Deliver climate-friendly economic policy
Prepare a new Economic Strategy to deliver on Scotland’s legal climate change targets.
Scotland’s Economic Strategy is not directing sufficient investment into the Just Transition to a zero-carbon economy to meet the targets in the Climate Change Act. The climate and nature emergencies require that the objectives and priorities of economic policy are changed. The move towards a circular economy, exit from the EU and aspirations towards a Wellbeing Economy give further cause for a revision of the way in which economic development is managed.
Therefore, a new Economic Strategy is needed which must deliver this Just Transition, effectively combining environmental and social objectives. An integrated industrial strategy would tackle climate change, ensure energy security, and create well paid jobs, including through investment in quality social infrastructure, including care, essential to supporting the economy – as imagined in this STUC/SWBG article. The economic and industrial strategies should chart the path to a decarbonised economy with lower resource footprints which will reduce social inequalities and protect biodiversity. And it will need to make sure Scotland can adapt to the changing climate in a fair and equitable way.
A requirement should be introduced in annual budgets to evidence the proportion of committed spend which could be defined as ‘in the benefit of future generations.’ (See also Sustainable Wealth Fund policy).
When this is done, it should present a vision of a country which emits no net greenhouse gases, strives for the wellbeing of all its citizens and ceases to damage its environment, and a clear route map to get to that point.
For further information:
- Financing Climate Justice, SCCS, 2022, https://www.stopclimatechaos.scot/wp-content/uploads/2022/09/ FinancingClimateJustice_Report_ONLINE.pdf
- See also policy on the ‘Wellbeing and Sustainable Development Act’ in the Cross-Cutting Policies chapter.
