14 Feb 2024
By Alison McRae, Senior Director of Glasgow Chamber of Commerce
It was terrific to welcome so many of our members to the launch of British Chambers of Commerce(BCC) Green Innovation report in the National Manufacturing Institute Scotland (NMIS) last month. It was the first report to be published by BCC’s new Business Council as part of the 'Future of the Economy' project which was launched at their Global Conference last summer. The programme will comprise of reports across 5 themes of Green Innovation, People & Work, Global Britain, Digital Revolution and Local Economy of the Future with the specific aim of influencing policy makers and Government as we move towards a General Election.
Indeed it was fitting that the launch of the first Green Innovation report was hosted by Glasgow Chamber of Commerce and we were delighted to be part of the work with East Lancashire Chamber of Commerce, the Green Finance Institute and Institute of Environmental Management and Assessment (IEMA). It includes input from businesses like Natwest, Drax and IHG and also draws on expertise from businesses of all sizes and sectors, academia and think-tanks. The Green Innovation Challenge group is Chaired by entrepreneur Lisa Witter of Apolitical Foundation and supported by BCC’s Director of Policy & Insights Alex Veitch, who had the task of pulling it all together to make a suite of compelling policy asks which will help accelerate the UK's transition to net zero.
It was also a privilege to host this event and share a podium with the President of British Chambers of Commerce Martha Lane Fox CBE and Emma Howard Boyd CBE - as key note for the day - alongside Chris Courtney of NMIS our host venue and BCC Director General Shevaun Haviland.
In her opening remarks, Martha Lane Fox referenced that BCC research showed one of the most pressing challenges for all business is the transition to a green and sustainable future and that they want to play their part but face barriers along the way. She emphasised that business must play a leadership role saying we will have no habitable planet if we don’t encourage rapid and effective actions.
The Green Innovation report has outlined a series of proposals and recommendations including strengthening resources for the independent Climate Change Committee, embedding a permanent cross-sector approach to green jobs and requesting quicker Government action on financing the transition to net-zero through the tax system.
Establishing a new public body focused on climate delivery, the report says, would ensure genuine cross-party working to agree long-term commitments and it highlights the clear call from investors that current green industrial policies need to be aligned into a long-term, cross cutting strategy.
In order to maintain the country’s progress on climate the report also recommends linking the UK and EU emissions trading schemes, implementing energy grid upgrades and establishing deeper business and Government partnerships.
In conclusion, it states we’re entering a ‘crunch phase’ for delivery on net zero and that many of the necessary policy measures involve changes to supply chains, to customer and business behaviours, and in some cases additional cost burdens at least in the short term.
Emma Howard- Boyd CBE Chair Green Finance Institute and Chair, London Climate Resilience Review shares that ‘the clock is ticking on the climate crisis and solutions lie in the collective ingenuity of British businesses. Thriving companies innovate to stay ahead and by setting ambitious goals they raise the bar for entire markets.’
The report has been launched ahead of Congress of Business - COB on the 14th May in SWG3. It will be part of Glasgow Climate Week alongside All-Energy Exhibition and Conference, the UK's largest renewable energy conference, in the SEC which recently launched its ambitious plans to become the world’s first net zero campus!
COB is led by Glasgow Chamber of Commerce with BCC, Scottish Chambers of Commerce and the University of Glasgow. It aims to bring meaningful change by converting sustainable strategies to actionable results for businesses and cities globally building on the Glasgow Climate Pacts and this year will focus on the importance of investment in enabling the realisation of targets alongside the built environment.
Innovation - including green innovation -will continue to be at the core of Glasgow city region’s ambitions through the work of our network of Innovation Districts, our UK Government Innovation Accelerator Status and of course the ongoing work our businesses- and particularly our SME community- are doing to unlock the innovative solutions we need to see to meet our climate targets.
As host of COP26, this city has been championing green innovation and circular economy for many years and Glasgow Chamber of Commerce has been at the forefront of fighting for the right economic and policy conditions to empower businesses to accelerate and scale action supporting the move to net zero.
Creating the best enabling policy environment for businesses is critical and this Green Innovation report provides a comprehensive overview of the challenges and opportunities currently faced by businesses as well as some of the necessary support required.
Importantly, the next Green Innovation Challenge report will focus on the role of how transitioning to a circular economy - for example by designing out waste and keeping materials in use at the highest value as core drivers of innovation - alongside the shift to renewables and energy efficiencies, is essential to realise global net zero targets.
