Friends of the Earth Scotland welcomes the principle of a Scottish National Investment Bank, but have repeatedly encouraged MSPs to strengthen the Bill at stage two to enable the bank to reach its full potential.
With the correct amendments, the SNIB can play a key role in financing a just transition to a zero-carbon economy, while tackling inequality and setting a leading example of lending for public good, with world-leading ethical standards, governance, and transparency.
The Bill must be improved to:
- Have a robust legislative commitment to finance a just transition
- Ensure that all of the Bank’s activities meet high ethical standards
- Allow strict parliamentary scrutiny of top level mission setting
This briefing sets out the amendments that would achieve these objectives.