Investing to tackle climate change.
The crucial role of private investment in efforts to achieve net zero will be set out by First Minister Nicola Sturgeon later today (Wednesday) as part of Finance Day at COP26.
The First Minister will join the Mayor of London Sadiq Khan at the opening session of a Green Investment Showcase to detail how private investors can help drive the green industries of the future.
The First Minister will emphasise Scotland's role as a world leader in sustainable industries and highlight the associated investment opportunities that exist, including through Scotland's Green Investment Portfolio - now valued at 2 billion and which is expected to reach 3 billion in 2022.
The Showcase, hosted by Scottish Enterprise, will be attended by international and UK-based institutional investors, along with climate and clean tech companies seeking investment.
The First Minister said:
COP26 provides what is possibly our best chance to advance the societal and economic change that is demanded by the climate emergency, delivering lasting action towards net zero and a climate-resilient future.
By grasping the opportunities provided by green industries and supply chains, we can create the good green jobs of the future and secure a just transition away from fossil fuels.
The role of private capital is fundamental to achieving this and governments must do what they can to channel investment into areas supporting transformational change.
Through our Green Investment Portfolio, which is already valued at 2 billion, the Scottish Government highlights a range of exciting, commercially assessed investment propositions to investors and showcases businesses in Scotland as world leaders in innovative green industries of the future.
Mayor of London Sadiq Khan, said:
COP26 is a landmark moment in the fight against climate change. We need to take bold action now or we will face catastrophic consequences in the years to come.
Climate action and economic growth must go hand in hand - in London I'm investing in green technology which generates good quality jobs, for Londoners and across the UK. Turning the tide on climate change will require record investment and coordinated action from everyone - cities, businesses, governments and communities.
That's why I am committed to working with the Scottish Government in pioneering green investment and I'm proud to announce that I will be committing over 30 million in additional funding in London which will help encourage up to 150 million of private investment in low carbon projects and create jobs that will help achieve our 2030 net zero target.
The COP26 Presidency's Finance Day comprises events focused on mobilising finance in response to climate change and
The First Minister will join the Mayor of London at the Global Investment Showcase in Glasgow this afternoon (3 November).