Climate change is happening and it’s not just happening somewhere else — it’s here in the UK and is already having an impact.
On Tuesday 11th May, Green Angel Syndicate Insights Programme was delighted to present: ‘An Hour with Chris Stark’, Chief Executive of the UK’s Climate Change Committee (CCC). The CCC is responsible for recommending climate change policies to the UK Government and it was on these recommendations that Boris Johnson recently pledged to accelerate our speed to net zero by cutting carbon emissions by 78% by 2035.
In his presentation Chris outlines some of the work going on behind the scenes to put this ambitious target in place, as well as talking about the challenges faced by the investment community and the need for investors to respond and adapt in order to address climate change.
Chris emphasises that short term reductions in carbon emissions are crucial, as cumulative emissions drive temperature change. He is adamant that governments must effect a sharp global turnabout during the course of this decade if we are to hop onto the trajectory for reaching net zero. Of course, the pandemic has helped to cut emissions recently, but what we really need is systemic change to global infrastructure and it’s these vital changes needed to enable rapid global decarbonisation that heads of state will be discussing at COP26 in Glasgow this November.
Source: Climate Change Committee (CCC)
How can we reach net zero in the UK?
Here are some of Chris Stark’s solutions in what he calls: “The decade of heavy lifting for policy.”
- Transition from using high carbon to zero carbon assets in industry and transport, transitioning away from using coal and natural gas.
- “Get ahead of investment cycles” now and start thinking now about the lifetimes of these assets within industry.
- Expand our capability for generating renewable energy, through heat pumps, hydrogen and offshore wind.
- Look at ways of capturing carbon to offset the remaining sources of emissions from agriculture and aviation.
- Look closely at supply chains in industry to decarbonise manufacturing and materials.
- Use public policy to stimulate private investment.
- Foster behavioural change throughout society.
- Look at new technologies that reduce and reverse emissions.
While most of the points above are actions that must be taken by governments, the final point in the list is something we really can do something about. Looking at new technologies that reduce and reverse emissions is exactly what Green Angel Syndicate does. Companies go through a rigorous deal selection process before being pitched to members of the Syndicate, who can then invest in those they believe will truly make a difference in the fight against climate change.