Scotland launches £1bn green investment plan

Scotland

September 10, 2020 – The Scottish government is inviting investors to get behind a planned portfolio of 10 ‘green’ projects with a combined value of more than £1bn.

The Green Investment Portfolio includes opportunities for investment in low-carbon, eco-friendly and recycling schemes. The market-ready projects are intended help Scotland transition to a net-zero economy by 2045.

Private capital is being sought for the 10 projects with a combined value of £1.16bn. The schemes range from a hydrogen development programme in Aberdeen to a plastic recycling project in Perthshire.

The portfolio was launched at Lanarkshire’s Mossend International Railfreight Park, which one of the featured projects. Economy secretary Fiona Hyslop said: “Worth around £300 trillion globally, we know that the market for green finance is burgeoning and Scotland’s natural assets and reputation for innovation make it a highly attractive place for that investment.

“We know investors need credible projects that reduce emissions to match their own green ambitions. By assessing these projects before they go to market, the Green Investment Portfolio gives global investors the confidence they need to back projects in Scotland.

“The range of opportunities within this portfolio will expand over time to include £3 billion of projects ready for green finance investment, covering sectors from environmentally sustainable commercial real estate to low emission transportation and green energy.

“Working in partnership with business, we are committed to ensuring that economic growth promotes happiness and improves the opportunities, life chances, and wellbeing of every citizen in our country.”

David Stirling, director of Mossend International Railfreight Park operator Peter D Stirling, said: “We are fully supportive of the Scottish Government’s target to achieve net zero emissions by 2045 and indeed are contributing to this by providing Scotland’s largest zero-carbon, multi-modal rail freight park. The Green Investment Portfolio is a valuable tool to help us reach out to global investors. With future plans including Scotland’s first 775-metre electric rail terminal, we hope to benefit many local businesses as well as those based across Europe and beyond.”

Source:- https://www.theconstructionindex.co.uk/news/view/scotland-launches-1bn-green-investment-plan

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