Chamber and committees

The Bank receives funding through Grant in Aid which it uses to cover operating costs and fund its investments. From launch in November 2020 to the end of March 2023, the Bank received a total of £325m and has invested £304m. The annual breakdown is detailed below. The amount of cash invested in 2023-24 will be confirmed in the Bank’s audited Annual Accounts which will be published in the coming months.

The Scottish National Investment Bank does not consider ‘applications for funding’. Rather, it makes commercial debt and equity investments to deliver on the three Missions set for it by Scottish Ministers. The Bank is operationally independent of Government and the Government does not hold the information sought.

The Scottish National Investment Bank is operationally independent of Government. It makes commercial debt and equity investments to deliver on the three Missions set for it by Scottish Ministers. The Scottish Government will provide the Bank with £174m of budget for investment during 2024-25. Some of that budget will support existing investment commitments with the remainder available for new and follow-on investments.

The Scottish Government recognises the hazard of asbestos and the risks to health that it poses. However, asbestos is only dangerous when disturbed and advice from the Health and Safety Executive is that asbestos should remain in-situ providing it is in “Good” condition and even where damage is minor it should still be encapsulated rather than removed. The Scottish Government does not provide support to public authorities specifically for the removal of asbestos from their buildings as it is their statutory duty under UK Government legislation to manage issues relating to asbestos affecting their estate.

The Scottish Government published the annual Cleaner Air for Scotland 2 progress report on 17 June 2024, providing an update on progress on delivering the actions.

Of the twenty medium term actions, the timeframe for completing three of these actions has been extended beyond 2024. The reasons for this are as follows.

Scottish Government's CivTech Programme, has invested in diverse technologies that include Web 3.0, and has attracted over 90% of its participants from innovative start ups and SMEs, including participants from the USA, India, Finland, Greece, Italy and Spain, many of whom have gone on to set up Scottish bases. The Scottish Government has also provided funding support to the Scottish GovTech Cluster, which aims to support collaboration within the technology sector focused on connecting government agencies, businesses, researchers, academia and all other groups and individuals wishing to use technology (including Web 3.0) to improve and transform public services. The Scottish GovTech Cluster are working to attract investment both from within Scotland and from outside the country matching businesses and researchers with funding opportunities and provide support to help them secure investment.

We invest expert staff time in continuing to advise and support Scottish Enterprise’s work coordinating private sector activity on Web 3.0 technologies, through its Digital Trust Scotland - Blockchain Taskforce. The work of Scottish Enterprise produced a report in May 2023, Blockchain In Scotland Landscape Overview , which demonstrates the comprehensive engagement we have through this Taskforce. Hence, through involvement in the Taskforce, we would expect to have opportunity to provide more support where there are gaps identified that clearly lead to economic impacts.

We recognise that one potential private investment channel available for Web 3.0 companies is digital assets - for example cryptographic utility tokens. Our Financial Services/FinTech team are currently addressing related policy questions around Digital Assets in Scots Private Law. We would expect this work give Web 3.0 businesses in Scotland more legal clarity about such funding mechanisms.

We recognise the pioneering research and private investment in Web 3.0 technologies across Scotland. Nevertheless, our focus in applying digital technologies for Public Service Reform is based on an understanding of end-to-end services and user needs, rather than committing to use particular technologies.

We invest expert staff time in continuing to advise and support Scottish Enterprise’s work coordinating private sector activity on Web 3.0 technologies, through its Digital Trust Scotland - Blockchain Taskforce. The work of Scottish Enterprise produced a report in May 2023, Blockchain In Scotland Landscape Overview , which demonstrates the comprehensive engagement we have through this Taskforce. Hence, through involvement in the Taskforce, we would expect to have opportunity to provide more support where there are gaps identified that clearly lead to economic impacts.

The Scottish Government’s CivTech Programme enables research, development and commercialisation between the public sector, industry, regulators and academia across a broad range of technologies, including Web 3.0 approaches where they are relevant.

Through open innovation challenges delivered by the CivTech programme a range of innovative start ups and SMEs have worked with Public Sector bodies including Scottish Government Departments, Local Authorities and Non Departmental Public Bodies to develop experimental technologies which use Web 3.0 approaches on a range of issues including,

• tracking of Scope 3 Carbon Emissions,

• Building Standards certification processes,

• helping people access support they are entitled to and

• high integrity approaches to Nature Finance.

The CivTech programme has a strong track record in developing innovative technologies to solving challenges faced by the public sector while creating jobs and opportunities for new innovative businesses.

The Scottish Government has also provided funding support to the Scottish GovTech Cluster, which aims to support collaboration within the technology sector focused on connecting government agencies, businesses, researchers, academia and all other groups and individuals wishing to use technology (including Web 3.0) to improve and transform public services. The Scottish GovTech Cluster are working to attract investment both from within Scotland and from outside the country matching businesses and researchers with funding opportunities and provide support to help them secure investment.

We recognise that one potential private investment channel available for Web 3.0 companies is digital assets - for example cryptographic utility tokens. Our Financial Services/FinTech team are currently addressing related policy questions around Digital Assets in Scots Private Law. We would expect this work give Web 3.0 businesses in Scotland more legal clarity about such funding mechanisms.

We recognise the pioneering research and private investment in Web 3.0 technologies across Scotland. Nevertheless, our focus in applying digital technologies for Public Service Reform is based on an understanding of end-to-end services and user needs, rather than committing to use particular technologies.

We invest expert staff time in continuing to advise and support Scottish Enterprise’s work coordinating private sector activity on Web 3.0 technologies, through its Digital Trust Scotland - Blockchain Taskforce. The work of Scottish Enterprise produced a report in May 2023, Blockchain In Scotland Landscape Overview , which demonstrates the comprehensive engagement we have through this Taskforce. Hence, through involvement in the Taskforce, we would expect to have opportunity to provide more support where there are gaps identified that clearly lead to economic impacts.

Scottish Government's CivTech Programme, has invested in diverse technologies that include Web 3.0, and has attracted over 90% of its participants from innovative start ups and SMEs, many of whom have gone on to set up Scottish bases. The Scottish Government has also provided funding support to the Scottish GovTech Cluster, which aims to support collaboration within the technology sector focused on connecting government agencies, businesses, researchers, academia and all other groups and individuals wishing to use technology (including Web 3.0) to improve and transform public services. The Scottish GovTech Cluster are working to attract investment both from within Scotland and from outside the country matching businesses and researchers with funding opportunities and provide support to help them secure investment.

We recognise that one potential private investment channel available for Web 3.0 companies is digital assets - for example cryptographic utility tokens. Our Financial Services/FinTech team are currently addressing related policy questions around Digital Assets in Scots Private Law. We would expect this work give Web 3.0 businesses in Scotland more legal clarity about such funding mechanisms.

The Scottish Government continues to work towards meeting 2013 and 2020 household recycling targets.

To help us meet our targets, the Circular Economy Bill and draft Circular Economy and Waste Route Map set out further measures to improve and modernise local recycling services and drive up reuse and recycling rates.

This Bill also includes a commitment – in line with advice from the Climate Change Committee – to set new circular economy targets from 2025 so they are future proofed, support our work to tackle the climate emergency and help us measure progress in reducing emissions.

The Scottish Government has committed to publishing an update on progress on the Investor Panel recommendations and intends to do this in the coming months. The update will be published on the Scottish Government’s Investor Panel webpage.