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Finance the Real Barrier to Radical Land Reform in Scotland
Triodos Bank Press Release, 11 March 2003
Triodos Bank, pioneers of finance for community initiatives for over twenty
years, has welcomed radical land reform in Scotland. But experts from Europe's
leading ethical bank warned that finding the money to take advantage of these
changes was the single, greatest barrier to strengthening Scotland's rural
communities.
According to Triodos, the opportunities for land ownership could be lost without
commercial, non-public funding. "The potential for rural communities to take
control of their land and their economic futures is now in place, but the
challenges these changes present are immense. The benefits of land reform to
rural communities will be meaningless unless rural people can access the right
funding," says Triodos Bank's David Cousland.
"Grant funding alone will not be enough. Additional funding will need to be
found and it is available. Increasingly, experienced but unconventional
financial institutions can provide solid financial backing for community led
initiatives that benefit people and their land. Alongside grant funding
providers, ethical institutions like the Triodos Bank, and others, are at the
forefront of these efforts."
Triodos, which only provides finance for positive social and environmental
initiatives, helped finance the Assynt Crofters Trust in Sutherland in a
flagship case of land reclamation in the 1990s. With few obvious opportunities
to generate income on their land, the local community found the money to build,
and now operate, a viable hydro-electric project.
Triodos also helped finance Laggan Community Trading. This innovative community
enterprise runs the local shop and provides increased rural housing to local
people. "These are just some of the examples of the way local people have
delivered a more positive future built around the strengths of the community,"
says David Cousland. "But without sources of income to support funding from
organisations that understand the very real challenges that these communities
face, land reform could fail to deliver its substantial promise."
Further Information and Contacts
Triodos Bank one of the leading social and environmental savings and investment
banks in the UK. Triodos only finances enterprises creating social,
environmental or cultural added value. Key sectors include community-based
enterprise, organic food and farming, renewable energy, social housing and
fairtrade products.
Transparency is a core value: customers are informed about
the bank's lending and can target their savings to particular areas of
investment. A range of personal savings accounts is offered and full banking
services are available for businesses and charities. Triodos Bank is an
independent bank in Netherlands in 1980. Its principles and independence are
protected through a special shareholding trust. The UK office opened in 1995 and
is based in Bristol.
To contact Triodos Bank call James Niven on 0117 980 9721 or e-mail:
james.niven@triodos.co.uk
Visit: www.triodos.co.uk
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