Mackie's of Scotland hails windfarm milestone

Mr Carney, who set up GFANZ, told BBC Radio 4's Today programme: "This is focused on providing the financing that's needed globally to make the investments that we need to get to a net-zero economy.

"And it means bringing together financial institutions, whether there's banks, insurance companies, pension funds, from around the world, and having them commit to net zero.

"So, all of their money, whether they invest in a company or lend to a company, that those companies, those underlying companies, will themselves be reducing their carbon emissions transitioning to net zero."

Elsewhere, soaring oil and gas prices helped BP notch up a better-than-expected profit haul in the third quarter as the global economic recovery sends energy costs racing higher.

The oil giant said underlying replacement cost profits jumped to $3.3 billion (£2.4 billion) in the three months to September 30, up from $86 million (£63 million) a year earlier when oil prices had slumped due to the pandemic.

Also today, a Scottish food and drink brand has hailed reaching a sustainability milestone, 'Scotland’s first employee-owned accountancy' is unveiled, and Claire Taylor offers a reminder of the power of leadership to inspire during hard times in her Business Voices column.

Ice-cream maker Mackie's reaches renewables milestone

One of Scotland’s largest food and drink brands has generated more than one hundred gigawatt hours of renewable energy through its wind turbines, in what it says is a "significant milestone".

Family business Mackie’s of Scotland saw the meter on its three original turbines tick back to zero after it had reached the 100 million kWh mark last month.

Mackie’s has been generating power from its wind turbines since 2005, and has produced enough energy to supply 2,500 family homes with electricity for 10 years, or drive an electric car around the world more than 14,000 times.

The Aberdeenshire farming business said it is continually investing in ways to reduce its footprint, from wind turbines to its solar panel array. Mackie’s is currently installing a £4.5 million low carbon refrigeration system which will cut the farm’s energy use by up to 80%.

Renewable energy consulting engineer and long-time Mackie’s collaborator, Colin Anderson, believes this to be a significant milestone.

He said: “This is a tremendous feat for Mackie’s and certainly stands as one of the most influential accomplishments in renewable energy production by a private business.

“Mackie’s has been a trailblazer in renewable energy production, becoming one of the first companies to install its own wind turbine in the 1980s. It now has the capabilities to harness wind and solar energy, as well as biomass.

“Attitudes have continued to change over the years, and there is an increased acceptance and understanding of the benefits renewable energy generators, such as wind farms, can bring.

“More and more businesses are looking at ways in which they can produce their own renewable energy following the template set by Mackie’s.

“Scotland’s potential for renewable energy is one of the greatest in Europe, and through developing these technologies our nation’s dependence on fossil fuel-based electricity can be reduced.”

Mackie’s first installed a wind turbine in 1983 generating electricity at the farm for just under a decade.

The turbines produce around 50% more energy than Mackie’s requires to run the business, with the surplus electricity sold into the grid as green energy for the surrounding communities to use.

Mac Mackie, managing director at Mackie’s of Scotland, said: “We are continuing to invest in new methods which will increase our renewable potential and cut down our carbon footprint.

“Reaching 100 million kWh is a significant landmark for the farm and we are looking forward to hitting the 200 million mark in the years to come.” 

Mackie’s of Scotland has been climate positive since 2007. Its renewable energy is derived from a mix of wind, solar and biomass energy that produce over 8.5 GWh of electricity each year.

The fourth generation family farm’s "sky to scoop" ethos sees the brand create everything, from dairy products from its own herd to its packaging, as well as other ingredients on site.

'Scotland’s first employee-owned accountancy'

A long-established business is said to have made history by becoming Scotland’s first employee-owned full service accountancy firm.

All shares of Reid & Fraser Chartered Accountants have now been placed into an employee ownership trust (EOT) marking a significant milestone within the sector which has recently seen several Scottish firms bought over by international counterparts.

Claire Taylor: The power of leadership to inspire during hard times

As global leaders passionately addressed the COP26 conference yesterday, calling for solidarity in tackling net zero and biodiversity challenges, it was a pertinent reminder that strong and effective leadership is a powerful tool which can inspire even the most disillusioned of individuals to act.

This was very much clear at last week’s National Farmers’ Union of Scotland’s Autumn Conference which included a passionate address from the Scottish Government’s Mairi Gougeon, at a time where farmers and crofters are feeling undervalued and abandoned by those in power.