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Scottish government unveils plans for £3B of new green investment

The Scottish government has launched plans for £3 billion of new investment in green projects under its program for government for 2019-2020.

The Green Investment Portfolio, or GIP, aims to realize a series of low-carbon projects over the next three years in a diverse range of sectors, including renewables, waste, construction, transport, housing and hydrogen.

The Scottish government — in partnership with other public institutions including Scottish Enterprise, the Scottish National Investment Bank, Scottish Futures Trust and the Scottish Environment Protection Agency — will tender projects in November.

Additionally, the program for government will aim to mobilize some £11 billion of annual public procurement to support Scotland's response to climate change.

"It is pleasing to see the Scottish government put the climate emergency at the heart of its program, particularly with welcome new commitments to a Heat Networks Bill and plans to phase out gas in new homes from 2024," Morag Watson, director of policy at trade association Scottish Renewables, said in a Sept. 3 Scottish Housing News article. The Climate Emergency Response Group also welcomed the Scottish government's response, the news outlet reported.

The Scottish government said it intends to publish an offshore wind policy statement to outline Scotland's ambitions for the wind industry.

"The measures outlined in the program for government aimed at supporting Scotland's renewable electricity sector are welcome, but Scotland's renewable energy industry will only be able to rise to the challenge if government regulation and support is consistent with the needs of the climate emergency," Watson said.

Elsewhere, the government will also launch a Scottish Low Carbon Heat Funding Invitation through its Low Carbon Innovation Fund, with support of £30 million for renewable heat projects. This initiative will be boosted by the introduction of the Heat Networks Bill later this year, designed to enable the development of district and communal heating infrastructure in Scotland.

The Scottish government plans to decarbonize passenger rail services by 2035 and flights within Scotland by 2040; Scottish Water will become a zero-carbon user of electricity by 2040; and the government will make a further £17 million available for zero interest loans to support the purchase of ultra-low emission vehicles.