New principles to develop a socially fairer, high-integrity market.
Future private investment in Scotland’s natural capital – such as peatlands and woodlands - will be subject to a set of principles to help ensure it delivers social, environmental and economic benefit.
During COP26 the Scottish Government committed to develop a values-led and high-integrity market for natural capital – one that restores and enhances nature, as well as supporting a just transition that involves and benefits communities.
Six interim principles have now been published setting out the government’s ambitions and expectations for responsible private investment, for communities, investors, land owners, land managers, public bodies and other market stakeholders. Their publication makes Scotland the first country in the UK to set out its ambitions for the natural capital market in this way.
These interim principles will help inform and develop market rules, including options for enforcement mechanisms for the market, such as regulation. Under these new principles, investment should:
Minister for Environment and Land Reform Mairi McAllan said: “Private investment in Scotland’s natural capital will be critical to enabling the pace and scale of action required to deliver our world leading ambitions on addressing climate change and biodiversity loss."
More information: Interim Principles for Responsible Investment in Natural Capital
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Posted On: 01/04/2022