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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 10 July 2025
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Displaying 1377 contributions

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Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

Good morning, panel, and thank you for your time. I have two questions. I want to set aside forestry and tree planting, as I know that there has been some discussion on that—for example, the Royal Society of Edinburgh recently published a report on public financial support for tree planting and forestry. However, I am interested in other areas of natural capital financing. Are there any aspects of Government support, be that legislative measures, tax relief or interventions by enterprise agencies, through which we could do more to attract the patient capital that is looking for places to grow and add to the common good of improving biodiversity and tackling climate change?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

Joel Paterson, do you want to add anything?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

Thank you. Josh Doble, you talked about the need for considerations about natural capital finance to be public sector led, but I appreciate the words of caution that you emphasised. Do you want to put anything else to our committee about the need for the approach to be public-sector led but not public-sector subsidised? I think that that is important.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

Is the engagement with NatureScot being done in a collaborative way?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

That is interesting. If local authorities worked collaboratively with private landlords, there might be some scope and opportunity for that.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

I should say that the question is about not just Scottish Government support but UK Government and local government support. Is there anything that you have not mentioned in previous answers that you want to highlight?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

In what sense?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

That, of course, will require the UK and Scottish Governments to work together.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

And some of the issues that you raise are reserved.

Are we at a point where, if clarity around frameworks, consideration of the models and appropriate public investment to de-risk were all lined up, we would have a potential comparative advantage, given the strength of the financial sector in the UK and Scotland, or are we playing catch-up?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Ben Macpherson

That was all very interesting and helpful. If, following the meeting, you have further thoughts about local government—for example, the planning system—it would be interesting to hear them.

Understandably, we have focused, in the main, on the potential for natural capital finance to be invested and utilised in rural Scotland. However, there are also areas of private land in urban Scotland where the natural environment could be improved. Is any thinking being done about how such investment could be undertaken and what the opportunities are in that regard? That would make a real difference not just for the environment, but for the quality of life of the majority of our people, who live in urban settings.