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Scotland to be global HQ for ethical finance

 

Bold claim ahead of conference

Scotland can be a global centre for ethical finance, Nicola Sturgeon has claimed.

The first minister will pitch the claim at Ethical Finance 2019 hosted by the Scotland-based Global Ethical Finance Initiative.

The event on 8-9 October will bring together over 300 senior representatives from more than 200 companies and organisations.

Ethical finance in the UK is valued at around £40billion, creating thousands of sustainable job opportunities.

Nicola Sturgeon said Scotland’s approach to economic growth is centred on making sure that it is inclusive, sustainable and fair.

She added: “Those same values are at the core of the global discussion on ethical finance, a discussion that has a natural home in Edinburgh the heart of Scotland’s thriving financial sector, with a long history and global reputation for innovation.

“Ethical Finance 2019 will bring financial leaders together to demonstrate the vital role finance will play in addressing the most pressing global challenges and creating positive change – and I look forward to taking part.”

Scotland has a long history of social enterprise with a growing reputation in ethical finance. Organiser say that as a world leader in climate change, the country has an opportunity to build on this when Glasgow hosts the UN’s climate change summit, COP26, in 2020.

Omar Shaikh, managing director of GEFI, said: “Scotland has been a pioneer in financial innovation and the development of professional standards.

“The failure of trickle-down economics to fairly distribute wealth and encourage inclusive growth, the damaging impact on the planet of the unchecked pursuit of profit, and the banking scandals of the past decade means that ethical finance has never been more popular or needed.

“At this global summit we will explore how to create a better holistic system of financial management that delivers both profit and social returns, and positions Scotland as the global HQ of ethical finance.”

 

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