diff --git a/HISTORY.rst b/HISTORY.rst
index 62d41eaa..61c48891 100644
--- a/HISTORY.rst
+++ b/HISTORY.rst
@@ -25,6 +25,7 @@ PlatformIO Core 4.0
 * Fixed default PIO Unified Debugger configuration for `J-Link probe <http://docs.platformio.org/page/plus/debug-tools/jlink.html>`__
 * Fixed an issue when configuration file options partly ignored when using custom ``--project-conf`` (`issue #3034 <https://github.com/platformio/platformio-core/issues/3034>`_)
 * Fixed an issue when installing a package using custom Git tag and submodules were not updated correctly (`issue #3060 <https://github.com/platformio/platformio-core/issues/3060>`_)
+* Fixed an issue with linking process when ``$LDSCRIPT`` contains a space in path
 
 4.0.3 (2019-08-30)
 ~~~~~~~~~~~~~~~~~~
diff --git a/platformio/builder/tools/platformio.py b/platformio/builder/tools/platformio.py
index f032be94..c4e5dc8c 100644
--- a/platformio/builder/tools/platformio.py
+++ b/platformio/builder/tools/platformio.py
@@ -130,7 +130,7 @@ def BuildProgram(env):
 
     # append into the beginning a main LD script
     if env.get("LDSCRIPT_PATH") and not any("-Wl,-T" in f for f in env["LINKFLAGS"]):
-        env.Prepend(LINKFLAGS=["-T", "$LDSCRIPT_PATH"])
+        env.Prepend(LINKFLAGS=["-T", env["LDSCRIPT_PATH"]])
 
     # enable "cyclic reference" for linker
     if env.get("LIBS") and env.GetCompilerType() == "gcc":
diff --git a/platformio/package/manifest/schema.py b/platformio/package/manifest/schema.py
index 75471323..f1d68e08 100644
--- a/platformio/package/manifest/schema.py
+++ b/platformio/package/manifest/schema.py
@@ -37,7 +37,8 @@ class StrictListField(fields.List):
         try:
             return super(StrictListField, self)._deserialize(value, attr, data)
         except ValidationError as exc:
-            exc.data = [item for item in exc.data if item is not None]
+            if exc.data:
+                exc.data = [item for item in exc.data if item is not None]
             raise exc