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Scotland commits $26M for low-carbon economy

Scottish government looking to energy sector in potential post-EU economy.

By Daniel J. Graeber
Scotland commits $26M for low-carbon economy
Scotland aims to fund demonstration projects that can further advance the low-carbon economy as ministers plot a Brexit economic strategy. UPI/Stephen Shaver | License Photo

EDINBURGH, Scotland, July 11 (UPI) -- The Scottish government said it was making millions of dollars in funding available to help boost small-scale infrastructure that supports a low-carbon economy.

Nearly $26 million is available, provided it represents no more than half the total capital value, for small-scale demonstration projects aimed at advancing a low-carbon economy in Scotland.

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"The Scottish government is committed to growing Scotland's low carbon economy, creating jobs and delivering on climate change ambitions," Economic Secretary Keith Brown said in a statement.

The government estimates the low-carbon economy, one aimed at lowering emissions, and renewable energy sector employed more than 21,000 people and had a market value of $7.3 billion last year.

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The Scottish government said it would work to keep economic momentum moving forward after last month's British vote to leave the European Union. Brown last week said the energy sector in particular was a focal point of economic durability, but stressed it was London that held much of the influence when it comes to taxation and related matters.

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Scottish Finance Minister Derek Mackay scheduled meetings this week with his Welsh and Northern Irish counterparts to review their revenue options in the wake of the so-called Brexit. From the Scottish perspective, Mackay said there are strong reasons why remaining in the EU is in the region's best interest.

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"I am deeply concerned about the impact the Brexit vote could have on Scotland," he said in a statement.

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The Scottish government said after the Brexit vote it would consider a second referendum on independence.

More than half of the voters taking part in the first Scottish referendum for independence from the United Kingdom said "no" in September 2014. At the time, the Scottish government said it would rely on revenue from oil and gas to power an economy fueled by renewable energy resources.

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