Chamber and committees

I refer the member to the answer to question S6W-15876 on 24 March 2023. All answers to written parliamentary questions are available on the Parliament’s website, the search facility for which can be found at https://www.parliament.scot/chamber-and-committees/written-questions-and-answers .

As the intention is to work with existing land owners, NatureScot do not anticipate that the investment will contribute to increased land values as a result of the sale or purchase of land. However, investing in natural capital may increase land values as it improves the condition of the land and subsequently increases the potential for land managers to generate revenue from the sale of ecosystem services. This is an unavoidable outcome of delivering our nature restoration targets.

Community benefits, such as those referred to, will be explored during the design phase of the project.

The Memorandum of Understanding has no fixed term and can be terminated at any time by NatureScot.

Private investment resulting from the Memorandum of Understanding will support woodland expansion, peatland restoration and enhancement of other habitats. It will pay for all capital costs, though we anticipate that land managers involved will also apply to existing grant schemes such as the Forestry Grant Scheme.

The Memorandum of Understanding (MOU) does not confer any guarantees or preferred status to the partners and allows NatureScot to work and enter agreements with other parties, both in the locations identified in the MOU and across Scotland. MOU signatories will not have exclusive access to land managers and external parties will still be able to submit applications for public funds and grants. The usual processes and policies for public grants will apply.

Rather than extracting wealth, this partnership will deliver responsible investment in both the pilot project areas and Scotland more widely.

Financial matters relating to the pilot cannot be determined until detailed investment cases for projects have been discussed and produced with land managers.

The Scottish Government has increased public investment and support in our natural capital through a variety of methods. This includes the £65 million Nature Restoration Fund, and the Facility for Investment Ready Nature in Scotland (FIRNS) that was launched in February this year. However, the Global Biodiversity Framework that was agreed at COP15 last year identified leveraging responsible private finance as a key target, and in Scotland alone it is estimated that there is a finance gap of £20 billion to meet nature-related outcomes.

For the purposes of this agreement, NatureScot entered into discussions with Hampden & Co., Lombard Odier Investment Managers and Palladium and mutually agreed that a Memorandum of Understanding would best define the ways of working and respective roles of parties, as is commonplace.

I refer the member to the answer to question S6W-15868 on 24 March 2023. All answers to written parliamentary questions are available on the Parliament’s website, the search facility for which can be found at https://www.parliament.scot/chamber-and-committees/written-questions-and-answers .

Transport Scotland is currently developing a detailed programme and procurement strategy to deliver the improvements to the Old Military Road as quickly as possible. It is expected that these works will be carried out on a phased basis starting later this year. Once this work is complete I will share with the A83 Taskforce the estimated timescale for delivering Phase 1 of the medium-term solution. I share the urgency communities and businesses place in maintaining and improving connectivity of this vital route, and remain absolutely committed to ensuring continuity of access to Argyll and Bute so that the region remains open for business.

Transport Scotland, alongside industry partners, is exploring options for lengthening passing loops on the line to enable longer and more frequent freight and passenger services.

Enabling the transfer of freight traffic, particularly from the adjacent A9 to the Highland Main Line, will produce significant carbon savings and improve safety and traffic flow on the A9.

We will fund the infrastructure enhancements necessary to produce further journey time savings on the Highland Main Line once a robust business case has been established for this expenditure.