The Scottish government has launched plans for a new £3bn Green Investment Portfolio (GIP) as part of its 2019 programme for government.
The GIP aims to bring to market over the next three years low-carbon projects that are ready for green finance investment.
Projects will include the renewables, waste, construction industries and could expand to other sectors such as transport, housing and hydrogen.
The Scottish government will make a public call for projects in November in partnership with public bodies including Scottish Enterprise, the Scottish National Investment Bank and others.
Holyrood said it will leverage the private sector “to originate and structure a pipeline of projects and promote it globally”.
The GIP is part of a ‘Scottish Green Deal’ that also includes a so-called Green Growth Accelerator to attract green finance to Scotland.
In addition, the 2019 programme for government pledges to mobilise £11bn of annual public procurement to support Scotland’s climate emergency response.
The measures will include consulting on legislation to require public bodies to set out how they will meet Scottish climate change and circular economy obligations.
First Minister Nicola Sturgeon (pictured) said: “These measures cut across all parts of government but they are by no means the final word – instead they should be seen as a down-payment on our commitment to ensure that Scotland ends its contribution to global climate change by 2045 at the latest.”
The programme for government outlines policies that Holyrood will introduce between now and the Scottish election in 2021.
Scottish Renewables policy director Morag Watson said the green plans offered a “boost” to the country’s renewable energy industry.
“The measures…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,” she added.
The government will meanwhile publish an “Offshore Wind Policy Statement” to outline its ambitions for the sector and the steps that “we will take to secure as much development and economic benefit as possible”.
Holyrood will also publish an offshore wind decommissioning plan and a draft sectoral offshore wind document by the year-end.