Impact Investing in Transition Finance

We recently co-hosted a workshop with the Impact Investing Institute, which brought together over 50 investors, industry leaders and strategic stakeholders to explore the role of impact investing in Transition Finance. The first, in a three-part series, designed to grow Scotland’s impact economy.

As the energy sector pivots, it faces increasing barriers to accessing capital. Impact investors – and investors adopting impact-driven strategies – can be catalysts for change, supporting businesses through their transition journeys. Transition finance is the lever that turns ambition into reality: enabling legacy industries to pivot successfully, ensuring communities thrive, and positioning Scotland as a leader in inclusive climate action. Scotland has the potential to demonstrate globally how transition finance can deliver economic growth, social inclusion and Net Zero. 

We were pleased to showcase one of our investees, North Star, as a powerful example of transition finance in practice. Once almost entirely dependent on oil and gas revenues, the company is pivoting toward offshore wind. By 2025, 74% of its order backlog is in renewables, a remarkable shift achieved in just four years. This transformation has created over 300 new jobs, many through reskilling oil and gas workers, and secured the world’s largest service operation vessel contract with RWE. Crucially, our catalytic investment helped to de-risk North Star’s strategy and unlocked more than £400 million in private capital.

Together with the Impact Investing Institute, we’ve produced an event summary which can be downloaded below.