Investing in Scotland’s Green Economy
The result of the division on motion S6M-11945, in the name of Neil Gray, on investing in Scotland’s green economy, as amended, is: For 88, Against 29, Abstentions 1.
Motion agreed to,
That the Parliament considers that a just transition is vital to both tackling the climate emergency and building a strong and sustainable economy; welcomes the growing strength of Scotland’s green economy, with more than 42,000 FTE jobs supported by Scotland’s renewable energy sector, and the recent Climate Emergency Skills Action Plan report that identified almost £90 billion of green investments currently under way or planned to commence in the next three years; agrees that the energy transition and associated supply chain development has the potential to help grow a fair, green wellbeing economy in Scotland; recognises the vital role of public investment in continuing to deliver a just transition to net zero and that the forthcoming Green Industrial Strategy will identify and focus action on the most significant economic opportunities for Scotland; is deeply concerned by the UK Government’s failure to keep pace, with overall capital investment levels in decline; understands that declining levels of investment in the UK are in stark contrast to initiatives to increase public investment elsewhere, such as the Inflation Reduction Act in the USA and the European Green Deal; recognises the limits that this lack of action at the UK level imposes on Scotland, and that in spite of this, £2.7 billion will be invested by the Scottish Government in activities that will have a positive impact on the delivery of its climate change goals in 2024-25; notes that the Climate Change Committee has estimated that 1-2% of GDP needs to be invested in the transition annually until 2050; calls, therefore, on the UK Government to urgently increase green investment to at least £28 billion a year to ensure that Scotland and the rest of the UK can deliver a just transition to net zero; recognises the economic damage and challenges created by the fiscal policy choices of the UK Government, and the impact that this could have on investment in the green economy; notes the Labour Party's Green Prosperity Plan; agrees that a cross-government mission is needed to deliver clean energy by 2030, and acknowledges the economic opportunities that this could create for Scotland.