Initiative aims to boost investment in net zero plans – Daily Business

A group of key finance industry leaders have come together to help stimulate investment into clean power and infrastructure projects.

Transition Finance Scotland (TFS) is working in partnership with the Green Finance Institute (GFI).

They are focusing on investible opportunities in areas such as the built environment, carbon capture & storage and floating offshore wind.

TFS intends to work closely with both the UK and Scottish governments – as well as investment vehicles such as GB Energy and the Scottish National Investment Bank – to help companies and projects secure investment.

TFS will be formally launched in Edinburgh on 19 June and is chaired by financial services stalwart Graeme Jones, the former chief executive of Scottish Financial Enterprise.

The creation of TFS has been driven forward on a pro bono basis by Edinburgh-headquartered management consultancy Alba Partners, together with law firm Pinsent Masons.

Mr Jones said: “Transition Finance Scotland brings together two of Scotland’s most valuable sectors – energy and finance – to help deliver significant new investment in net zero projects.

“The scale of the challenge is significant, but so is the opportunity – not only to help accelerate the energy transition, but also to create jobs and economic growth across Scotland.”

Green Finance Institute chief executive Dr Rhian-Mari Thomas said: “The GFI is a now a global business and we are keen to work in geographies where we can make an impact.

“Scotland is uniquely positioned as a key player in the transition, with world class financial services alongside legacy energy infrastructure and renewables.

“We look forward to deploying our expertise and approach, partnering with key Scottish and global investors to unlock private capital at scale.”

CBI infrastructure group

The CBI has spearheading a working group to support the Scottish and UK governments build key infrastructure. 

Hazel Gulliver, director of engagement at ScottishPower, will chair the group, which met for the first time earlier this month. 

“While there are several initiatives at the UK level, such as the Planning and Infrastructure Bill and the 10-year National Infrastructure Strategy, which will impact businesses in Scotland, there are also levers within Scotland, particularly in relation to the planning system, that can help us deliver what we need more quickly,” she said.

The group comprises Scottish Land & Estates, Port of Tilbury London, ScottishPower, Gupta Partnership, Scottish Renewables, AGS Airport, Equinor, Diageo, AtkinsRealis, Mott MacDonald, CMS UK Nabarro and Olswang, JLL, Centrica and Forth Ports.