Scottish First Minister Nicola Sturgeon has opened a public consultation on the Scottish National Investment Bank (SNIB), pledging that the Scot-Govt.will ‘seize the economic opportunities of tackling climate change’. These have been welcomed by prominent economists Lord Adair Turner and Professor Mariana Mazzucato to help transform Scotland’s economy through large-scale investment in a low-carbon economy. Mazzucato, Professor of the Economics of Innovation and Public Value at University College London and a member of Scotland’s Council of Economic Advisors, commented: “I welcome strongly the decision to establish the Scottish National Investment Bank. It shows that the Scottish Government is looking seriously at ways to increase flows of investment and to direct them to support key public policies like reducing greenhouse gas emissions, increasing productivity and building an inclusive economy. “There is a lot of experience from other countries of what works and what doesn’t and if we draw from that, the bank can make a real difference to Scotland’s economy.”
Scottish Energy News 23rd Oct 2017 read more »
Plans for a national investment bank could transform Scotland’s economy and create thousands of green jobs, campaigners have said. Friends Of The Earth Scotland, the Scottish Trade Union Congress (STUC) and economists have united to urge the Scottish Government to use the opportunity to invest heavily in a low-carbon economy. Ministers have announced a public consultation on the proposed investment bank, first unveiled in First Minister Nicola Sturgeon’s programme for government in September. Dr Richard Dixon, director of Friends Of The Earth Scotland, said the development of the bank should be closely aligned with plans for a state-owned energy company in Scotland and the establishment of the government’s new Just Transition Commission. He said: ” The new Scottish national investment bank could work to help fund the investment that moves us to a low carbon economy. “If the bank develops the right remit, it could create thousands of green jobs by transforming our transport, heating, housing and electricity. “By working closely with the recently unveiled Just Transition Commission and government-owned energy company they can deliver a joined up economic strategy that puts tackling climate change at its heart.” STUC general secretary Grahame Smith said: “It is also imperative that every investment made by the bank honours the principles of fair work and that the jobs developed are high quality, providing security, respect, and an effective voice for every worker. “We look forward to working with the Scottish Government to ensure that the new bank functions effectively and to that end its governance should include representatives of trade unions and the environmental sector in order to ensure a just tr ansition.” The plans were also welcomed by economists Lord Adair Turner and Professor Mariana Mazzucato ahead of an event in Edinburgh organised by the environmental charity and the STUC.
STV 23rd Oct 2017 read more »
