The global shift to a Net Zero economy has secured its rightful place as a "must-have" for every business: now ubiquitous in corporate strategies; the growth opportunity we are all focused on.
Besides the moral imperative, it is clear the future of economic growth is green: 70% of the global economy is covered by Net Zero targets, including the UK and the EU, and we hope that percentage will rise by COP26.
It’s immensely satisfying to be working on this hot topic as part of the UK Government’s network in Europe, where businesses are already delivering on this transition together. Offshore wind is the success story we all know well, and our team across the continent is now supporting investment across sectors beyond renewables: Sweden's Volta trucks in low carbon transport, Netherlands' AkzoNobel in sustainable consumption, French Schneider Electric in electricity networks... just a few examples of European companies choosing the UK for clean growth.
In the UK we want to work with businesses like these committed to the low carbon transition. The UK is proud to be a world leading investment destination and the Prime Minister’s 10 Point Plan for a Green Industrial Revolution puts the focus firmly on clean growth. This strategy includes £12bn of public investment into the net zero economy, forecast to bring in up to three times as much private investment by 2030.
Investment from Europe will be a key part of this story, which is why Lord Grimstone, the Minister for Investment, will be launching the UK’s latest green investment offer at our European Green Investment Summit alongside the preCOP26 in Milan this month. Hot on its heels will be the Prime Minister-hosted Global Investment Summit in London in 19th October.
As the buzz builds ahead of the COP26 conference in Glasgow, we want to ensure the voice and low carbon ambition of business is heard loud and clear. Please check out the UN Race to Zero campaign committing members to reach Net Zero emissions by 2050 at the latest, and to short-term targets based on the science to get there.
The number of European businesses that have joined the Race to Zero has almost doubled since the beginning of this year and those registered will be celebrated at the COP26 conference in Glasgow – you still have time! As a business the recommended route to join the initiative is via the coalition ‘Business Ambition for 1.5°C’.
Find out more about what we are doing in partnership with Italy around the official pre-COP in Milan: