The Press and Journal (Inverness, Highlands, and Islands)
Removing support for fossil fuels ‘will not inhibit growth’
Plans to remove support for oilfield technology and services exports will not necessarily inhibit supply chain growth, according to an industry expert.
Speaking during Energy Voice’s Virtual Tech Showcase yesterday, Mhairidh Evans, principal analyst at Wood Mackenzie, described the change of policy as a “signal of support” for renewables, rather than a “statement against oil and gas”.
The Scottish Government recently said it was calling time on “overseas trade support and promotion activities solely focused on fossil fuel goods and services”.
It plans to implement the change ahead of COP26 taking place in Glasgow in November.
Trade Minister Ivan McKee said assistance would only be given to firms that adhere to Scotland’s “climate priorities”, although companies that can demonstrate their role in achieving a “fair and just energy transition” may be considered for exemptions.
The decision sparked panic in the industry, with oil chiefs calling for an “urgent meeting” with ministers. But, Ms Evans said that while it could have an impact on companies looking to target flourishing overseas markets, the majority are already engaged in diversification.
She added: “The upstream oil and gas sector – subsea specifically – is still a strong source of income, innovation and revenue for the supply chain.
“We see a lot of firms shifting their R&D efforts and capital towards these new markets.”
A new online platform that showcases Scotland’s strengths in the healthcare and life sciences sectors to a global audience has been launched.
Scottish Enterprise (SE) joined forces with UK Healthcare Pavilion on the scheme that allows overseas customers to connect virtually with firms and organisations based in Scotland and the wider UK.
Suzanne Sosna, interim director of global trade at SE, said: “Scotland’s healthcare and life science sectors are highly regarded around the world due to our skilled workforce, the innovative companies located here and the collaborative environment created between the private sector and our public institutions.
“The Pavilion will support our wider efforts to raise international awareness of the ground-breaking sectoral research taking place and showcase the innovative global healthcare solutions and technologies being developed in Scotland.
“With so many businesses and consumers pivoting to e-commerce... this online resource will also significantly enhance the digital footprint of our healthcare and life science sectors.”
The site provides a searchable directory of firms that will enable overseas buyers and healthcare providers to identify and engage with industry and health organisations.
It will also provide news, insights and interviews from a variety of key opinion leaders and policy makers.