whom are listed in opportunities that can drive impact BILLION this document) will take the and test investment concepts at scale, 5. Publish a regular Green lead and new governance supporting the rural economy sustainably Recovery Progress Update and for the long term. with specific updates on conservation structures are likely to emerge. finance outcomes, mapped against 3. Launch a world-leading Skills for Scotland’s National Performance a Green Recovery programme, Framework in support of the enabling providers of business support Sustainable Development Goals. services to assist clients in identifying opportunities to invest in positive action for biodiversity and climate change, while also benefiting the bottom line.
THE £1 BILLION CHALLENGE PAGE 18 WITH THANKS TO...
Many people in Scotland Leadership Group Expert Finance Group Thanks also to (and beyond) contributed • Alisdair Wiseman, Innovation Zone (Innovative Finance Sub-Group of the • Scottish Forum on Natural Capital to this project through (Facilitator) Scottish Forum on Natural Capital) • Coalition for Private Investment in meetings, workshops, phone • Terry A’Hearn, Chief Executive, SEPA • Richard Mattison, Chief Executive, Conservation (CPIC) calls and correspondence. • Jo Pike. Chief Executive, Scottish Trucost • Paul Walton, RSPB Scotland Wildlife Trust • Neil Birnie, Chief Executive, • Maggie Keegan, British Ecological Each gave their time for free • Francesca Osowska, Chief Executive, Conservation Capital Society in order to help advance Scottish Natural Heritage • David Walker, Senior Advisor, • James Scott-Anderson, British Marine common goals. Beyond the • Neil Birnie, Chief Executive, Asper Investment Management • Jonny Hughes, IUCN Council, and Conservation Capital core project team within • John Rowan, Group Treasurer, Scottish Wildlife Trust Ambassador • Stuart Goodall, Chief Executive, Provident Financial Plc SEPA and the Scottish Wildlife Confor • Julie Wilson, Scottish Government To find out more about any of the Trust, and those quoted • James Stuart, Convener, Loch Lomond Chief Economist Directorate initiatives outlined in this document, elsewhere in this document, & The Trossachs National Park • Nick Lyth, Co-Founder and Chief please contact Rory McLeod, Project Officer, Scottish Forum on Natural Capital we would particularly like to • John Rowan, Group Treasurer, Executive, Green Angel Syndicate Provident Financial Plc at [email protected] acknowledge the contribution • David Wood, Senior Policy Director, • Charlotte Wright, Chief Executive, ICAS of the organisations and Highlands and Islands Enterprise • Alan Hampson, Head of Business individuals listed here in • Deryck Irving, Acting Chief Executive, Services and Transformation, helping to shape this Route Map. Central Scotland Green Network Trust Scottish Natural Heritage • Simon Hodgson, Chief Executive, • Edward Whitten, Impact Analyst – Forestry and Land Scotland Positive Change Fund, Baillie Gifford • Mark Williams, Environmental Regulation and Climate Change Manager, Scottish Water • Andy Kerr Director, UK & Ireland, EIT Climate-KIC THE £1 BILLION CHALLENGE PAGE 19 The following organisations signed up to the network of Scottish Conservation Finance Pioneers and helped shape the conversation through a series of events and workshops.
Borders Forest Highlands and Royal Zoological Southern Uplands Trust Islands Enterprise Society of Scotland Partnership Central Scotland IEMA RSPB Scotland Sustainable Green Network Jacobs UK Ltd Scotland Network Trust Scottish Borders John Muir Trust Council The Heather Trust Confor Loch Lomond & Scottish Natural Tweed Forum Conservation The Trossachs Heritage Woodland Trust Capital National Park Scottish Water Scotland City of Edinburgh Marine Council Scottish Wildlife Zero Waste Conservation Scotland Ferry Hydro Scoiety Trust Forest Carbon Ltd National Trust SEPA Forestry and for Scotland Shetland Amenity Land Scotland Ridrum Group Trust
The Scottish Conservation Finance Project was led by:
The Scottish Environment Protection Agency (SEPA) is Scotland’s principal environmental regulator. It is a non-departmental public body of the Scottish Government. The Scottish Wildlife Trust is a Scottish registered charity (SC005792) and a company limited by guarantee, registered in Scotland (SC040247). Its registered office is Harbourside House, 110 Commercial Street, Edinburgh EH6 6NF. Published May 2020