FIRNS - The Facility for Investment Ready Nature in Scotland
If you would like to find out more about the programme, please read our Aims and Outcomes and our Guidance and Eligibility guidance documents and all other documents in the Resources section of the How to Apply page.
If you have any questions or would like to discuss your project, please get in touch with us at [email protected].
Introduction
The Scottish Government and NatureScot, working in partnership with The National Lottery Heritage Fund, with the support of the Green Finance Institute, have announced a new round of the FIRNS grant scheme to support projects that shape and grow the use of private investment and market-based mechanisms to finance the restoration of Scotland’s nature. The next round of funding will focus on organisations and partnerships developing investment ready proposals through projects currently being delivered with FIRNS funding.
If managed properly, restoring of our environment and nature will not only help put Scotland on the path to meeting its climate and nature commitments, but also yield rewards in terms of a just transition and bringing economic benefits to communities.
Both public and responsible private investment in Scotland’s natural capital will be essential to meet the pace and scale of the challenge of delivering on our climate change and biodiversity targets and wider land use policy objectives.
Leveraging responsible private investment will be vital and Scotland will need to position itself accordingly in order to trade in nascent, but rapidly growing, natural capital markets.
The Scottish Government is committed to ensuring these markets are values-led and high-integrity, the vision for this is set out in Scotland's Natural Capital Market Framework (2024)
These markets, and the projects that supply them, will restore Scotland’s nature and grow its natural capital, providing beneficial ecosystem services, economic and social benefits, and contributing to Scotland’s prosperity. They will also create good quality jobs, support a diverse and robust indigenous supply chain and directly benefit local communities including through financial contributions, opportunities for business and increasing wellbeing.
Delivered by NatureScot in collaboration with The Scottish Government and in partnership with The National Lottery Heritage Fund. FIRNS will help selected projects to bridge the gap between the conceptual idea and the investment ready proposition capable of attracting private finance.
FIRNS will support 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 will help 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.
Quotes:
NatureScot Director of Green Economy, Robbie Kernahan said:
"The FIRNS programme is helping to establish a strong pipeline of investible nature-based projects that Scotland needs to reach its ambitious biodiversity and climate targets. With the direction set by Scotland’s Natural Capital Framework, nature outcomes, community interests, credibility and attractive investments remain at the heart of FIRNS projects, and we're looking forward to hearing from interested groups about their proposals."
