NatureScot's webpage for the nature investment partnership still lists Aberdeen as a member [1]. Aberdeen withdrew late last year [1]. NatureScot briefed stakeholders in February [1]. The page hasn't changed [1].
December, Holyrood. MSP Rhoda Grant tables a question about the nature investment partnership [1]. Jim Fairlie, SNP agriculture minister, responds: NatureScot "continues to engage with a range of investors" [1]. No private finance has reached the ground yet [1]. He doesn't mention Aberdeen is gone.
Sources say Aberdeen withdrew by December because it felt investments would make insufficient returns [1]. The firm had committed to raise at least £100m [1]. By September, only the UK government's national wealth fund had offered money, £50m, contingent on Aberdeen providing match-funding [1].
Match withdrawn
The UK national wealth fund has now withdrawn its £50m [1]. No Aberdeen, no match, no money.
NatureScot's model requires private funders to meet costs of planting new forests not covered by public subsidies while paying landowners rent [1]. The original £2bn target would fund 185,000 hectares of new woodland [1]. The timeline is the problem. Very few pension funds, banks, or private investors are prepared to fund nature recovery, returns too low, too long-term, too uncertain [1].
First collapse, second attempt
Early 2023: then-Scottish Greens minister Lorna Slater unveils the partnership [1]. Original deal involved Hampden & Co, Palladium, Lombard Odier [1]. Target: up to £2bn [1]. That arrangement fell apart amid scepticism from conservation and financing experts [1].
Aberdeen comes in. The target drops to £100m minimum. By September, still only the national wealth fund. By December, Aberdeen is out. February: NatureScot briefs stakeholders. Holyrood question: no disclosure.
The webpage still lists Aberdeen [1]. NatureScot says it "continues to engage with a range of investors" [1]. No private finance has yet been directed through the partnership into on-the-ground projects [1].
A Scottish government spokesperson said: "We remain committed to attracting private investment into nature restoration and are exploring all available options" [1]. The partnership, now more than two years old, has delivered no woodland.
