Rain Newton-Smith, Chief Executive of the Confederation of British Industry (CBI), is set to urge both Holyrood and Westminster to collaborate with businesses in unlocking Scotland’s clean energy potential, turning the sector into a driving force for economic transformation in the UK.

Speaking at the CBI’s annual dinner in Glasgow, Newton-Smith will highlight Scotland’s natural resources, describing them as “the envy of the world”. She will emphasize that investment in the energy sector is “mission critical” for unlocking green growth, which she sees as a “golden ticket for UK growth.”

In her speech, which will focus on hope and overcoming adversity, Newton-Smith will also warn that this once-in-a-generation opportunity could be jeopardized if the UK and Scottish governments fail to act quickly to reassure investors. She will stress the importance of policy certainty, competitive tax structures, and coordinated efforts between governments and businesses to ensure Scotland’s potential as a clean energy leader is fully realized.

Newton-Smith will also call for a UK-wide Net Zero Investment Plan, a strategy aimed at streamlining decarbonization efforts and catalyzing private investment, which she believes is crucial for sustaining momentum in the green energy transition.

On Scotland’s potential as a clean energy superpower, Newton-Smith will say: “We are now at a moment when global energy markets are shifting, redefining economies and growth prospects in the blink of an eye. And we’ve seen ripples of that in the UK. Last year, when the UK economy as a whole pretty much flatlined, our net zero sector grew 9 per cent. That’s just a taste of what can be achieved – CBI research has found up to £57 billion of green growth opportunities by 2030."

She will add that Scotland is at the heart of this transition, excelling in offshore wind and renewable power. "Scotland has the tools at its fingertips to be a global clean energy superpower. The dynamo for economic transformation – for Scotland and the UK,” Newton-Smith will say.

Despite Scotland’s leadership in clean energy, Newton-Smith will caution that significant challenges remain, pointing to slow progress on decarbonization targets and lagging investment in the sector. She will emphasize the need for continuous government focus and cooperation, particularly around infrastructure and planning, to ensure Scotland stays competitive in the global green economy.

Newton-Smith will also address the "restless energy" of businesses eager to invest in a clean energy future, but held back by policy uncertainty and delays. “Businesses have a restless energy to go for growth, to invest, but they need really clear signals from governments north and south of the border to lay down their markers,” she will say.

Reflecting on recent tax changes, Newton-Smith will criticize the lack of fiscal certainty, particularly for energy companies. "For many of them, the changes to the Energy Profits Levy last month marked the fifth change to the industry’s taxes in two years. That’s not fiscal certainty and it’s not a spur to invest," she will argue.

Concluding her remarks, Newton-Smith will call for a comprehensive Net Zero Investment Plan and more detail on key initiatives such as GB Energy and the National Wealth Fund. “If governments north and south of the border are serious about getting investment flowing – about channelling that restless energy in business – we need a proper Net Zero Investment Plan,” she will say. “We need to see that the thinking has been done on how this all connects.”

With both Scotland and the UK at a critical juncture in their green energy transition, Newton-Smith’s call for action highlights the urgency of creating a supportive environment for investment in renewable energy, ensuring that the UK can capitalize on its green growth potential.