Scotland's developers are being encouraged to pitch for large-scale investment to support projects reducing Scotland’s emissions in areas such as renewables, waste, transport and the circular economy.
Projects helping the transition to a net-zero economy by 2045 can apply to be included in the Green Investment Portfolio, a new investment programme, estimated to be worth £3 billion over a three-year period. Local authorities, and third sector organisations will also be given the opportunity to invest with the private sector.
Announcing the launch at the Ethical Finance 2019 conference in Edinburgh, Nicola Sturgeon, the First Minister said: “Scotland is determined to lead the transition to a net-zero carbon economy, and we have been clear that we must leave no-one behind.
“With 85% of the finance for this transition coming from the private sector, we must do everything we can to help all parts of the economy contribute to net-zero emissions by 2045. The Green Investment Portfolio supports our ethical finance ambitions by matching projects which are reducing emissions with investors so we can fully maximise their potential and promote them globally.
“This could include projects that are making buildings more energy efficient, reducing industrial emissions or even restoring peatlands. Our aim is to take to market a £3 billion portfolio of investable projects over the next three years.”
The Green Investment Portfolio will work with partners, including Scottish Enterprise, the Scottish National Investment Bank, Highlands and Islands Enterprise, Scottish Futures Trust, UK Department for International Trade, Scottish Renewables and the Scottish Property Federation to bring together the private and public sector-led projects.
Eligible projects which are market-ready and seeking private sector capital should contact investment@gov.scot.
