New task force will help Scotland become a ‘green global leader’

A new task force has been set up to transition Scotland to a global leader for Green and Sustainable Financial Services. 

Chaired by David Pitt-Watson, a leading practitioner of responsible finance, the group will bring together the Scottish financial sector, professional services firms, and regulatory bodies.

Over the next three years, the Taskforce – managed by the Global Ethical Finance Initiative (GEFI) – will develop and lead an action plan to build on Scotland’s existing strengths, helping build capability and capacity, and create new greener jobs.

Finance Secretary Kate Forbes said: ‘I am looking forward to working with the task force to identify the next steps to develop Scotland into a leading hub for green and sustainable financial services.

‘Following on from the success of Glasgow hosting COP26, this is another example of the Scottish Government’s ambition to reach Net-Zero – and leverage all the economic opportunities the transition presents – as quickly as possible. This taskforce will provide global leadership by implementing the Glasgow Financial Alliance for Net-Zero in a way that supports our hugely successful financial service industry.

‘This week I will publish the Scottish Government’s 10 year national strategy for economic transformation and a cornerstone of that strategy will be to ensure we are taking action now to build greener, more resilient and fairer economies. Initiatives like this will be key in delivering those ambitions.’

UN Special Envoy for Climate Action and Finance Mark Carney added: ‘As we emerge from COP26 the focus must now be on converting net-zero commitments into transparent action plans with robust targets. That is why as Chair of the Glasgow Financial Alliance for Net Zero, I welcome the launch of this new Taskforce. It presents a unique opportunity, at the national level, for stakeholders active in one of the world’s oldest financial centres to work together to demonstrate leadership in defining and implementing the steps required to align with a net-zero future.’