FIRNS - The Facility for Investment Ready Nature in Scotland - Successful Round 1 Projects

27 diverse projects will share over £3.6 million this year; approximately £1.8 million from public funds and another £1.8 million matched by The National Lottery Heritage Fund through Facility for Investment Ready Nature in Scotland (FIRNS) funding.

The funded projects are spread across Scotland to help them scale up their conservation work and ensure the benefits are shared with local communities: from the Solway Firth to Shetland, Fife, across central Scotland, and the Hebrides. Examples include using private finance to restore river catchments to improve water quality and reduce flood risk, while creating community assets such as growing spaces and improved greenspace. 

FIRNS was co-funded by The National Lottery Heritage Fund in partnership with the Scottish Government and NatureScot. It aims to help create a pipeline of market-ready projects to help attract responsible private investment in Scotland’s nature.

The funding supports the development of natural capital markets in two broad ways. Firstly, by creating a pipeline of investible projects that is ready to meet demand from responsible buyers and investors in values-led, high-integrity natural capital-based markets. FIRNS grants will help pay for the costs of the development of business and governance models for nature-based projects seeking to attract buyers and investors.   

Secondly, FIRNS helps in the development of supportive elements needed for the success of natural capital markets. FIRNS' grants in this case will pay towards the costs of exploring and developing natural capital market infrastructure such as codes, standards and aggregating mechanisms.  

FIRNS will benefit market development, by instilling confidence amongst developers and investors through developing a track-record, creating new models of ‘business as usual’ by demonstrating what does and does not work and through the sharing of new knowledge and approaches that subsequent projects can adopt and adapt. 

Minister for Energy and the Environment Gillian Martin said:  

“The Scottish Government is already investing in nature at scale – with £65 million in the nature restoration fund and £250 million peatland restoration alone.

“However, given the scale of the challenges we face, public investment alone will not be sufficient to meet our ambitious climate change and nature targets. That is why both public and responsible private investment in Scotland’s natural environment will be essential.

“As set out in our new Programme for Government, we are committed to taking forward our distinctive market vision in Scotland – that is a market for responsible investment that contributes to a just transition by benefitting the environment and supporting communities.

“The Facility for Investment Ready Nature in Scotland will support a diverse range of projects - from those seeking to restore coastal saltmarshes, to iconic Atlantic rainforests, peatlands, rivers, lochs, farmland biodiversity and green spaces for nature and people. Encouraging responsible private investment will help ensure these projects can continue to grow and thrive.”

NatureScot’s Director of Green Economy Robbie Kernahan said:  

“Scotland’s nature is in crisis: its unique habitats and ecosystems will only continue providing the benefits to our wellbeing if we act now to value it and invest in it. The new Facility for Investment Ready Nature in Scotland is a vital opportunity to stimulate that investment and will help us halt nature loss – we must grasp it with both hands.” 

More info about the funded projects here.