Growing Scotland's Green Economy

23rd February 2024

Scotland can lead the net zero revolution, using its natural resources, world-class universities and entrepreneurial spirit to build the industries of the future, according to Cabinet Secretary for Wellbeing Economy, Net Zero and Energy Màiri McAllan.

Ms McAllan said the announcement of a £24.5 million grant to secure Japanese company Sumitomo Electric Industries' investment in a new cable factory for the offshore wind sector at Nigg highlighted how net zero went hand-in-hand with economic growth. The plant will create around 330 jobs and bring £350 million inward investment to Scotland.

In her first speech since taking over the new portfolio, the Cabinet Secretary outlined her vision for delivering on the economic opportunities of Scotland’s transition to net zero. And she expressed a commitment to ensuring the key sectors on which Scotland’s economy is currently built continue to grow and thrive.

Addressing business leaders in Edinburgh, Ms McAllan said, "The future of the global economy is green - and I think it's my job and our job collectively to make sure that Scotland can derive the greatest possible benefit from that future. Our Green Industrial Strategy will be a key tool in helping business and investors realise the enormous opportunities ahead.

"While the economic opportunities of net zero are huge, they are far from the only game in town. Today I am announcing a pilot Techscaler hub in Silicon Valley to help promising start ups from Scotland in areas from health technology to space, build contacts with international investors and customers.

“My commitment is to take an approach across the whole of government to actively listen, engage and communicate - to help achieve business success and in turn Scotland’s economic success."