Business leaders from across the Thames Valley came together to explore ways they can tackle the climate emergency.
The Reading Environmental Sustainability Quorum (RESQ), in partnership with NatWest, organised the first Reading Climate Fayre, offering advice and inspiration from industry specialists on how to take meaningful action regarding their impact on the environment.
Key questions explored included practical tips on how to develop a sustainability plan and how to build the business case for investment.
Speakers included Dr Maria Carvalho, Head of Climate Economics & Data, NatWest; Stuart Clark, Head of Climate Transition, Lombard ; Professor Richard Allan, Professor in Climate Science, University of Reading; Peter Moore, Head of Climate Strategy, Reading Borough Council; and Tracey Rawling-Church, Co-Chair, Reading Climate Action Network
Dr Carvahlo was the keynote speaker, and discussed the findings of NatWest’s recently published report A Springboard to Sustainable Recovery. This identified that UK SMEs have a huge opportunity to benefit from a £175bn revenue opportunity between now and 2030 based on the government’s climate ambitions for the end of the decade.
The report also found that 40,000 new SMEs will have to be set up to capture the opportunity and for the UK to meet its 35% emission decrease target by 2030, with these businesses potentially contributing up to 50% towards the UK’s total emissions reduction process.
“It was an honour to speak at the Reading Climate Fayre and I hope the business leaders in attendance leave with a new sense of understanding of the impact each one of them can play in the transition to net zero as well as the confidence to address climate change through their own business,” she said.
“Climate change is something we can all play a part in addressing and so it is only by supporting businesses across the country that we will achieve meaningful change.
“The integral role businesses in the UK will play in allowing the nation to reach net zero is clear and is further emphasised in NatWest’s 2022 Springboard to Sustainable Recovery report. The results of which highlighted how SMEs are pivotal to climate action as they could contribute up to 50% of UK 2030 emission targets through pursuing decarbonisation.”
She added: “Further, rising energy costs mean that the business case for investment in sustainability has never been higher. As a whole, if SMEs are properly supported to deliver their full potential when it comes to sustainability, the UK economy could benefit from a potential £175billion revenue opportunity by 2030, with over 260,000 new jobs created in the process, as it aims to meet world-leading decarbonisation and emissions targets.”
Andrew Jackson, Enterprise Acceleration Manager for the NatWest South-West Accelerator Hub said: “Taking meaningful action on sustainability is one of the most pressing challenges facing business owners and entrepreneurs at this time.
“Through our work supporting entrepreneurs in the South West of the UK, we know that the the business case for investment in sustainability is also in part being driven by shifting consumer demand. People are expecting environmentally responsible action from the businesses that they choose to spend their money with.
“We’re committed to continuing to identify and support exciting, future-focused businesses to thrive in the region, creating sustainable growth and employment opportunities in Reading.”
