NICOLA Sturgeon has established an Investor Panel in a bid to secure Scotland's role as a major hub for "green and ethical" finance.
The First Minister will co-chair the panel of investors and asset managers which will advise on how to attract global capital investment to lay the foundations for the "physical infrastructure required for a just transition".
Angus MacPherson, CEO at Noble & Company, will serve as the FM’s co-chair, with six additional members confirmed so far. The first meeting will be held on December 12.
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The group’s remit includes offshore wind, decarbonisation of transport, and hydrogen and will provide “market intelligence” in current and future green investment opportunities.
The FM, speaking at TheCityUK’s annual conference in Edinburgh, said: “Securing capital investment from sources within Scotland, across the UK, and right around the world is fundamental to enabling us to achieve our wider ambitions for the economy.
“Tackling the climate crisis is both a moral obligation and an economic opportunity. We have the chance to establish Scotland as a major centre for green and ethical finance, while helping Scotland - and perhaps also the wider world - to move to net zero.”
Sturgeon added that the panel demonstrates the Scottish Government’s “determination to work with the investor community”.
She added: “We know how crucial it is to support sustainable growth and we want to use insights and expertise from the sector as we recover from the pandemic, get through the cost of living crisis, and ensure a just and rapid transition to net zero."
MacPherson said he was “delighted” to take on the role of co-chair, adding: “There is a clear and compelling case for the private and public sectors to work together to address the global challenges we face, particularly on the need to transition to net zero.
“I look forward to working with the First Minister and panel members to explore how we can attract mobile capital investment, maximise current and future growth opportunities and help deliver a just transition to net zero.”
Miles Celic, chief executive officer at TheCityUK, said that Scotland’s financial industries have “always had innovation at its core”.
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He added: “It has long played an important role in driving growth and opportunity here at home and around the world.
“To build on this success and unlock the investment needed to fund critical projects for a Net-Zero future in Scotland and beyond, a close partnership between government, industry and regulators is essential.”
While the rest of the panel’s membership is due to be announced, six additional members have been confirmed.
They are Andrew Telfer, of investment management firm Baillie Gifford, Alexandra Basirov, Bank of America managing director, Gavin Templeton, formerly head of sustainable finance at UK Green Investment Group, Shane Corstorphine, former finance chief at Skyscanner, and Baroness Margaret Ford, chair of Deloitte UK Audit Governance Board.
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