Renewables provide real returns for investors, says Salmond

Scottish First Minister Alex Salmond has claimed that investing in renewable energy projects would create "real wealth" for Scotland

Establishing a sustainable low carbon economy presents vast investment opportunities for Scotland's financial services industry, Scottish First Minister Alex Salmond has said.


Speaking at Aberdeen Asset Management's conference last week (September 3), Mr Salmond highlighted that investment in renewable energy and low carbon projects would "create real wealth" and not asset inflation. This would benefit the economy and environment, he added.

Mr Salmond claimed that Scotland's has world-leading expertise and experience in financial services and in particular asset management, which could help to fuel the "renewables revolution" by investing in infrastructure.

He said: "Companies such as Aberdeen Asset Management have helped to establish Scotland as a global hub for financial services excellence with the people and infrastructure to deliver success. "Scotland has an outstanding reputation for financial innovation and significant opportunities lie ahead from harnessing investment from developing economies such as China to encourage sustainable economic growth through infrastructure creation, not asset inflation."

He added that creating a sustainable low carbon economy and tackling the global climate change challenge presents "enormous opportunities". "The financial industry can deliver real gains for their investors and our environment by funding the renewables revolution and financing low carbon developments." Later this month, Mr Salmond will open the two-day Scottish Low Carbon Investment Conference in Edinburgh, which aims to bring together leaders from finance, energy and government with investors and developers of low carbon projects to discuss the multi-billion pound opportunities presented by renewable energy and other low carbon developments.

On this event, Mr Salmond said: "The Scottish Low Carbon Investment Conference will take place later this month to explore how we can capitalise on Scotland's rich natural energy resources and financial expertise to deliver a new green economy.

"Global climate change is the most pressing issue of our generation. It is crucial that our business leaders understand both the challenges and opportunities climate change presents so that we can work together to ensure a positive future for our economy, environment and society."

The low carbon economy is a global market, estimated to be worth £3 trillion in 2007-08 and forecast to grow to £4.3 trillion by 2015. The Scottish Government estimates that 60,000 ‘green jobs' could be created by 2020 in low carbon industries and businesses across Scotland (see this NewEnergyFocus.com story).
View the original article here