Facility for Investment Ready Nature in Scotland (FIRNS)

The Scottish Government and NatureScot, working in partnership with the National Lottery Heritage Fund have launched a new programme of support to help scale up private investment in Scotland’s natural capital.

NatureScot is offering grants of up to £120,000. Applicants to FIRNS are also encouraged to apply for co-funding through project grants of up to £120,000 from the National Lottery Heritage Fund. The Green Finance Institute is supporting the programme.  

The first in a series of webinars, Introduction to Investment Readiness takes place on March 21st, 12:00-13:00. 
Register here

Grants of up to £240,000 will be offered to organisations and partnerships to help develop a viable business case and financial model to attract investment in projects that can restore and improve the natural environment, such as, but not limited to, woodland creation, marine enhancement and peatland restoration. Successful projects will also demonstrate the means to engage and share benefits with communities, contributing to a just transition.

Applicants may be:

• Constituted organisations, including registered charities and trusts, and constituted community groups
• Public bodies, including central government executive agencies, non-departmental public bodies, local authorities and national park authorities
• Private individuals and companies
• Academic institutions
• Community interest companies and community benefit companies

Projects will be expected to be developed in line with Scottish Government’s interim principles for responsible private investment in natural capital.

Timeline

Expression of Interest form to be submitted by noon on Monday 17th April 2023
Full applications window: 17 April to mid-June
Announcement of winning bids: mid-August

Find out more

Minister for Environment and Land Reform Mairi McAllan said:

The Scottish Government has already significantly increased public investment in nature restoration through, for example, our £65 million Nature Restoration Fund. But public investment can’t do it alone. The finance gap for nature in Scotland for the next decade has been estimated to be £20 billion - that’s why we are working to find ways to bridge this finance gap through leveraging responsible private finance.

The Facility for Investment Ready Nature in Scotland programme will enable swifter, easier and scaled up development of nature-based investable projects across the country. It has the potential to grow natural capital markets that reach across rural, urban, terrestrial and marine settings, and to support a wide variety of natural assets and ecosystem services.