The Scottish Government has announced it will be a campaign partner for the ‘Path to COP26’ campaign to demonstrate to the world that Scotland is playing a leading role in the shift towards more environmentally responsible and sustainable finance.

With a global footprint and Scottish roots, the Global Ethical Finance Initiative (GEFI) is leading the campaign which has united major financial services institutions representing over £2 trillion in assets to help build more resilient economies which support the transition to a greener, net-zero planet.

The finance sector needs to act together to achieve decisive action at COP26, the most important climate summit since Paris, and the campaign will deliver a series of over 30 events and projects leading up to COP26 in Glasgow in November.

This includes Ethical Finance 2021, a flagship global summit to be convened virtually from Scotland in June, with confirmed speakers including a former COP President, head of the UN Environment Programme and CEOs and financial services leaders from four continents.

Held in conjunction with the Scottish Government and the United Nations Development Programme (UNDP), the summit will explore the long-term future of ethical finance, looking at the climate finance challenge, financing the UN’s Sustainable Development Goals (SDGs) and leadership in finance for the challenges ahead.

NatWest Group is the host partner, and the global event is supported by Chartered Banker and the Chartered Institute for Securities & Investment. Confirmed speakers include Manuel Pulgar-Vidal, Climate and Energy Global Practice Leader at WWF, COP20 President and a former Peruvian environment minister, Inger Andersen, executive director of the UN Environment Programme and David Pitt-Watson who co-chaired the finance discussions at the Paris climate summit.

The announcement comes after the Scottish Government yesterday unveiled its global capital investment plan, which aims to build a pipeline of ESG-ready (environmental, social and governance) projects that deliver for people and places in Scotland.

Ivan McKee, Minister for Trade, Innovation and Public Finance, said:

“The Scottish Government is delighted to further strengthen its relationship with the Global Ethical Finance Initiative.

“By providing support for a series of events on the road to COP26 showcasing Scotland’s investment opportunities, GEFI will help signal to the world that Scotland is leading the global movement towards investment which is socially and environmentally responsible.

“Scotland is already in a strong position in attracting ethical investment and GEFI, along with Scotland’s outstanding financial sector, is paving the way in this developing field of green finance.

“Our global capital investment plan reemphasises our commitment to Net Zero and a wellbeing economy, and we will continue to work with partners and investors who share our values as a nation, making Scotland the destination of choice for ESG investment.”

Omar Shaikh, co-founder of GEFI, said:

“We welcome the Scottish Government’s support for the Path to COP26 campaign. The flagship summit at the heart of this, Ethical Finance 2021, will be a crucial milestone for the finance industry ahead of COP26.

“We’ll be convening leading professionals from across finance, from banking, to asset management, to asset owners, so that we drive further action ahead of the UN summit in Glasgow in November.

“It’s time to move from talk to action.

“We have been working with Scottish Government, the UN and global financial institutions to position Scotland as a leader in ethical, sustainable finance to attract the global capital needed to support a successful and fair transition.”