Skip to main content

Reports

Mapping Scotland's sustainable finance landscape (1 MB)
Report in HTML

Authors

  • Daryna Kulaga, Logika Group
  • Huzefah Umer, Logika Group
  • Deniz Aycan, Logika Group
  • David Tyrer, Logika Group
  • Maria Chiara Iannino, University of St Andrews
  • Sarah Vella, University of St Andrews

Published

17 June 2026

Contact

Emma Dore
Project Manager - Climate, business and industry
emma.dore@ed.ac.uk
Back to Projects

Mapping Scotland’s sustainable finance landscape

Scotland’s transition to a net zero economy presents a significant investment opportunity for renewable energy, green infrastructure and other sectors. Implementation of this transition is urgent and complex, requiring further mobilisation of private finance alongside public investment.


This report responds to a recommendation of the Scottish Taskforce for Green and Sustainable Financial Services to map Scotland’s green finance landscape. It examines Scottish investment activity since 2020, future investor appetite, green financial service provision, and opportunities and challenges for sustainable finance in Scotland.

Key findings

  • Approximately £9.5 billion has been invested in green infrastructure and sustainable energy in Scotland since 2020.
  • Investment activity has grown steadily but remains concentrated in established sectors such as electricity transmission, renewable energy and battery storage.
  • Financial services firms are supporting the transition through capital allocation, portfolio management, advisory services and climate analytics.
  • Debt is the dominant form of financing, accounting for 56% of the transactions analysed.
  • Evidence suggests strong investor appetite for further green investment in Scotland, particularly in renewables, grid infrastructure and storage.
  • Public financial institutions play an important role in supporting innovation, providing patient capital and crowding in private investment.
  • Industry initiatives, institutions and membership organisations help support project development, market coordination and investment opportunities.

Lessons learned

  • Enhancing revenue certainty and policy clarity could help reduce investment risk, particularly in emerging green sectors.
  • Addressing infrastructure bottlenecks, including grid capacity and permitting processes, will be important to support future investment.
  • Blended finance and risk-sharing mechanisms could help unlock private investment in innovative and early-stage projects.
  • Greater access to mechanisms such as venture capital and growth equity could support innovation and the scaling of new technologies.

Next steps

  • Assess Scotland’s green investment needs and identify potential funding gaps.
  • Explore the barriers and drivers influencing investor decision-making.
  • Examine investment readiness in emerging sectors such as hydrogen, carbon capture and storage, and nature-based solutions.
  • Review whether existing financial products support businesses and projects at different stages of development.
  • Identify opportunities to strengthen sustainable finance expertise within Scotland’s financial services ecosystem.

For further information, please read the full report.

If you require the report in an alternative format, such as a Word document, please contact info@climatexchange.org.uk or 0131 651 4783.

Publications