Cop28 Net-zero Exports Close To £70 Million

17th April 2024

Companies which took part in the Scottish Government's first ever business delegation at COP28 say they expect to generate an estimated £66.74 million in net zero export sales over the next three years according to a new report published today.

A total of 19 net zero focussed Scottish companies attended the programme of business activities at the global climate summit in Dubai last year, supported by the First Minister Humza Yousaf and the Cabinet Secretary for Wellbeing Economy and Net Zero Màiri McAllan.

Of these companies, 14 reported forecast export sales of £66.74 million over three years, with three already reporting business won due to their participation. 94% of the delegation also stated they found the programme valuable, with 545 new contacts made.

Net Zero Secretary Màiri McAllan said: "I welcome the findings that the Scottish Government's first ever business delegation at COP28 say they expect to generate over £66 million in net zero export sales over the next three years.

"They helped to showcase Scotland's net zero ambitions on a global stage, in renewable energy and other key areas of interest, and demonstrated that Scotland is best placed to attract vital investment into our net zero industries, particularly in the North East.

"Tackling climate change is an environmental and moral imperative, and if done right it also presents perhaps the biggest socioeconomic opportunity of our generation, with potential for investment, economic growth, and job creation across the country.

“Our attendance at COP28 not only enabled us to share our progress towards a just transition to net-zero which protects jobs, and help lead the way in meaningful dialogue on global climate action, but also allowed us to advance international relations with countries who share our interests and ambitions.“

As well as strengthening economic and investment relationships, the Scottish Government achieved a number of outcomes in relation to tackling climate change, including:

highlighting Scotland’s experience and expertise in renewables when meeting with representatives from other governments including a bilateral meeting with the Prime Minister of Barbados Mia Mottley and the French Minister for Energy Transition, Agnes Pannier- Runacher.

announcing £2 million of additional funding to address loss and damage - helping to maintain the focus on the most vulnerable communities most in need of funding.

demonstrating the importance of delivering climate action at all levels of government, with the First Minister taking part in the Local Climate Action Summit.

Scottish Government costs for participating in COP28 were around £400,000