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All Official Reports of meetings in the Debating Chamber of the Scottish Parliament.
All Official Reports of public meetings of committees.
Displaying 3032 contributions
Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
Good morning, and welcome to the eighth meeting in 2023 of the Economy and Fair Work Committee. Apologies have been received from Claire Baker, Maggie Chapman and Colin Smyth.
Our first item of business is the fourth evidence session of our inquiry into a just transition for the Grangemouth area. Today’s session will focus on how innovation and just transition can be supported by partnership working across national bodies. I welcome Derek Shaw, director of innovation and place at Scottish Enterprise. From the Scottish National Investment Bank, I welcome Mark Munro, interim head of investment origination, and David Ritchie, executive director for partnerships and engagement. As always, I ask members and witnesses to keep their questions and answers as concise as possible.
My first question is straightforward. How do the Scottish National Investment Bank and Scottish Enterprise support the decarbonisation of industry in Scotland, particularly in Grangemouth? What constraints and barriers do you face? Derek, please start off on that.
Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
You mentioned carbon capture, which is a hugely expensive and as yet slightly untried technology. What sort of investment are you putting into that?
Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
I also asked about constraints and barriers. Where do you perceive those to be?
Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
One of the discussions that we have had over time around this table has been the definition of a just transition. Your quotation is virtually the Scottish Government’s interpretation of it, which is fine, but how do you, as a bank, define that and make it part of what you are doing? Just transition means different things to different people, as we have found. How do you weave it into your investment decisions?
09:45Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
Oh, just pick one.
Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
I am not sure that I like the term “de-risk”. It makes it sound as though a proposition carries no risk, whereas, in effect, we are transferring a degree of the risk to the public sector. Perhaps we should find another term.
If members have no more questions for the panel, that brings us to the end of the evidence session. I thank the panel members for attending and for giving their time.
10:52 Meeting continued in private until 11:05.Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
Mark, would you like to add anything?
Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
Thank you. I will move on to questions from other members.
Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
You have described that you are already in discussion with a number of companies there. Obviously, we do not know what stage that discussion is at. Presumably, part of it will be to find a way in which to draw additional capital and investment into that area.
Economy and Fair Work Committee
Meeting date: 15 March 2023
Colin Beattie
So that is an active consideration along with what you are doing?