The newly approved investment strategy is set to shape the city’s financial landscape until 2030, aligning closely with the goals of the Glasgow Economic Strategy, of which, one of the three key tenets is to address the climate emergency.  

The sectors at the forefront of the new initiative are life sciences, precision medicine, the digital and creative economy, the green economy, and space and satellite technology.

“The Glasgow Investment Strategy will help to bring new jobs to the city, particularly in the sectors that will deliver both economic growth that benefits the whole city and our Net Zero targets,” said Susan Aitken, leader of Glasgow City Council.

Glasgow has a track record of attracting global players to invest in the city, including Barclays, BNP Paribas, Morgan Stanley, and JP Morgan. According to Glasgow City Council, the city got £3.06 billion in foreign direct investing over the last decade, resulting in 13,342 new jobs. 

“The continued success of the city in attracting investment is testament to the education and skills of our people, the support and strength of our business networks and our work to promote the attractiveness of Glasgow as a place in which to live, work and invest,” said Aitken.

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The refined investment strategy comes on the heels of a mass movement in business to promote environmental and social governance (ESG). According to a survey from PwC, over two thirds (67%) of consumers in the UK reported ESG considerations important.

“People want businesses to make a profit whilst solving social and environmental challenges,” read the report. This points to businesses needing to shift their paradigms to prioritise social and environmental impacts over purely profits. 

This being the case, 15 specific actions have been identified to reach goals outlined in the new investment strategy. This includes monitoring trends, expanding to new markets, furthering green investment, and supporting local startups and SMEs through it all, particularly in priority sectors.