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Future Economy Scotland @futureeconscot.bsky.social · 16m

We were delighted to join today’s #TaxJusticeScotland conference

Tax reform is central to creating a fairer and greener Scotland. As the election approaches, it’s critical we don’t shy away from bold reforms

oxfamscotland.bsky.social @oxfamscotland.bsky.social · 6h

'We cannot sit back and hope that the UK Government lines Scotland's pockets with cash' Laurie from @futureeconscot.bsky.social tells the #TaxJusticeScotland conference as he lays out some of the tax levers within the Scottish Government's gift.

Laurie from Future Economy Scotland speaking at a podium at Tax Justice Scotland's conference

Future Economy Scotland @futureeconscot.bsky.social · 1d

Visit us on LinkedIn to read more about what to expect:
www.linkedin.com/feed/update/...

Future Economy Scotland @futureeconscot.bsky.social · 1d

Join us at SNP Conference!

Funding Scotland’s Future: Where Next for the Public Finances?

🗓️ Sunday 12th October
🕘 9:15-10:15am
☕️ Food & refreshments!

With:
@shonarobison.bsky.social MSP
David Phillips @theifs.bsky.social
Sara Cowan @swbg.bsky.social
Chair: FES Co-Director @lmacfarlane.bsky.social

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Future Economy Scotland @futureeconscot.bsky.social · 2d

Read exclusive coverage of the work in the @dailyrecord.co.uk 👇

www.dailyrecord.co.uk/news/politic...

Scotland 'squandering' profits made by wind farms as foreign developers cash-in

EXCLUSIVE: Only four of the 29 parent companies involved in ScotWind are headquartered in the UK.

www.dailyrecord.co.uk

Future Economy Scotland @futureeconscot.bsky.social · 2d

Rethinking ScotWind: Maximising Scotland's Offshore Wind Potential.

Read the full report by @lmacfarlane.bsky.social 👇

📖 www.futureeconomy.scot/publications...

Rethinking ScotWind: Maximising Scotland’s Offshore Wind Potential

Reforming the leasing process to secure a better deal for taxpayers, workers and supply chains.

www.futureeconomy.scot

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Future Economy Scotland @futureeconscot.bsky.social · 2d

For a better ScotWind deal for workers, taxpayers and supply chains, we recommend:

📈 Scrap price ceilings to maximise revenue
✊Take public equity stakes to share profits
🏴󠁧󠁢󠁳󠁣󠁴󠁿 Stronger incentives for Scottish supply chains
✅ Make Fair Work criteria mandatory

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Future Economy Scotland @futureeconscot.bsky.social · 2d

The paper reveals who owns the 20 ScotWind projects – and who stands to benefit.

Spoiler alert: it's not the people of Scotland.

Explore the data with our interactive map (with
@cmmonwealth.bsky.social )
🧵 x.com/FutureEconSc...

Future Economy Scotland on X: "🏴󠁧󠁢󠁳󠁣󠁴󠁿 Who owns Scotland's offshore wind assets? Our new interactive map with @Cmmonwealth lets you explore who really owns ScotWind projects – and who stands to benefit Highlights in 🧵 Explore the map 👉 https://t.co/4ofFiCazFu https://t.co/wPHEsQoDxq" / X

🏴󠁧󠁢󠁳󠁣󠁴󠁿 Who owns Scotland's offshore wind assets? Our new interactive map with @Cmmonwealth lets you explore who really owns ScotWind projects – and who stands to benefit Highlights in 🧵 Explore the map 👉 https://t.co/4ofFiCazFu https://t.co/wPHEsQoDxq

x.com

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Future Economy Scotland @futureeconscot.bsky.social · 2d

In 2022, the ScotWind leasing round awarded rights for 20 new offshore wind projects.

Our analysis found 4 key flaws with the process:

❌ Constrained public revenue
❌ Weak incentives for Scottish supply chains
❌ No Fair Work requirements
❌ Weak fines for non-compliance

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Future Economy Scotland @futureeconscot.bsky.social · 2d

🚨 NEW REPORT: ‘Rethinking ScotWind’

Scotland has some of the world’s best offshore wind resources.

But who really stands to benefit from our offshore boom?

Our new report argues that we need a better deal for taxpayers, workers and supply chains.🧵

⬇️ www.futureeconomy.scot/publications...

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Future Economy Scotland @futureeconscot.bsky.social · 3d

“The Scottish Government must take public equity stakes in offshore wind to ensure our people share in the benefits of our resources."

Read exclusive coverage of our new ‘Who Owns ScotWind?’ data with @cmmonwealth.bsky.social in the Daily Record:

Scotland 'squandering' profits made by wind farms as foreign developers cash-in

EXCLUSIVE: Only four of the 29 parent companies involved in ScotWind are headquartered in the UK.

www.dailyrecord.co.uk

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Future Economy Scotland @futureeconscot.bsky.social · 4d

“Absurdly, Ireland’s government owns more Scottish offshore wind than the Scottish Government does.”

Our new ‘Who Owns ScotWind?’ data with @cmmonwealth.bsky.social is covered by @dailyrecord.co.uk.web.brid.gy

Scotland 'squandering' profits made by wind farms as foreign developers cash-in

EXCLUSIVE: Only four of the 29 parent companies involved in ScotWind are headquartered in the UK.

www.dailyrecord.co.uk

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Future Economy Scotland @futureeconscot.bsky.social · 4d

To find out more, read our new paper 'Rethinking ScotWind: Maximising Scotland's Offshore Wind potential' by @lmacfarlane.bsky.social:

www.futureeconomy.scot/publications...

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Future Economy Scotland @futureeconscot.bsky.social · 4d

That's why we're calling on the Scottish Government to take public equity stakes in future offshore wind projects

The UK squandered its oil and gas wealth – we cannot repeat the same mistake with renewables. Scotland must have a stake in its energy future

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Future Economy Scotland @futureeconscot.bsky.social · 4d

While Crown Estate Scotland secured £755m of up-front option fees, this is a drop in the ocean compared to the profits that lie ahead

The absence of public ownership means that the bulk of long-term profits will be exported abroad to foreign investors and governments

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Future Economy Scotland @futureeconscot.bsky.social · 4d

💷 The world’s biggest asset manager, BlackRock, is a top ten shareholder in 14 out of 20 ScotWind projects, while its rival Vanguard is a top ten shareholder in 15 projects

Five large asset managers own 18% of ScotWind capacity – nearly a fifth of the total portfolio

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Future Economy Scotland @futureeconscot.bsky.social · 4d

🔥 Large fossil fuel companies own a quarter (25%) of total ScotWind capacity – including oil giants Shell and BP

With both firms rowing back on renewables, there is a risk that ScotWind projects are controlled by firms that are misaligned with climate goals

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Future Economy Scotland @futureeconscot.bsky.social · 4d

🇮🇪🇸🇪🇩🇰 Foreign state-owned firms own 12% of total ScotWind capacity – including the governments of Ireland, Sweden and Denmark

ScotWind profits will support public spending abroad, but not in Scotland

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Future Economy Scotland @futureeconscot.bsky.social · 4d

🌍 78% of ScotWind capacity is owned by parent companies headquartered outside the UK

This means the majority of profits extracted will flow overseas rather than be reinvested in Scotland

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Future Economy Scotland @futureeconscot.bsky.social · 4d

🏴󠁧󠁢󠁳󠁣󠁴󠁿 Who owns Scotland's offshore wind assets?

Our new interactive map with @cmmonwealth.bsky.social lets you explore who really owns ScotWind projects – and who stands to benefit

Highlights in 🧵
Explore the map 👉 www.futureeconomy.scot/scotwind

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Future Economy Scotland @futureeconscot.bsky.social · 5d

Thanks to @vickyallan.bsky.social for such a great write-up.

Read the full report here: www.heraldscotland.com/news/2550956...

Future Economy Scotland @futureeconscot.bsky.social · 5d

“Models that rely on commercial finance could increase project costs by up to 48% – potentially rendering them loss-making”

Our new report on nature restoration is covered by the @heraldscotland.bsky.social www.heraldscotland.com/news/2550956...

'Relying on private finance may actively deter nature restoration'

The trend towards relying on private finance for nature restoration projects like tree-planting, risks undermining Scotland’s net zero ambition

www.heraldscotland.com

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Reposted by Future Economy Scotland

Hanna Wheatley @hannawheatley.bsky.social · 7d

Our new report explores Scotland's attempts to attract private finance to meet net zero targets.

We model funding options for peat restoration + find private finance could increase costs for projects by 48%.

We propose a public-led alternative + policy changes to address non-financial barriers.
👇

Future Economy Scotland @futureeconscot.bsky.social · 7d

🚨 NEW: We’ve been told for years that private finance will fix Scotland’s nature crisis. Our new research shows why it won’t – and sets out a bold public-led alternative.

Highlights in 🧵
Read full report 👉 www.futureeconomy.scot/publications...

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Future Economy Scotland @futureeconscot.bsky.social · 7d

Thanks to @severincarrell.bsky.social for covering our research

Read the full report here 👇

www.futureeconomy.scot/publications...

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Future Economy Scotland @futureeconscot.bsky.social · 7d

“In a new report, Future Economy Scotland said relying on investors such as banks, pension funds and asset managers was wasteful and counterproductive.”

Our new report on why private finance won’t fix the nature crisis is covered in @theguardian.com 👇

NatureScot may raise ‘more than £100m’ in private investment for conservation

Investors in talks about supporting up to 15 government-backed nature restoration projects in Scotland

www.theguardian.com

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Future Economy Scotland @futureeconscot.bsky.social · 7d

Instead of private finance, we need public investment for public goods – plus action on systemic barriers:

📈 Reducing financial uncertainty for landowners
💷 Tax reform
🌱 Fairer land ownership
🦌 Tackling deer numbers
👷‍♀️ Building skills & housing

www.futureeconomy.scot/publications...

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