Scotland’s Budget will deliver record levels of investment in tackling the climate emergency – helping to protect and restore the natural environment, and slash emissions from homes, industries and transport.
The 2022-23 budget provides more than £2 billion for measures that will accelerate a just transition to a Scotland which leads the way in ending climate change.
This includes:
£53 million to protect and restore the natural environment, including peatlands, and a further £69.5 million to create and sustain woodlands;
£336 million invested in energy efficiency and low carbon and renewable heat to deliver warmer, greener homes. This includes £160 million to support those least able to pay for home energy improvements, helping to cut emissions while tackling a major driver of fuel poverty and creating jobs across the country;
Investment of £53 million for the energy transition and industrial decarbonisation projects;
The first £20 million allocation of the Just Transition Fund for the North East and Moray will be made – with impacted workers playing a key role in deciding how the funds are spent;
Almost £1.4 billion will be spent to maintain, improve and decarbonise Scotland’s rail network. Free bus travel for young people will receive £110 million, and £150 million will be invested in active travel, such as walking and cycling. This will support efforts to cut car kilometres by 20% by 2030.
Cabinet Secretary for Net Zero, Energy and Transport Michael Matheson said: “We are playing our part in tackling the global climate emergency head on. This budget carries forward the momentum created by COP26, with record investment in transforming Scotland into a net zero, climate resilient nation.
“We are prioritising investment in the natural environment, including our vital woodlands and peatlands. This is not just good for the planet, it will also support local jobs in the rural economy.
“We are also taking action to make our homes warmer and greener to help reduce emissions, while tackling fuel poverty and creating green jobs.
“The transition to net zero has to be made in a way that is fair and just, with no one left behind. Our Just Transition Fund will give communities impacted by the transition a real say in their future, and create new economic opportunities in which they can thrive.
“We have set a challenge of reducing the number of kilometres travelled by car in Scotland by 20% by 2030. Achieving this will require a big modal shift in how people travel and a greener, decarbonised public transport network as an attractive alternative.
“That’s why we are prioritising transport spending on public transport and active travel. By investing almost £1.4 billion in 2022-23 to maintain, improve and decarbonise Scotland’s rail network and providing record investment for walking, wheeling and cycling of £150 million next year.
“Bus services and users will benefit from £414 million, which includes £110 million for free concessionary bus travel for young people aged under 22, helping to establish and embed positive sustainable travel habits among our younger generations.”
Council reports record greenhouse gas emissions fall for 6th year running
The City of Edinburgh Council greenhouse gas emissions have continued to fall for the sixth year running.
This has been helped in part by the upgrading of LED street lighting across the city, and a drop in fleet emissions.
The findings, which have been released as part of the latest Public Bodies Climate Change Duties (PBCCD) report, reveal that Council emissions have been cut by 11% in the past financial year – supporting the Council’s ambition of becoming a net zero organisation by 2030.
The reduction, which also includes emissions from Edinburgh Leisure, is mainly thanks to a fall in electricity consumption, achieved through lighting or other energy efficiency upgrades, property closures during the pandemic and greening of the electricity grid.
The upgrade in LED street lighting across the city also contributed to a third of the drop in overall electricity use. A decrease in the use of the heavy vehicle fleet and a drop in business travel during the lockdown also helped emissions fall.
In 2020-21, emissions from buildings made up 66% of the Councils carbon footprint. Meanwhile, emissions from waste totalled 9%, fleet 10%, business travel 1% and other energy consumption, such as street and stair lighting, alarms and traffic signals made up 14%.
The report will be considered by the Policy and Sustainability Committee on Tuesday 30 November, alongside the final Council Emissions Reduction Plan – which outlines the initial steps the Council needs to take to become a net zero organisation by 2030.
Council Leader Adam McVey said:“It’s fantastic to see our hard work paying off, cut our carbon emissions for the sixth year running. It shows that major programmes of work to support a greener, net zero council by 2030, such as making Edinburgh’s street lighting more energy efficient, is having a real positive impact on the organisation and the city.
“While achieving an 11% drop in emissions this year is a significant achievement that we’re looking to build on, we must not become complacent. We know that 2020-21 was a unique year, and some of the changed to how we worked during the pandemic have contributed to this drop.
“As we transition back into the workplace over the coming months, we need to build on our progress to date and bank some of the progress of changes made during the last year. By continuing to make our buildings more energy efficient and encouraging colleagues to use more active and sustainable means of travel for work where possible we can recover from the pandemic in the greenest way possible and keep us on the track to net-zero by 2030.”
As well as reporting on the Council organisational emissions, the PBCCD report also covers the action taken by the Council to get ready for the unavoidable impacts of climate change – such as flooding and heatwaves.
It highlights that there has been a large increase in adaptation and climate risk activity being embedded across Council services, policies and plans – including the creation of the Edinburgh & Lothians Strategic Drainage Partnership to spot and reduce flood risk in the city and work to identify risks and protect Edinburgh’s World Heritage site, historic buildings and coastal communities.
It also highlights the Council’s new sustainable procurement strategy, which was launched in March 2020. The new policy means that Council procurement activity now contributes to its compliance with climate change duties.
Depute Leader, Cammy Day added: “The challenge we now face as a Council is how we maintain and improve on these reductions in emissions – which is why I’m delighted to see the publication of our Council Emissions Reduction Plan.
“By calculating the emissions impact of all of our activity and providing a clear plan for how we can cut our footprint, we can continue to make progress and build on our successes to date, helping to deliver environmental benefits along with wider health, economic and wellbeing benefits for everyone who lives and works in Edinburgh”.
69% – fall in Council’s business travel emissions footprint – caused by lockdown.
2.3% – the total increase in household waste tonnage collected by the Council. This is due to citizens spending more time at home during and after national lockdowns.
25,300: The number of average UK household’s annual energy needs which can be covered by the electricity generated from Millerhill Energy from Waste plant.
52,810 – The number of energy efficient streetlights installed in Edinburgh to date (up to Friday 5th November). A further 2,190 lanterns are still set to be installed by the end of the year. NB 9,000 were already energy efficient.
Hot on the heels of COP26, the Scottish Parliament’s Net Zero, Energy & Transport Committee has launched an inquiry that will explore the role of local government and its partners – private and voluntary sectors, social enterprises, and local communities – in both financing and delivering a net-zero Scotland.
MSPs will consider what councils and partners are doing practically to help reach the targets, what skillsets are being used, and what barriers are in their way. They will also probe how councils leverage in capacity and finance from the private sector and look for examples of effective partnership working that is delivering net zero.
The inquiry will focus particularly on the ambitious target of 75% overall reduction in carbon emissions to be met by 2030 (against baselines set in 1990 and 1995).
Speaking as the inquiry was launched, Committee Convener, Dean Lockhart MSP, said: “COP 26 has underlined that government at every level has a role to play in addressing climate change. In Scotland, local government powers span everything from encouraging active travel, to deciding what sort of homes get built in communities, to promoting recycling and a circular economy.
“To get results, local government must partner effectively with business, the voluntary sector and local communities themselves. This is why we want this to be a hands-on inquiry, focusing on the strengths of those relationships and practical steps being taken.
“We need to understand how council budgets are being used to drive action on net zero and how well they are leveraging in skills and private finance. And we need to understand what role the Scottish Government can play to support and – where necessary – to challenge local government to play a full role in the flight against climate change. ”
The Committee has launched a survey looking for views which closes on Friday 21 January 2022.
The Edinburgh Remakery is joining forces with Filmhouse in the fight to eliminate electronic waste across the city.
The two well-loved Edinburgh establishments are working together to provide a simple and convenient way for members of the public to pass on their old IT equipment using a uniquely designed Donation Box.
With COP26 being hosted in Glasgow and with Edinburgh’s ambitious net zero targets, all eyes are on Scotland to take the lead in implementing infrastructural changes to tackle the climate emergency.
More and more Edinburgh-based organisations are taking significant steps not only to reduce their own business carbon emissions, but to make it easier for their patrons and team members to make positive changes.
The Edinburgh Remakery, a social enterprise based in Leith which specialises in waste reduction through repair and reuse, has been taking in end-of-life IT equipment since its origins in 2016.
This partnership with Edinburgh Filmhouse, which is based on Lothian Road, will make it easier for members of the public outwith Leith to drop-off their old electronics for reuse. With Filmhouse being once again open to the public and showing regular film screenings, the cinema is perfectly placed to hold one of the Edinburgh Remakery’s Donation Boxes.
These Donation Boxes have been designed specifically for people to drop in old electronic devices – including laptops, smart phones, and tablets – whilst preventing them from being damaged in the process to ensure as many devices as possible can be repaired and reused. The Donation Box will be conveniently placed in Filmhouse foyer for members of the public to use.
Elaine Brown, CEO of The Edinburgh Remakery said: “Electronics have become somewhat of a disposable commodity in our society, to the point where many of us have old devices lying around that we just don’t know what to do with.
“Electronic waste is also incredibly damaging to the environment, and people can be concerned about the security of their personal data, therefore disposing of old devices safely becomes very problematic. Our donation boxes give people an easy and secure way to pass on their old devices for reuse.
“Not only is it a win for the environment, but it’s also a win for the community as a portion of the donated devices, once repaired, will be gifted to families and individuals across the city who are suffering from digital poverty, social isolation and financial hardship.
“A portion will also be used to train members of our community in valuable IT repair skills, targeting primarily those further from the job market to boost valuable employability skills as well as confidence. Tackling waste and social inequalities in one – a win for people and planet.”
Rehan Yousuf, Community Engagement Manager at Filmhouse said: “Edinburgh Filmhouse is delighted to be in partnership with the Edinburgh Remakery as their first partner in the repurposing project.
“The pandemic has heightened digital poverty, with many people from disadvantaged communities being left behind. We’re aiming to target the challenges of digital exclusion for older people and will be working in tandem with community groups dedicated to overcoming this.
“Whether it’s an old laptop, tablet or mobile lying in a drawer at home somewhere, people can hand it to Filmhouse via the donation box at our Box Office. The devices will then be repurposed by the Edinburgh Remakery, then distributed by the Edinburgh Filmhouse. Members of the public who donate their devices will receive a free cinema ticket.
“With many people receiving new devices for the Christmas season, there’s never been a better time to hand in those that are no longer needed. We’ll put them to very good use!”
Not only will this partnership have a significant positive impact on the environment by reducing electronic waste – the fastest growing waste stream in the UK, and one of the most polluting – but it also benefits the wider community in tackling digital inequalities.
The Edinburgh Remakery has committed to use 25% of the reusable devices that are donated to them in this way to benefit the community, gifting them to disadvantaged individuals are families across Edinburgh who are experiencing financial hardship and need assistance to get online and access essential support services.
To ensure security, The Edinburgh Remakery technicians use a US Government Department of Defence approved algorithm to securely wipe any data from donated equipment to ensure all data is destroyed and is non-retrievable, giving added peace of mind to donors.
The project will be launched in conjunction with the EIFF Youth Eco-Weekender event at Edinburgh Filmhouse. The EIFF Youth Eco Weekender takes place over Saturday 13th and Sunday 14th November and explores the climate crisis on film.
Featuring a selection of curated short films from the Film Access Scotland’s Climate Challenge: 1.5 Degrees Films project, there’s a captioned screening of the classic eco-film The Day After Tomorrow with a BSL-supported introduction from EIFF Young Critics on Saturday.
While on Sunday, a captioned screening of the Gerard Butler action thriller Geostorm will be introduced by EIFF Young Climate Activists and features a Q&A afterwards. Both of which will be BSL-supported. All screenings are priced at £2 to ensure ticket prices aren’t a barrier for attendance to make it as inclusive as possible.
Tickets are available from www.filmhousecinema.com, or can be picked up in person. Alternatives include calling Box Office on 0131 228 2688.
EIFF Youth is funded through the PLACE Programme, a partnership between the Scottish Government through Creative Scotland, the City of Edinburgh Council and the Edinburgh Festivals.
EIFF Young Activists is supported by the Hugh Fraser Foundation.
The EIFF Young Critics programme is supported by James and Morag Anderson.
Creating more town centre homes and local services to help fight climate change
Planning applications will have to show how they help meet Scotland’s ambitious targets to cut emissions to net zero by 2045 to get approval under new proposals.
Applications that create more town centre homes or help reuse vacant and derelict land will be more likely to succeed, under the draft fourth National Planning Framework which has been published for consultation today.
These proposals promote the creation of 20-minute neighbourhoods, where services are easily accessible on foot or by bicycle, across cities and towns. Tighter restrictions will be imposed on out-of-town retail development.
The Framework will support developments which contribute to nature restoration, drive population growth in rural Scotland, create more homes to meet local needs and encourage green investment.
Proposals for renewable energy, including increasing the power of existing wind farms, will be supported by planners – helping make Scotland an energy exporter.
It proposes 18 national developments including:
a national walking, wheeling and cycling network promoting active travel
mass and rapid transit networks for cities to significantly reduce congestion and reliance on the car
sustainable drainage and water management solutions to protect cities from future flood risk
master planned regeneration and investment along the Clyde and waterfronts in Dundee, Edinburgh and Stranraer
supporting transition of key industrial sites to net zero as well as helping to sustain rural and island communities in transitioning to a net zero society
pumped hydroelectric storage, large scale renewable energy generation and investment in the electricity grid.
Planning Minister Tom Arthur said yesterday: “As COP26 delegates debate the future of our planet, we are proudly publishing our new draft National Planning Framework that proposes planners will have to consider the impact of applications on climate change and our natural environment.
“This plan for Scotland in 2045 aims to transform places so more of us live in well-designed and energy efficient homes, located within walking distance of local services and green space, and puts planning at the heart of delivering green, inclusive and long‑term sustainable development.
“This is a turning point for planning in Scotland. Our proposals will help us achieve our just transition to net zero emissions by helping to deliver more renewable energy, protecting our natural environment and creating better, healthier places to live.”
Today’s theme at COP26 is Cities, Regions and the Built Environment.
Fourteen international leaders and leading campaigners are among those who have signed a statement launched by the Scottish Government calling for the role of women and girls to be advanced in addressing climate change.
The Glasgow Women’s Leadership Statement on gender equality and climate change acknowledges the disproportionate impacts of climate change on women and girls. It also celebrates the role of women leaders at all levels in addressing the climate crisis, and commits signatories to increased support for women and girls’ climate action.
Women leaders including New Zealand prime minister Jacinda Ardern, US national climate adviser Gina McCarthy and German federal environment minister Svenja Schulze have signed the statement. Heads of state and government from Bangladesh, Tanzania, Estonia and Iceland, ministers from Belgium and Pakistan, Paris mayor Anne Hidalgo, and civil society leaders have also signed.
On Gender Day at COP26, First Minister Nicola Sturgeon announced further action on tackling the gendered impacts of climate change.
Chairing a panel discussion on women and climate, the First Minister said the Scottish Government will become a Commitment Maker as part of the Feminist Action for Climate Justice global coalition.
The commitment includes:
enabling women and girls to lead a just transition to a green economy
increasing direct access to financing for climate solutions that promote gender equality
building the resilience of women and girls to climate impacts, disaster risks, loss and damage
The First Minister said: “The fantastic response from women leaders since I launched the Glasgow Women’s Leadership Statement last week tells me that there is a huge appetite to centre women and girls in our climate action.I would urge other leaders to sign up so we can enable more women and girls to lead on the solutions we need to address climate impacts and promote gender equality.
“The engagements I have had with women young and old from the global south have made clear how important it is that when we think about climate justice, we also think about equality and how our actions can support women and girls.
“I am pleased to confirm that the Scottish Government will become a Commitment Maker under the Feminist Action for Climate Justice coalition. This is a commitment to bold and transformative action to improve the lives of girls and women, recognising that their empowerment and leadership is essential to ensuring that global efforts to tackle climate change succeed.
“Tackling the climate crisis and delivering a just transition to net zero must go hand in hand – and women and girls must be central to that. The Scottish Government’s just transition plans will amplify the voices of under-represented groups, including women and girls, and actively work to create a better, greener future for everyone.”
Seven towns have been chosen to help tackle the impact of climate change and secure a just transition to net zero.
The Climate Action Towns programme will empower communities to come together and engage in collective climate action, taking account of the unique challenges and opportunities each town faces. That might include looking at what action can be taken on switching to more sustainable food or renewable energy.
Communities in the seven towns will be offered support to find ways of making changes at a local level that will help tackle the crisis, giving them a voice and engaging those that may not have previously engaged in climate action.
The programme will be delivered by design agency Architecture and Design Scotland, with funding of £146,000 from the Scottish Government.
The seven towns chosen are:
Alness, Highlands
Annan, Dumfries & Galloway
Blackburn, West Lothian
Campbeltown, Argyll & Bute
Holytown, North Lanarkshire
Invergordon, Highlands
Stevenston, North Ayrshire
The project will be driven by collaboration between local people and agencies, and their collective vision of what their Climate Action Town looks like. The outcome of the work with the towns will be used to outline learning for climate action on a town scale that can then be applied across Scotland and beyond.
The announcement came during the Scottish Government’s Just Transition themed weekend during COP26.
The start of the process to collaborate and co-design the Scottish Government’s refreshed Energy Strategy was outlined on Friday. It was also announced that Scotland’s first Just Transition Plan, to be published in spring 2022, will be focussed on the energy sector.
The Scottish Government will provide £100,000 to establish a Just Transition Alliance within the Under2 Coalition, a network of more than 200 devolved and local governments driving climate action across the world, so that members can access the resources, support and information necessary to deliver a just transition in cities and towns across the world.
Just Transition Minister Richard Lochhead said: “It is clear that we must decarbonise industry and society in order to mitigate the worst effects of climate change, but we must do so in a way that is fair for everyone and leaves no one behind.
“Scotland was at the forefront of the Industrial Revolution, so we see it as only right that Scotland is at the forefront of this green revolution.
“We have a once-in-a-generation opportunity to make changes in a way that will be good for our people, our communities, our economy and our planet – we must seize it.
“Tackling the climate crisis requires all of us, at every level, to get involved. We can all make a difference. The Climate Action Towns project aims to support and empower communities to have a say on how their local areas should change as part of a fair and just transition to net zero.
“I look forward to seeing how the towns that are taking part rise to the challenge and find ways that will not only make a difference locally but to Scotland and indeed the world.”
Architecture and Design Scotland Chief Executive Jim MacDonald said: “The climate emergency demands urgent action from us all. For Scotland to adapt to the impacts of climate change, we are all going to need to work together to adapt the ways we live, work, play and move in our cities, towns and villages.
“Considering that half of Scotland’s population live in towns, it is vital towns are a key focus in the fight against climate change.”
Chancellor to set out plans for UK to be the world’s first net zero aligned financial centre, calling for other countries to follow suit
Over $130 trillion – 40% of the world’s financial assets – will now be aligned with the climate goals in the Paris Agreement, thanks to climate commitments from financial services firms
New UK climate finance projects funded from the UK’s international climate finance commitment will help developing countries to fund green growth and adapt to the changing climate
The Chancellor will set out the UK’s plans to become the world’s first net zero aligned financial centre and welcome “historic” climate commitments from private companies covering $130 trillion of financial assets as he hosts Finance Day at COP26 today (3 November 2021).
These commitments will help to create a huge pool of cash that could fund our net zero transition, including the move away from coal, the shift to electric cars, and the planting of more trees.
Convening the largest ever meeting of finance leaders on climate change, Rishi Sunak will set out the UK’s “responsibility to lead the way” and unveil a fresh push to decarbonise our world-leading financial centre.
Under the proposals, there will be new requirements for UK financial institutions and listed companies to publish net zero transition plans that detail how they will adapt and decarbonise as the UK moves towards to a net zero economy by 2050.
To guard against greenwashing, a science-based ‘gold standard’ for transition plans will be drawn up by a new Transition Plan Taskforce, composed of industry and academic leaders, regulators, and civil society groups.
In his opening keynote at Finance Day, Mr Sunak will hail the progress made to “rewire the entire global financial system for net zero” under the UK’s leadership of COP and reveal that over $130 trillion – around 40% of the world’s financial assets – is now being aligned with the climate goals in the Paris Agreement, including limiting global warming to 1.5C.
These commitments come from over 450 firms from all parts of the financial industry, based in 45 countries across six continents, and have been delivered through the Glasgow Financial Alliance for Net Zero (GFANZ), which was launched by the UK to harness the power of the financial sector in the transition to net zero.
The UK has also worked as chair of the G7, and in partnership with other G20 countries, to ensure all economic and financial decisions take the risks of climate change into account. The UK has convened over 30 advanced and developing countries from across 6 continents and representing over 70% of global GDP to back the creation of a new global climate reporting standards by the IFRS Foundation to give investors the information they need to fund net zero.
Celebrating this progress, the Chancellor will urge financial firms to “mobilise private finance quickly and at scale” and call on governments to enact bold climate policies to take advantage of these enormous financial resources.
Reiterating the importance the UK COP Presidency has placed on getting finance to the most vulnerable countries, Mr Sunak will also highlight that the $100 billion climate finance target will be met by 2023 and urge developed countries to boost their support to developing countries – including by helping them tap into the trillions of dollars committed to net zero by the private sector.
The UK will seek to address barriers to finance faced by developing countries with a series of new green initiatives funded from its international climate finance (ICF) commitment, including £100 million to respond to recommendations from the UK co-chaired Taskforce on Access to Climate Finance to make it faster and easier for developing countries to access finance for their climate plans.
In total, the UK will spend £576 million on a package of initiatives to mobilise finance into emerging markets and developing economies, including £66 million to expand the UK’s MOBILIST programme, which helps to develop new investment products which can be listed on public markets and attract different types of investors.
And in a further advance towards the $100 billion goal, the Chancellor will announce the launch of an innovative new financing mechanism – the Climate Investment Funds’ Capital Markets Mechanism (CCMM) – that will boost investment into clean energy like solar and wind power in developing countries.
The UK is already the biggest donor to the multilateral Climate Investment Funds, having contributed £2.5 billion, and will now give the returns from its investments (known as reflows) to CCMM. This new fund will use reflows to help it issue green bonds worth billions of pounds in the City of London – the world’s leading green finance centre – and could leverage an extra $30-70 billion from other sources for specific clean energy projects.
Janine Hirt, Chief Executive Officer, Innovate Finance said:“As the voice of UK FinTech, we passionately support the development of the UK as the first net zero aligned financial centre.
“Net Zero transition will be driven by finance and capital markets and it will be enabled by technology and data. As a leading global centre for financial services and for financial technology and innovation, the UK can and should lead the way in rewiring the entire global financial system for net zero.”
Dr Ben Caldecott, Director, UK Centre for Greening Finance and Investment (CGFI) Chief said:“This is huge. The world’s largest international financial centre will become the world’s first net zero-aligned financial centre.
“This is underpinned by world-leading regulation and the economy-wide adoption of net zero transition plans. This will spur demand for green finance and accelerate decarbonisation, not just in the UK but wherever UK firms do business.
“This will make a real difference and means the UK financial services sector will play an even larger role in providing the capital and financial services required to deliver net zero globally.”
“The UK Centre for Greening Finance and Investment is excited to act as the secretariat, together with E3G, for the new Transition Plan Taskforce to develop a ‘gold standard’ for transition plans and associated cutting edge metrics.
“We are the UK’s national centre established to accelerate the adoption and use of climate and environmental data and analytics by financial institutions internationally.”
Julie Page, Chief Executive Officer, AON said:“We welcome and support the Chancellor’s plans for the UK to be the world’s first net zero aligned financial centre.
“All industries have an important role in helping to achieve this goal and through Aon’s own 2030 net-zero commitment, we will contribute to this historical commitment and help lead the way towards a net zero economy.”
Dr Rhian-Mari Thomas OBE, Chief Executive, Green Finance Institute said:“Today marks the day that green finance has reached a point of critical momentum. The amount of capital committed to the transition to net zero has reached unprecedented levels.
“The task before us now is to come together in radical collaboration to unlock investment opportunities at speed and scale so we can channel this wall of capital into real economy outcomes that not only positions the UK as the world’s first net zero financial centre but also delivers a just and resilient net-zero global economy”
Kay Swinburne, Vice Chair of Financial Services, KPMG UK said:“This announcement will provide the financial services industry with a valuable set of unified metrics to measure progress towards decarbonisation and it is brave to put a gold standard in place for all companies raising funding.
“We’re pleased to see the UK lead by example by not only establishing the GFANZ initiative, but also expanding private sector commitments and supporting a science based approach to reporting standards.”
James Alexander, Chief Executive, UK Sustainable Investment and Finance Association (UKSIF) said:“We warmly welcome the Chancellor’s ambition to make the UK the world’s first net-zero aligned financial services centre.
“As the first major economy to legislate to cut emissions to net zero by 2050, this is a natural step in the UK’s climate leadership journey and recognises the central role of the sustainable finance sector in addressing the climate crisis.
“UKSIF and our members look forward to actively engaging in these next steps, particularly helping to build a shared definition of a good quality transition plan and more broadly a net-zero finance sector.
“Government and regulators should work closely with the financial services industry to identify the policies and actions required to progress our sector towards this world-leading ambition.”
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.”
First Minister Nicola Sturgeon will deliver a keynote speech today setting out how COP26 in Glasgow can lead the world into the green revolution.
Ms Sturgeon will call on international leaders to take credible action to limit global temperature increases and to deliver a fair financial package for the global south.
In the week that delegates arrive in Scotland’s largest city, the First Minister addressed an audience of young people and students this morning to argue that the country is uniquely placed to build a bridge between the voices of civil society and world leaders.
The First Minister said that keeping the prospect of limiting global warning to less than 1.5 degrees alive, must be more than a slogan, and that delivering on the long promised £100bn of climate finance is an essential part of ensuring good faith between developed and developing countries.
Setting out further action by the Scottish Government, she added that Scotland will do what it can to contribute to a successful outcome at the Glasgow summit by bringing together member states in the negotiating room with the world’s regions, cities and devolved governments representing almost 2 billion people.
The First Minister said: “We will take seriously the responsibility of all governments – at all levels – to show ambition, and to galvanise action. If we do that, we can all contribute towards a successful summit.
“I have said that small countries can lead the way in this, and they can, but in the coming days, it is the countries which emit the most who most need to step up. They need to make ambitious pledges to achieve net zero. And those pledges must be backed by credible actions.
“The idea of “keeping 1.5 alive”, cannot simply be a face-saving slogan. It must be real. And there must be progress in Glasgow which makes that outcome more likely.”
Speaking about Scotland’s role, she went on: “Scotland is in a unique position to help make COP a success.
“And one of the ways in which we will do that, over the next three weeks, is by acting as a bridge.
“We will use our position, as the venue for COP, to create spaces and dialogues which encourage empathy, promote understanding and help people share perspectives.
“We will encourage national governments to match the ambition of cities, regions and state governments.
“We will help those around the negotiating table to hear from activists in the developed world and from the global South.”
Overwhelming support has been shown across Edinburgh for a net zero, climate resilient capital, according to initial findings from the public consultation on the draft 2030 Climate Strategy.
More than 900 residents and stakeholders shared their views on the draft strategy over the 12-week summer consultation, through a series of online workshops and engagement sessions and the Council’s online survey.
And, as well as supporting the strategy’s aims and vision, citizens broadly welcomed the strategy’s 52 actions – on activities which ranged from engaging and empowering people to tackle climate change to investing in businesses and skills in the capital.
The early findings reveal that respondents not only support what the draft strategy aims to do, but how it proposes to take action and deliver on the city’s goal of net zero greenhouse gas emissions by 2030.
They also show that overall, people felt the Council had received permission to act on climate change and needed to move discussions on climate from ‘whether the city should act’ to ‘how we act together.’
Creating a partnership of financial investment and delivery organisations to develop a business case for how all Edinburgh’s citizens will be able to affordably retrofit their homes in partnership with the Scottish Futures Trust.
Developing an Edinburgh Community Climate Forum to help empower citizens, encourage behaviour change and community activism on climate action. It will be sponsored by the Council and delivered independently by EVOC and Our Future Edinburgh.
Bringing forward business case proposals for community energy generation schemes across the city, with Energy for Edinburgh.
Working with Lothian Buses to decarbonise their bus fleet by 2023 and developing a plan for shared public service charging hubs.
Developing a costed climate change risk assessment for the city and a new city adaptation plan by 2022/23, alongside a regional approach.
Establishing a business led Economic Transition Forum and also a new Business for Good programme through Edinburgh CAN B to provide practical support and training for businesses across the city to transition to net zero.
Developing a citywide programme/pipeline of green investment proposals with a Climate Strategy Investment Programme Board.
Leader of the City of Edinburgh Council Councillor Adam McVey said: “Public and stakeholder response to our draft Climate Strategy has been fantastic and has thoughtfully reflected the complex and systemic nature of climate change.
“Feedback from residents and groups has highlighted the need to give people more information and support on how to make changes to their everyday lives which will support Edinburgh’s climate target, which is why I’m delighted to announce the council will sponsor the establishment of a Community Climate Forum for the city.
“The Forum will help to provide a vital point of interaction and information for and with communities on all aspects of climate action. Meanwhile, city partner responses have been really detailed and positive, with all partners committing to working together in key areas of climate action.
“Many have also committed both resources and in-kind activity as part of the implementation plan and will ensure the Council and our partners will keep up momentum in delivering a net zero, climate ready city by 2030.”
Depute leader Councillor Cammy Day added: “The 2030 Climate Strategy is for the whole of Edinburgh and whilst the Council needs to take a leading role, the purpose of the strategy is to facilitate and unlock collaboration and collective action at speed and scale to deliver a net zero city.
“The pandemic had shown people how quickly and effectively the Council and partners can act on emergency issues. We must now listen to feedback from the consultation and go faster and further in our strategy actions to reflect the climate emergency and meet Edinburgh’s deadline of net zero emissions by 2030.”
The final draft of the 2030 Climate Strategy will be supported by an implementation plan detailing deliverables, milestones, timescales, resources, and approach to measuring outcomes and impact. This will be brought to Committee alongside the final draft of the strategy on 30 November 2021.
