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Seòmar agus comataidhean

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 5 May 2021
  6. Current session: 12 May 2021 to 12 July 2025
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Displaying 1920 contributions

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Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

I am eager to oblige, convener. I have a brief question for Olly Hughes. What percentage of tree planting that is carried out by the Gresham House fund in Scotland is native species?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

On community wealth building and the just transition, I am interested to hear from each of our witnesses about the extent to which the market is delivering multiple benefits in terms of communities, nature restoration and making Scotland more resilient to climate change.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

Mr Hughes, in response to Mark Ruskell’s questions, you talked about the Gresham House fund making “good strides”. You also mentioned job creation. How many jobs have been created in rural Scotland as a result of Gresham House funds’ forestry activities in Scotland?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

Thank you. The committee would welcome more information on that.

I will go back to my earlier question about native tree planting. I think that the figure that you gave for native broadleaf was 20 per cent. I have dug out some correspondence that the bank gave to the committee previously. It expected that 46 per cent of the planting would be native broadleaf, which would exclude the open-ground figure of 20 per cent that you gave. Are you on track to meet that expectation? I am not sure whether that is a target or an expectation, but is that going as well as it should be going?

10:00  

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

Okay. Thank you, Mr Hughes. I would certainly welcome further correspondence to clarify some of the figures. I do not know whether it is just me, convener, but I did not fully follow all of that.

I have a couple more brief questions for the rest of the panel. I want to turn back to carbon credits and to get an understanding of how carbon buyers use them. Are carbon credits being used as part of corporate offsetting strategies or are they being traded or retained as commodities? What standards are being applied to ensure that offsets are being used responsibly—for example, to offset genuinely unavoidable emissions?

I am not sure who would like to go first on that.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

You mentioned maintaining jobs and job creation. Can you expand on that and give the committee a bit more insight?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

Thank you for that answer, Mr. Hughes. It is important that a parliamentary committee takes reliable information. It sounds as though you are not sure that the number is 200. It could be more or less than that.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

Good morning, panel. Are current natural capital finance models, in which the financing metric is generally based on carbon, delivering integrated environmental benefits such as biodiversity or natural management of flood risks? How could that be improved?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

I see Naomi Beingessner taking notes, and Lydia Cole has her hand up, so I will come to both of them

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Monica Lennon

That is all very helpful. More generally, I am keen to understand how a just transition for rural communities can be ensured. You have talked about more traditional farming. I am thinking about gamekeeping industries—land use change could fundamentally change that profession. How do we get a just transition for rural communities?

This is, again, perhaps not a question for all of you. Perhaps Dr Doble could come in and then perhaps Dr Beingessner. Should a proportion of green land investment profits be shared with communities in the same way as we see community benefit payments arising from wind farm developments? I know that that is not a perfect system—people have their views on that—but can I get your take on that?

I am looking at Naomi, in case she wants to come in.