Marine and coastal restoration plan consultation: Scottish Government response

Theme 3 – Funding and finance

Headlines from analysis

At least 69% of those responding thought that all three objectives within Theme 3 were important to some extent. At least 62% of responses indicated that each action in the theme should be included in the plan. Support ranged from 62% for “Explore the potential for a matchmaking service linking businesses to projects” to 84% for “Highlight existing public and private sector funding streams such as SMEEF that already target [the project development] phase”, with 76% of respondents saying that the action “Maintain support for SMEEF for the duration of this first plan” should be included.

Response

Project development funding

As with other themes, responses in the consultation for Funding and Finance have provided valuable perspectives, including further detail from respondents on particular aspects of the project development phase of restoration work for which funding should be facilitated. This feedback will be particularly helpful as we implement a number of cross-cutting actions under the plan. For example, the one-stop-shop could signpost to existing funding streams and could incorporate information about what is needed at all phases of restoration – from project development to ongoing monitoring – to support both restoration projects and highlight these factors to funders.

Leveraging private sector investment

We also note that there were calls in the consultation responses to make stronger and more explicit links with wider policies, including those which could open up new avenues for private sector funding of restoration. We know that clarity around policies relating to strategic compensation and net gain/nature positive are key priorities for those interested in restoration (including potential funders), and we will ensure the restoration plan is aligned with these approaches as they develop.

While community-led/involved restoration is key, accelerating and scaling up restoration will, in part, need to rely on private sector investment. A small number of respondents reflected on a potential power imbalance between small community-led projects and large private investors. Similarly, some raised the need to support, rather than overwhelm, small projects run by volunteers or local people with disproportionate expectations imposed under funding agreements. This is why a key priority for the Scottish Government throughout the development of funding avenues with private sector organisations will be to make sure the benefits of restoration are realised with and by communities.