Horizon Scan Roundtable: Exploring Place-based Approaches to Natural Capital
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The Scottish Forum on Natural Capital recently hosted its Horizon Scan Roundtable, bringing together over 50 influential leaders from across the environmental, policy, and land management sectors to explore place-based natural capital approaches in Scotland. This high-level event, which included expert talks, targeted interventions, and dynamic breakout sessions, provided a critical space for discussing how Scotland’s diverse landscapes could be better protected, restored, and leveraged for the benefit of both the environment and local communities.
The Future of Natural Capital
The new Forum Co-Chairs, Dr. Hannah Rudman and Colin Brown, kicked off the event with opening remarks and a warm welcome to all attendees. They then introduced Mairi Gougeon, the Cabinet Secretary for Rural Affairs and Islands.
Mairi Gougeon MSP, opened the Horizon Scan Roundtable by framing the discussions around Scotland’s twin climate and biodiversity crises. She highlighted the importance of taking a forward-looking approach, stating, “Our collective knowledge and skills are key to creating ways that not only protect and enhance Scotland’s natural environment, but also unlock its full potential for our communities and future generations.”
She reinforced the significance of place-based approaches, noting that these strategies consider the social, environmental, and economic characteristics of a region. Gougeon emphasised, “One such area leading on innovation is the south of Scotland as a ‘National Natural Capital Innovation zone’,” where nature-based projects are helping to drive economic development while addressing climate resilience. She highlighted Blackthorn Salt in Ayr as a prime example of sustainable enterprise, demonstrating how environmentally responsible practices can drive local employment and enhance supply chain resilience.
Concluding her speech, Gougeon stressed the need for collective responsibility, calling on everyone—investors, land managers, and communities—to contribute to preserving Scotland’s natural capital.
Interventions and Insights
The Scottish Forum on Natural Capital invited three leaders from diverse sectors to provide a snapshot of natural capital from their perspectives. Mark Diffley, an expert in polling and public opinion, offered insights into public attitudes toward environmental issues. Helen Avery from the Green Finance Institute discussed the financial implications and opportunities surrounding natural capital. Finally, Rachel Skene, representing Northwest 2045 and the Highlands area, highlighted the unique challenges and opportunities for natural capital in rural Scotland.
Rachel Skene underscored the critical role of natural capital in Scotland’s territorial potential, stating, “Natural capital is fundamental to the territorial potential and in generating place-based returns across Scotland.” She emphasised, “We, Scotland, have the have potential, and parts, to assemble and develop a countrywide portfolio of prospects. Imagining this portfolio exposes the question at the crux of realising this opportunity: to leverage natural capital for common good then who/what is best to own and manage the asset base from where this portfolio of potential yields?”
Skene called for an integrated approach, noting, “Natural capital must be a foundation stone of blended, intelligent, integrated national resource,” advocating for new models of ownership and management. She concluded, “Scotland can be at the vanguard…if we act on the imperative, and are not willing to let millions, billions leak out, and we act to be part of a generational shift from done unto to doing with.”
Breakout Sessions: Tackling Challenges and Seizing Opportunities
Following the keynote speeches and interventions, the 50 multisector leaders in attendance broke into smaller groups to discuss the potential and scale of place-based natural capital. These discussions produced valuable ideas for growing and accelerating natural capital interventions across Scotland. Some of the key takeaways included:
- There was significant discussion on how to frame and define natural capital and quantify its value. Across all key themes, it became evident that developing shared visions, a common language, and a unified narrative is essential for effective communication and fostering understanding among all Scottish sectors and stakeholders engaged with natural capital.
- Attendees emphasised the necessity of connecting policy systems by placing nature at the centre from policy design, advocating for courageous dialogue and a commitment to navigate policy complexities at the community level, rather than resorting to future retrofitting.
- A strong consensus emerged regarding the need for supporting business transition through market mechanisms, like LENS, reverse auctions, requiring cross-departmental alignment and incentives that encourage businesses to adopt nature-based solutions.
- Building trust, collaboration, and partnerships was highlighted as essential, with concerns about greenwashing and exploitation raised by participants. Leaders emphasised the importance of empowering communities and landowners, who hold invaluable cultural, economic, and environmental knowledge, to unlock the full potential of place-based natural capital initiatives. Demonstrating successful examples that show:
- Shared benefits
- Financially viable
- Positive nature outcomes
- Locally-led projects
- The significance of harnessing local knowledge through community-led initiatives was consistently highlighted, recognising the deep understanding and capacity that local communities and landowners possess regarding the cultural, economic, and environmental advantages of natural capital, underscoring the need to empower and support these stakeholders in leading nature-based solutions.
A Shared Vision for Scotland’s Natural Capital Future
As the roundtable drew to a close, it was clear that the path forward for Scotland’s natural capital lies in collaboration, innovation, and a commitment to long-term, place-based solutions. The discussions underscored the need for continued investment in Scotland’s natural environment and the importance of creating a shared vision for how natural capital can be used to support both ecological recovery and economic development.
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