Scottish Government sign agreement that could welcome £2 billion investment in biodiversity projects
Watch as ITV Border explore the new investment pilot by NatureScot
The Scottish Government have signed a deal in a private finance investment pilot that could see £2 billion spent on biodiversity projects.
The first pilot scheme will begin in spring 2023 and will be focused on the upper catchment of the River Tweed.
The deal is designed to welcome fresh investment across the South of Scotland and in Scotland's landscape with new jobs and support for rural communities across the country.
Investment could also see around 185,000 hectares of native woodland created.
Biodiversity Minister Lorna Slater said: “The finance gap for nature in Scotland for the next decade has been estimated to be £20 billion.
"Leveraging responsible private investment, through valuable partnerships like this, will be absolutely vital to meeting our climate targets and restoring our natural environment.
"Scotland is well placed to take a leading role by offering investors the opportunity to generate sustainable returns from the restoration and regeneration of our landscapes.
"This investment will generate multiple benefits: ending the loss of biodiversity, improving water quality, reducing the risk of flooding, regenerating local communities and creating green jobs.”
The initial scoping assessment identified the potential for around 30,000 hectares of new native woodland in the heart of Southern Scotland with the potential for between £200 and £300 million of private investment and around 6 million tonnes of carbon sequestration.
The Scottish Government state that private investment is needed in order to "tackle the twin nature and climate crises."
Robbie Kernahan, Director for Green Economy at NatureScot, said: “We’re delighted to be working with these businesses to deliver scalable investment in our natural capital in Scotland.
"To deliver the aims of the Climate Change Plan we need to bring private investment to Scotland and this new partnership will allow us to test a new approach.”
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