Leeds-based UK Infrastructure bank to fund biodiversity project in Scottish rainforest

The west of Scotland is home to one of the most important remaining temperate rainforest sites in Europe, with this rare habitat now making up just 2 per cent of Scottish woodland.

The bank will provide a short-term bridging loan facility to support Highlands Rewilding Limited’s acquisition of the Tayvallich Estate - a 1,300-hectare rural estate in Argyll.

Dr Jeremy Leggett, chief executive and founder of Highlands Rewilding Ltd, said: “Highlands Rewilding is thrilled to receive this support from the UK Infrastructure Bank.

"We will be working hard to turn it into a significant scaling of nature-recovery, one congruent with the ambitious targets many governments, including the UK’s, set in the recent global biodiversity treaty signed in Montreal.

"The Tayvallich Estate, with its huge potential for temperate rainforest restoration and other wonders, is the ideal terrain for this frontier work. And the residents of the Tayvallich area, as we have seen and experienced already, are the perfect local community to work with.”

Representing the Bank’s first deal exclusively in Scotland, the pioneering project will aim to provide critical new data and understanding on the restoration of Scotland’s ecosystems.

It is hoped the new insights will inform more effective land management for biodiversity, which in turn will support the growth of high-integrity natural capital markets.

The Bank’s finance is expected to enable the restoration of temperate rainforest on the Estate, which, once restored, can absorb carbon dioxide, removing it from the atmosphere.

John Flint, CEO of the UK Infrastructure Bank, said: “The Highlands Rewilding project on the Tayvallich Estate has exciting potential for climate, biodiversity and economic growth benefits, and I am pleased we are able to provide short-term financial support.

“The Bank’s investment is intended to support the development of the science, data and understanding needed to deliver high integrity natural capital markets, in line with our mission to boost the innovative infrastructure technologies which will be essential to achieving Net Zero.”

The Bank’s loan will also enable Highlands Rewilding Limited to move to further rounds of funding with potential investors, with a view to developing new natural capital business and revenue models on the Tayvallich Estate.

A spokesperson for Tayvallich Initiative, a community initiative working to secure affordable housing, local jobs, farming and nature restoration across the Tayvallich area, said: “As a proactive community, Tayvallich looks forward to working with our new neighbour Highlands Rewilding to address our most pressing issues, including affordable housing and facilitating options for younger people to live and work in the area.”