Scottish National Investment Bank Bill Stage One Briefing

Friends of the Earth Scotland (FoES) welcomes the Scottish National Investment Bank Bill, and encourages MSPs to support the Bill – on the condition of changes being made to ensure the mission of responding to the climate emergency is enshrined in the Bank’s founding legislation.

We believe the SNIB has the potential to significantly contribute to tackling a number of public policy objectives. Primarily, the SNIB can play a key role in financing the Just Transition to a zero-carbon economy, while tackling inequality and setting an example of lending for public good with world-leading ethical standards, governance and transparency.

The SNIB Bill should:

• have a top-level objective to finance a Just Transition to a zero-carbon economy – currently absent from the Bill as presented;
• ensure the Bank lends ethically, does no harm, and delivers public policy outcomes such as health, biodiversity, equality and human rights.