Firms urged to seize energy-saving business opportunities in Scotland
The recently passed Scottish Climate Change Act has the potential to create lucrative energy-saving business opportunities but companies have to seize the chances, it has been stated.
Writing in the Scotsman, Gordon McCreath of law firm Pinsent Masons has argued that the bill, which commits Scotland to ambitious carbon reduction targets, has some incentives for business.
Ministers have been granted the power to put in place lower rates for energy-efficient business facilities, he stated, adding that some of the green requirements can also help companies become more profitable.
Lucrative business opportunities exist in suggested measures such as investing in renewable energy and low-carbon technologies, carbon capture and storage, energy efficiency and even distribution services and transport.
Scotland is already benefitting from ever increasing low carbon economy opportunities, which were worth £8.5 billion in 2007 and created over 70,000 jobs, highlighted Mr McCreath.
The sector is estimated to have expanded at a rate twice as high as the Scottish economy as a whole after registering a 5.1 per cent growth in 2007-8.
