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Seòmar agus comataidhean

Official Report: search what was said in Parliament

The Official Report is a written record of public meetings of the Parliament and committees.  

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Dates of parliamentary sessions
  1. Session 1: 12 May 1999 to 31 March 2003
  2. Session 2: 7 May 2003 to 2 April 2007
  3. Session 3: 9 May 2007 to 22 March 2011
  4. Session 4: 11 May 2011 to 23 March 2016
  5. Session 5: 12 May 2016 to 4 May 2021
  6. Current session: 13 May 2021 to 15 February 2026
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Displaying 2953 contributions

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Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 22 March 2023

Colin Beattie

Ben Howarth, can I bring you in here?

Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 22 March 2023

Colin Beattie

Yes, Ben.

Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 22 March 2023

Colin Beattie

What about policy makers? Is there anything that they could or should be doing to facilitate this?

Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 22 March 2023

Colin Beattie

My question, like everybody else’s, is about money. Money is the key to everything in this. In previous sessions, this committee has heard that there are substantial amounts and increasing volumes of private capital available to invest in the transition. In last week’s evidence, however, we heard that the overall cost of financing the transition was a major barrier, which seems a little bit out of step. What are the barriers to matching the supposed supply of private capital with the demand in the market?

On a slightly separate matter, what can policy makers do to support that? I ask Heather Buchanan to comment first.

Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 22 March 2023

Colin Beattie

You have touched on a few bits around this, but is the volume of private capital the type of capital that is willing to invest in the long term? Is it maybe even patient capital? Some of the up-and-coming industries that will support us in the future are still developing and are still years away from reaching a point where they are going to be making the contribution we hope for. Is it the wrong kind of capital that is sitting there waiting?

Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 15 March 2023

Colin Beattie

David, would you like to comment on that?

Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 15 March 2023

Colin Beattie

Yes, as an example.

Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 15 March 2023

Colin Beattie

Perhaps leading on from what Graham Simpson was talking about, we are talking very much about public sector investment into the Grangemouth area. How is that being leveraged to attract in private investment on the back of that or in partnership with it? Mark, are you the best person to respond on that one?

Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 15 March 2023

Colin Beattie

The Scottish National Investment Bank has three missions that guide investment decisions. Importantly, one of them is about supporting a just transition to net zero. Can you talk me through your approach to the allocation of resources and investment decisions on that? How do you scrutinise a project, and how do you satisfy yourself that it will support a just transition? What is your understanding of “just” in a just transition? David, I will come to you first, or is it Mark?

Economy and Fair Work Committee

Just Transition (Grangemouth Area)

Meeting date: 15 March 2023

Colin Beattie

Derek, what about you?