SFE responds to UK Government Green Finance Strategy

Following yesterday’s Green Finance Strategy from the UK Government, Sandy Begbie CBE, Chief Executive, Scottish Financial Enterprise, said:

“We welcome today’s updated Green Finance Strategy from the UK Government. It provides positive reinforcement of the stated ambition for the UK becoming the world’s first net zero aligned financial centre, with a focus on a highly credible and robust regulatory environment for ESG investment and green finance.

“Alongside the Green Finance Strategy, we also note the measures to invest in energy security and innovation to capture some of the clear economic opportunities that the transition to net zero provides. There is more that can still be done in relation to the wider grid infrastructure, energy efficiency and home insulation, and incentives for large investors and businesses of all sizes to invest with confidence in long-term transition, but the focus on innovation and security of our energy industry, coupled with some clear measures and some large-scale and impactful projects, is a useful foundation and step up that gives clarity on the UK Government’s commitment to progress.

“A focus on delivery and maintaining momentum is now vital. Over the coming year, we are very keen to work with Scottish and UK Governments to develop the clear role that Scotland’s world class financial and related professional services industry can play. Our strategic ambition is for Scotland to become internationally renowned as a financial centre with distinctive strengths in the field of green and sustainable finance that fully capitalise on Scotland’s key assets in ESG Asset Management, fintech, energy, natural capital, universities and data.”