VARIOUS organisations are calling on the Scottish Government to use the implementation of a Scottish National Investment Bank (SNIB) to make the country greener and more equal.

Unison, RSPB Scotland, Sciaf, Common Weal, Engender and Friends of the Earth Scotland have all backed the idea of using the new bank – a key measure announced in this year’s programme for government – to tackle the challenges posed by climate change, as well as promoting inclusivity.

Responding to the month-long public consultation period that closes today, Ric Lander, finance campaigner at Friends of the Earth Scotland, said that the proposed SNIB is timely given that Scotland urgently needs a new source of public investment that can fund the transition away from fossil fuels and towards a low-carbon economy.

“With the right remit, the SNIB can fill this role, creating thousands of green jobs by transforming our transport, heating, housing and electricity,” said Lander.

“It can also remake our economy to benefit everyone with a governance model that represents Scotland’s regions, industrial sectors, civil society and trade unions, and reflects the genders, abilities and ethnic backgrounds of our country.

Lander added that the SNIB presented an opportunity to move away from the current “broken” banking system towards something that can serve the common good, as opposed to private greed. Those words were echoed by Robin McAlpine, director of Common Weal.

“Right across Europe the idea of making investments designed not to make the investor lots of money but to pursue the public good has become a mainstream issue,” said McAlpine.

“This is Scotland’s chance to build an investment bank which works for the collective good and to fix some of the economic and environmental failures we so urgently need to address.”

The Scottish Government said it welcomed the contributions from the various civil society organisations and is currently looking into how the bank can best support the economy and benefit the people of Scotland.

Benny Higgins, CEO of Tesco Bank, has been appointed to develop an Implementation Plan, due to be published early next year.

“The Scottish Government recognises that inclusive growth, built on equality and respect for the environment, is essential,” a spokesperson said.

“The First Minister has also made it clear that the transition to a low-carbon economy presents important economic opportunities for our country, which has a strong track record on research and innovation, as well as outstanding sources of renewable energy.”

The SNIB is not just an opportunity to address growing inequality in terms of rich and poor, according to non-profit organisation Engender, as it can also help improve gender equality.

Emma Ritch, Engender’s executive director, said: “If designed with equality, non-discrimination, and inclusive growth at its heart, the SNIB can support much-needed investment in child and social care, alongside green technologies.

“Climate change is affecting women and men differently, and measures to tackle it must also be gendered. It is vital that the SNIB is developed with an understanding of how it can be used to support Scotland’s work for gender equality, through its governance, its investment criteria, and its measures of success.”