The potential of Argyll and Bute’s natural landscape to tackle carbon emissions could be worth millions to the local economy, according to new research.
Scientific and economic research specialists have assessed the opportunities the area’s land and sea assets have to offer, and how community, private and public sector partners might unlock the widest local benefits from carbon sequestration.
The project has been managed by Highlands and Islands Enterprise (HIE) for Argyll and Bute Council and funded by the UK Government through the UK Community Renewal Fund.
The findings show that carbon sequestration offers opportunities for place-based economic development, especially for commercial and community landowners in agriculture, forestry and peatland.
The report stated that by working to develop projects for land management or peatland protection, action could deliver wide ranging environmental and local economy benefits through carbon credits - especially if integrated with wider considerations such as supply chain greening.
As an example, restoring 10% of Argyll and Bute’s degraded peatland could deliver around £8m, and set aside of 10% of agricultural land for planting native woodland could deliver £16m, with both creating and supporting jobs.
Stuart Black, chief executive of HIE, said: “Argyll and Bute’s geography, and impressive local skills base in marine, forestry and agriculture, mean it’s the perfect location to analyse the scale of the carbon market opportunity.
“Our aim has been to develop a vision and methodology which maximises the benefits and addresses the barriers for communities and businesses.”
Ross Moreland, policy lead for climate change and environmental services at Argyll and Bute Council, said: “The council is committed to working in partnership to create a climate friendly Argyll and Bute and achieve net zero by 2045.
“Carbon sequestration is an essential part of our ambitions as we look to improve the area’s natural environment, so we will continue to work with partners to help restore peatlands and plant native forests and find innovative green solutions to help reduce emissions and unlock local economic potential.”
UK Government Minister for Scotland Malcolm Offord added: “This research shows Argyll and Bute has extensive potential for removing and storing carbon and protecting biodiversity, which could attract significant investment to the region which would benefit local communities by creating new green jobs.“
The work has been delivered by the Scottish Association for Marine Science, Imani Development, ekosgen, Azets, Caledonian Climate and Galbraith.
Key findings include:
- the best short-term opportunities come from woodland and peatland carbon codes;
- as more carbon and natural capital markets develop, more of the area’s land and marine assets will be significant – including seagrass, seaweed, shellfish, hedgerow, soil and saltmarsh;
- scenario modelling highlights the financial returns could range from £8.7m, based on restoring 10% of local degraded peatland, to more than £3bn when looking at longer-term high value integrated projects;
- carbon sequestration activity, supported correctly, will not only stimulate the economy but can secure wider community and environmental benefits;
- peatland and woodland projects are already underway – there are 855 hectares of woodland dedicated to projects, with more in planning.
Research recommendations include calls for an ongoing partnership approach to implement the best models and measures required to support carbon market facilitation as part of a wider approach to a values-led natural capital market.
Don't miss the latest headlines with our twice-daily newsletter - sign up here for free.
