Galvanising change via natural capital

Challenges

Natural capital refers to a concept or framing, with a focus on the stocks and flows of services that nature provides to society, and specific datasets. This concept has seen growing attention over the last decade and improving the data, as it is hoped, may assist in greening decision-making, in various sectors and venues, ranging from policy through financial investors, to farm level.

Scotland is a pioneer in adopting natural capital: a Scottish Government Natural Capital Policy team is working to embed Natural Capital into policy processes, framed around the Four Capitals approach; whilst multiple initiatives within NatureScot’s Natural Capital Pilot Programme (NCAPP) explore how to work with it with different groups and levels. Other notable initiatives directly relevant to natural capital include SEPA’s One Planet Choices initiative, which uses integrated capital assessments. The general goal of all such initiatives – and that this project seeks to both learn from and inform – is to routinely embed consideration of natural capital across sectors, policies and levels.

Natural capital is not a single, simple or easy-actionable piece of information. It has multiple and contingent versions and interpretations; will not be the only form of knowledge used in interpretation; furthermore, interacts with interests and institutional structures when influencing decision-making processes. These interacting factors often tend to inhibit change. Achieving transformation in support of sustainability is thus an urgent challenge but also notoriously difficult. Identifying levers of change is vital to ensure future research and practice efforts are most appropriately and effectively focused. There is a need to critically appraise how and when natural capital can support change for sustainability.

Questions

Solutions

The main aim of this project is to produce constructive insights about the most productive venues (territorially and sectorally) and approaches (how and with and for whom) for using natural capital concepts and data to galvanise change for sustainability.

Reviewing international practices 

We are reviewing and generating insights based on innovative, international practices relevant to Scotland in governing with natural capital. This is covering systematic mapping and rapid evidence appraisals, interviews, and a summary of international innovative practices relevant to Scotland.

Analysis of natural capital in Scottish policy 

We are co-constructing an analysis of natural capital in Scottish policy processes. Based on transdisciplinary collaboration with Scottish government policy peers, this research ‘walks along’ with policy to explore when and how Natural Capital concepts and data might influence policy planning and evaluation processes. The target policies are influenced by policy stakeholder experiences, preferences, and policy windows.

Evaluating opportunities and consequences

We are evaluating opportunities and consequences of markets and blended finance for natural, economic, human, and social capital. This responds to evolving practices and opportunities arising from Scotland’s Route Map to £1 billion, and any other initiatives. This is delivering a review of future private schemes and finance mechanisms and public-private blended finance options and a report on pilots of blended finance for natural capital policy in Scotland.

Private-sector investment in nature-based solutions 

We are exploring how natural capital concepts can unlock private-sector investment in nature-based solutions. This is understanding private sector motivations and contributions and requirements for governance approaches to maximise appropriate private sector involvement in the Scottish context.