Energy

Scotland opens new green investment programme

Scotland has announced the launch of a new green investment programme.

In a bid to accelerate the nation’s journey towards reaching net-zero emissions by 2045, First Minister Nicola Sturgeon has invited councils, developers and a range of other organisations to pitch for large-scale investment to support sustainable projects.

It notes these projects will largely focus on renewables, waste, transport and the circular economy and suggests the Green Investment Portfolio is estimated to be worth £3 billion over a three-year period.

The first round of projects is expected to be launched in spring 2020.

The Scottish Government will partner with 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 help projects better market their solution, reach commercialisation and attract private investment.

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.”

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