Question reference: S6W-23286
- Asked by: Maurice Golden, MSP for North East Scotland, Scottish Conservative and Unionist Party
- Date lodged: 28 November 2023
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Current status: Answered by Mairi McAllan on 11 December 2023
Question
To ask the Scottish Government whether any barriers have been identified to unlocking private investment in climate change adaptation measures, and, if so, whether it will provide further details of these.
Answer
In its November 2023 independent assessment of progress on climate adaptation, the Climate Change Committee (CCC) outlined the need for private investment, alongside public funding, to support adaptation action. Barriers limiting private investment to date have been identified by the CCC in its report from February 2023, titled Investment for a well-adapted UK , and include:
- challenges creating investable or bankable cashflows from action associated with reducing climate risks; and
- limited ability to aggregate smaller adaptation projects into larger and more attractive investment packages.
The next Scottish Government Adaptation Plan, due for public consultation in early-2024, will explore opportunities to address barriers to unlocking greater private investment.