‘Green lairds’ fear as Cairngorms snapped up for carbon offset

A£7.5 million deal for swathes of land in the Cairngorms National Park has sparked fresh concerns that private investors are moving to “cash in on the climate emergency” at the expense of local communities.

The fears were raised after Standard Life Investments Property Income Trust (Slipit) announced last week it had acquired 1,447 hectares of upland rough grazing and open moorland in the park, to be “used as part of the company’s carbon strategy”.

It follows plans from craft beer giant Brewdog to create a “lost forest” at the 9,300-acre Kinrara Estate in the Cairngorms to offset carbon emissions.

Soaring interest from the private sector has led to growing pressure on Scottish ministers to step in and regulate the market.

Campaigners fear the rise of so-called “green lairds” will usher in another era of land “exploitation” in Scotland, as businesses buy up estates for carbon offsetting and to take advantage of government grants and tax breaks.

In the latest acquisition, Slipit said its new site supports 956 hectares for planting with natural broad leaf trees – about 1.5m trees in total.

The company added: “It is anticipated that the costs of planting will be met through grant funding.”

Land reform campaigner Peter Peacock has been a leading voice urging action to ensure communities are not left behind as interest in the land market grows.

He said: “I warned a few months ago that we could expect to see a new trend in land purchases by private interests seeking to cash in on the climate emergency, and this appears as more evidence of it.

“Wealthy institutions can afford to spend millions buying up bits of Scotland and are then expecting the taxpayer to pay for the planting of the trees they plan, all enhancing their existing wealth.

“Scotland urgently needs to find the bold measures that would allow local communities to own the means to tackle the climate emergency and build and retain wealth locally.”

Ailsa Raeburn, chairwoman of Community Land Scotland, which represents community landowners who manage 560,000 acres, also called for greater regulation.

She said: “Investments such as these by disconnected absentee investors serve only to further increase land values and place even more of Scotland’s land out of the reach of local people and communities.”

The Scottish Land Commission has previously said it was working to ensure communities are protected and can benefit from the new trend in green finance.

Jason Baggaley, Slipit fund manager and deputy head of real estate value add funds at abrdn, said: “The aim is to restore woodland and peatland over the whole 1,440 hectares.

“The woodland creation element of the project will improve amenity, enhance biodiversity, mitigate flooding and improve air quality, while restoring the drained peatlands.

“The transition will stimulate the local economy with between 50 and 100 people working on the project over the next six years to create a woodland that can be enjoyed by all.

“The existing use has no agriculture and very limited sporting value.

“By working collaboratively with the local community and interested parties, businesses can help drive sustainable change that can be enjoyed by future generations.

“We will be undertaking local community engagement later on in the year.”

UP FOR GRABS: Huge areas of the Cairngorms are being targeted by big business investors for carbon offsetting projects funded by public grants.