Alex Salmond says renewables will help beat the recession

Published on Friday 3 September 2010 17:48

Investment in renewable energy and low carbon projects will help Scotland get out of the economic downturn, First Minister Alex Salmond has claimed.

He also said Scotland's world-leading expertise and experience in financial services could help to fuel "green" growth during a speech in Aberdeen.

The global low carbon economy was worth 3 billion in 2007/08 and is forecast to grow to 4.3 trillion by 2015. An estimated 60,000 green jobs could be created by 2020 in low carbon industries and businesses across Scotland.

Mr Salmond said: "Scotland has an outstanding reputation for financial innovation and significant opportunities lie ahead from harnessing investment from developing economies such as China.

"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 the First Minister will open the two-day Scottish Low Carbon Investment Conference in Edinburgh.

This aims to bring together leaders from finance, energy and government with investors and developers of low carbon projects to examine ways of capitalising on Scotland's natural energy resources and financial expertise to deliver a new green economy.

Mr Salmond added: "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."