Question reference: S6W-27195
- Asked by: Rhoda Grant, MSP for Highlands and Islands, Scottish Labour
- Date lodged: 2 May 2024
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Current status: Answered by Jim Fairlie on 15 May 2024
Question
To ask the Scottish Government, in relation to the Market Framework for Natural Capital – Engagement Framework, as referenced on page 4, what amount of investment in natural capital markets is required to reach a level "sufficient to meet Scotland's climate and nature restoration goals" and that would provide for the estimated job creation potential, including the estimated investment needed to achieve peatland restoration in Scotland.
Answer
Page 4 of the Market Framework for Natural Capital - Engagement paper references estimates from the November 2023 Scottish Government research publication 'Assessing the cumulative and cross-sector economic benefits of investment in natural capital in Scotland'. It estimates that £12.5 billion of further investment in natural capital is required in order to meet policy goals, and that this further investment would create 146,000 direct and 197,000 direct and indirect jobs.
However, there is an error at Page 4 of the Market Framework for Natural Capital - Engagement paper in that it references these estimates in relation to 'natural capital markets ' rather than to 'natural capital ' as stated in the research report which does not distinguish between the role of public and private investment in providing the additional £12.5 billion of further investment. This error will be corrected by deleting 'markets' from the sentence on page 4 of the Engagement paper on the Scottish Government website.