Companies which took part in the Scottish government’s first ever business delegation at COP28 say they expect to generate an estimated £66.74 million in net zero export sales over the next three years, according to a new report published on Tuesday (April 16).

A total of 19 net zero focused companies attended the programme of business activities at the global climate summit in Dubai, which was supported by First Minister, Humza Yousaf and the cabinet secretary for Wellbeing Economy and Net Zero, Màiri McAllan.

McAllan said:

“Tackling climate change is an environmental and moral imperative, and if done right, it also presents perhaps the biggest socioeconomic opportunity of our generation, with potential for investment, economic growth, and job creation across the country."

14 companies reported forecast export sales of £66.74 million over three years, with three already reporting wins due to their participation. 94% of the delegation also stated it found the programme valuable, with 545 new contacts made.

Net zero

As well as strengthening economic and investment relationships, the Scottish government achieved a number of outcomes in relation to tackling climate change, including:

Highlighting Scotland’s experience and expertise in renewables when meeting with representatives from other governments including a bilateral meeting with the Prime Minister of Barbados, Mia Mottley and the French Minister for Energy Transition, Agnés Pannier-Runacher;
Announcing £2 million of additional funding to address loss and damage - helping to maintain the focus on the most vulnerable communities most in need of funding;
Demonstrating the importance of delivering climate action at all levels of government, with the first minister taking part in the Local Climate Action Summit.

McAllan added that tackling climate change is an environmental imperative, and if done right it also presents the biggest socio-economic opportunity of this generation with potential for, economic growth, and job creation.

The net zero attendance at COP28 enabled it to share its progress in leading the way on global climate action, but it also allowed net zero to advance international relations with countries who share the same ambitions.