The Glen Dye Moor Project has the potential to make a major contribution to the transition to net zero while delivering multiple social, economic and environmental benefits.
The moor was utilised by previous owners as a deer forest and grouse moor and sporting activity had already ceased when the moor was acquired in December 2021, by Par Equity, the Edinburgh-based forestry investment fund manager and Aviva Investors, the global asset management business of Aviva plc. Par and Aviva Investors created an innovative investment vehicle, Par Forestry IV LP, to finance the project.
The site extends to 6,356 hectares (c.15,700 acres) and sits to the eastern edge of the Grampian Mountains and the Cairngorm National Park, approximately 14 km south of Banchory in Aberdeenshire. The site comprises mainly forestry and peatland – much of which has degraded over time.
Following detailed public and statutory consultation, applications will be made to undertake extensive peatland restoration work across c.1800 hectares and new tree planting over c.3000 hectares, comprising up to 1,000 hectares of productive conifer and 2,000 hectares of native woodland.
Woodland creation and peatland restoration
The woodland creation and peatland restoration project will be designed, implemented and managed by Scottish Woodlands Ltd, one of the UK’s leading forestry management organisations, and undertaken over five years. It also forms part of Aviva Investors’ Climate Transition strategy and commitment to achieving net zero across the entirety of its Real Assets platform by 2040.
Par Equity has extensive experience in forestry investment and the partnership is acutely aware that investment in natural capital comes with responsibilities. The entire project will be undertaken in accordance with the Scottish Government’s Land Rights and Responsibilities Statement and associated protocols and the recently-published Interim Principles for Responsible Investment in Natural Capital.
Employment and Community
The project goes well beyond a quest for carbon and any potential return on investment in natural capital that this emerging market may bring.
The project will provide employment – over 40 years of FTE employment over the first five years. Services and labour will be sourced from providers locally wherever possible. The site will also provide potential for graduate and apprentice positions to be created within the supply and management framework. Scottish Woodlands have established a Banchory office, creating 3 full time local jobs initially, to manage Glen Dye Moor and other properties within the region.
Opportunities to facilitate the use of the site by local schools, colleges, universities and industry participants to utilise the site for educational and research purposes are anticipated. We welcome representatives to get in contact with us via the website to explore this further.
Parts of the site are close to the heart of visitors and activity groups, and we are wholly committed to improving the facilities they already enjoy.