In the final installment of our three-part series on Scotland’s green finance transformation, we focus on one of the most critical components of the green transition: the people who will lead the charge. Scotland’s ambition to become a global leader in green finance and sustainable development hinges on capital and policy and building a highly-skilled, world-class workforce. A robust pipeline of talent—driven by strategic investments in education and training—is essential for creating the expertise needed to support the country’s green economy goals.
Scotland has a rich heritage of education and finance, dating back to the 18th century when its thinkers laid the groundwork for many modern financial systems. Today, Scottish universities, professional institutions, and financial services organizations are leveraging this legacy to train the next generation of green finance leaders. Institutions such as the Chartered Banker Institute and the Institute and Faculty of Actuaries are at the forefront of providing education and professional development that integrates environmental, social, and governance (ESG) principles.
David Pitt-Watson, Chair of the Scottish Taskforce for Green and Sustainable Financial Services: “We may be a small country, but in this respect, as we move forward, our ambition should be huge.” This ambition is reflected in Scotland’s growing efforts to provide cutting-edge education that ensures financial professionals have the necessary skills to support green investments and sustainability initiatives.
One of the primary focuses for Scotland’s financial sector is upskilling professionals to meet the demands of a rapidly changing economy. The Taskforce’s recommendations include the creation of a “Sustainable Finance SkillsNet,” a collaborative platform where educational institutions, financial firms, and government bodies can share resources and knowledge to build a greener workforce. This initiative aims to develop Scotland’s expertise in climate risk analysis, green financial product development, and sustainable investment strategies.
The impact of these efforts is already visible in the financial job market. According to PwC’s Green Jobs Barometer, Scotland now boasts the highest proportion of green financial job openings in the UK, with 5.6% of all financial job listings classified as green roles. The growing demand for green skills indicates that the financial industry is evolving, and institutions across Scotland are working to ensure they can provide the necessary talent to support this transition.
Collaboration between educational institutions and the private sector is key to ensuring a sustainable pipeline of green finance talent. Scottish universities, many of which rank among the top in the world, are taking proactive steps to incorporate sustainability into their curricula. For instance, the University of Edinburgh offers specialized programs in sustainable finance, equipping students with the skills to navigate the complexities of financing a low-carbon economy.
At the same time, financial institutions are partnering with these educational bodies to ensure students are prepared for real-world challenges. The Taskforce has encouraged further collaboration, calling for programs directly linking students to green finance projects, internships, and apprenticeships. By fostering this hands-on experience, Scotland aims to create a workforce ready to take on leadership roles in green finance, ensuring the country remains competitive globally.
Scotland’s ambition to become a global hub for green finance extends beyond its borders. The Taskforce emphasizes that the country’s expertise in sustainable finance can serve as a model for other regions aiming to build their green finance sectors. The Global Green Finance Index has consistently ranked Edinburgh and Glasgow as two of the top cities for green finance, and this reputation continues to grow.
As the demand for green financial services increases, Scotland is well-positioned to export its expertise, helping other nations achieve their sustainability goals while attracting international talent and capital.
As Scotland pushes toward its 2045 net-zero target, developing a skilled and knowledgeable workforce will be key to its success. Scotland is building the foundations for a green financial future that will lead domestically and internationally by investing in education and training and fostering collaboration between institutions and the private sector.
Scotland’s focus on education is not just about meeting immediate needs; it’s about future-proofing the country’s workforce for the long-term challenges and opportunities presented by the green economy.
