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Seòmar agus comataidhean

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 10 December 2025
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Displaying 6524 contributions

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Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

I have a final question before we leave this issue. Stuart Greenwood, you mentioned contracts of 50 years and 99 years. Is there any business in the world that knows where it is going to be in 10 years’ time, let alone in 99 years’ time? I ask the question genuinely. You might take money now for something that involves a 99-year obligation, but you do not know what the situation will be in 10, 20, 30 or 40 years’ time. Taking that money completely sterilises the land for that period, because you have a 99-year obligation. How can anyone apart from a massive pension fund be in a position to take that risk?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

Yes, but you are suggesting that each vintage will reach maturity, which some might not do. In those cases, whoever ends up with the land, on this merry-go-round of land sales, ends up with all the obligations on it. If I were going to buy something with obligations that I could not necessarily quantify, I would not pay very much for it.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

Maybe we could give Olly Hughes a rest. Would Joel Paterson like to head off on that? I will then bring in one other person. I am sorry, but we are quite tight for time.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

Okay. Perfect. Mark Ruskell has a question.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

That sounds interesting.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

Olly is going to jump in and tell us that he will buy it all.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

How many PIUs are there, per hectare?

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

I am not sure whether the local communities have much input to the planting of Kinrara, or whether the aspirations of the owner to plant bits of it, which are peat and cannot be planted, were ever achievable.

We will leave it there. This subject is very interesting, and it is apposite that we look at it now, given that the Land Reform (Scotland) Bill is before the Parliament.

I thank you all for coming. Although I do not want to single anyone out, I was appreciative, Olly Hughes, that you decided to join at the last minute. I understand how that worked out and I am grateful, because you added to the excellent evidence that we have heard this morning.

10:41 Meeting suspended.  

10:48 On resuming—  

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

I should say to the witnesses that the problem is that, if you all look away, I will have to nominate somebody. If you could indicate whether you would like to come in, I will try to gauge—[Interruption.] Oh my God, every hand has gone up. Now, this is not good.

Lydia Cole, I think that you were first, and then I will bring in Josh Doble.

Net Zero, Energy and Transport Committee

Natural Capital Finance

Meeting date: 26 March 2024

Edward Mountain

Mark, you have some questions.