Scottish business leaders optimistic about GB Energy’s impact, survey reveals – Aberdeen Business News

The majority of Scottish business leaders believe that GB Energy’s decision to locate its headquarters in Scotland is poised to deliver substantial benefits across the country, according to a recent survey conducted by international law firm, Womble Bond Dickinson.

A staggering 81% of respondents believe that GB Energy’s presence will positively impact the Scottish economy. The overwhelming support underscores the confidence in Scotland’s potential to become a global hub for renewable energy and economic growth.

The survey also reveals that 61% of those polled expect significant job creation in the renewable energy industry. In fact, more than half (54%) think it’s likely that GB Energy will reach its target of creating 650,000 jobs by 2030.

Additionally, 54% foresee benefits to local businesses and suppliers, while half anticipate increased investment in Scotland’s clean energy potential.

Almost half (48%) of respondents express the view that GB Energy’s presence is also  expected to bolster energy security and stability. Furthermore, 40% believe it will reduce the UK’s reliance on imported fossil fuels, and 38% expect a reduction in Scotland and the UK’s carbon footprint.

Richard Cockburn, Head of Energy at Womble Bond Dickinson, said: “GB Energy’s decision to base its headquarters in Scotland marks a key milestone for the country’s renewable energy sector and further underpins Scotland’s role as a leading centre for clean energy.

“The widespread optimism among Scottish business leaders highlights the opportunities for job creation, economic growth and bolstering energy security. However, the transition also poses challenges that cannot be overlooked.”

Despite the positive outlook, the survey also identifies several concerns. There is a clear generational divide in the viewpoints of business leaders, with those aged 25 – 44 most upbeat about the positive impact GB Energy’s presence will have on Scotland, in contrast with scepticism shown by those aged between 55 – 64.

Some 37% of respondents are worried about how GB Energy will be funded, while 35% fear that the establishment of GB Energy will not result in lower energy bills for households and businesses, widely cited by the UK Government as one of the core aims of GB Energy. Additionally, 30% anticipate potential job losses in traditional fossil fuel industries as the sector undergoes a significant transition to clean energy.

Richard continued: “As Scotland continues to position itself as a leader in renewable energy, the concerns raised – particularly around the funding of GB Energy and support for displaced workers in fossil fuel industries – must be addressed to ensure an equitable and sustainable transition and the upskilling of our existing workforce.”