Chamber and committees

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 Memorandum of Understanding (MOU) is legally binding between the parties (NatureScot, Hampden & Co., Lombard Odier Investment Managers and Palladium). Scottish Government Ministers are not party to the MOU, but are aware of the work NatureScot are undertaking as part of the agreement.

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 .

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 .

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

The partnership will seek to deliver direct community benefit as a result of the investment, in line with the expectations of the Scottish Government’s Interim Principles for Responsible Investment in Natural Capital. This will include full consideration of community wealth building opportunities and exploring potential ways the investment could support more diverse land ownership, drawing on current and emerging advice from the Scottish Land Commission. No assessment has been completed at this stage as the project partners are in ongoing dialogue about how the investment model will work. However, assessments will be published after completion of the project design phase.

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.

I refer the member to the answer to question S6W-15873 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 .

This project will work with existing land owners and managers to restore native woodlands and other habitats, rather than acquiring land or changing land ownership. Although the Memorandum of Understanding does not rule out the purchase of land, the only scenario in which the partnership would consider this is where there is an opportunity for a community to buy land and help deliver the project aims.

This is a partnership project and not a procurement project. It is not exclusive to the partners involved and NatureScot would be delighted to work with other responsible private investors looking to invest in nature restoration in Scotland.