One Investor’s Uphill Battle to Turn Rewilding Into a Multi-Billion Dollar Industry

Leggett joins a growing body of environmentally-minded businessmen. Photographer: Lorna MacKay/Bloomberg ,

Everyone involved is betting Scotland will soon pass a law that forces companies to make up for their environmental impact by funding protection elsewhere. Similar regulation was due to enter effect in England later this year, but has been delayed. They’re also eyeing a global, unregulated market for the credits that’s gotten a boost from a commitment by almost 200 countries to halt and reverse biodiversity loss by 2030, and new guidelines for business to address nature-related risks.

Leggett set up Highlands Rewilding in 2020 with proceeds from the sale of Solarcentury, a company he founded in the 1990s that became one of the UK’s largest solar panel providers. He likens the opportunities in what he calls the “nature recovery industry” to the nascent renewables sector 30 years ago. “It feels like groundhog day,” he said.

Others are skeptical that the biodiversity credits market can gain traction and that it won’t face the same problems as carbon offsets, which are much more widespread. Three decades after the carbon market was set up, it’s still plagued with questions over whether the credits deliver on their promised climate benefits. Multiple cases have emerged of companies manipulating baselines or claiming credits for forests that were never threatened.

“Whether around the move to sheep and then the move to deer and the move to trees and the move to renewables, Scotland's land has always been seen as an open book,” said Ailsa Raeburn, chair of Community Land Scotland, an organization for community landowners. Leggett has tried to reassure locals by signing an agreement with a community group that includes a no-eviction policy for tenants and provisions for local jobs. He’s pledged to ensure any houses built or sold on the land are primary residences, rather than second homes or tourist accommodation, and to involve the local community in new policies and business plans, though they won’t have veto rights.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analysis-US crypto industry comes to Washington, but faces uphill struggleBy Hannah Lang (Reuters) - Crypto companies are descending on Capitol Hill on Wednesday, but their push to advance industry-friendly laws is likely to ...
Source: SaltWire Network - 🏆 45. / 63 Read more »

Where investors should focus their attention in the bond marketWith the worry of a potential government shutdown — which Moody's cites as a hit to U.S. credit — and the Federal Reserve's 'higher for longer' interest rates gathering steam over markets, investors are unsure where to hold investments. BlackRock Head of iShares Investment Strategy Gargi Chaudhuri joins Yahoo Finance to explain the movements in the bond markets and what investors should pay attention to during the shaky state of the economy. Chaudhuri offers insights into how markets are reacting to interest rates based on where Treasury yield curves are now: 'The 5-year part of the curve is where investors should be allocating to.' For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »