Scotland’s new public bank must be an ethical lender, environmental campaigners have said.
Friends of the Earth Scotland said that the Scottish National Investment Bank, which will invest in companies and infrastructure projects, should be set up with minimum ethical standards so that it does not invest in “damaging” projects such as fossil fuels.
MSPs are preparing to vote today on legislation that would grant the powers for the bank to be set up as a public limited company.
Last year the government declared a climate emergency, pledging to reduce emissions by 75 per cent by 2030, and to net-zero by 2045.
Ric Lander, of the environmental group, said that ruling out investments in fossil fuels would send a clear signal of Scotland’s commitment
