Government’s announcement on green targets

Insights & Opinions / Sep 27, 2023

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Last week, the Prime Minister announced some major changes to the UK’s environmental policy commitments, pushing back our previous targets for achieving net-zero.

As a business that operates in the green-tech space, Vertical Meadow’s drive is simple – to make the world a better place and secure a brighter future for both current and future generations. This policy shift is truly disheartening. At a time when the government should be ramping up its efforts to combat climate change, delaying our crucial net-zero objectives puts our thriving green-tech innovation community at risk.

Together with our partners and clients, we’re striving to ensure that nature-based solutions aren’t just a luxury for a select few, but accessible to everyone. We’ve invested significant effort in developing technology and securing investments. Our success relies heavily on governments not only meeting their existing commitments, but surpassing them.

The future of the UK’s green tech sector depends on the creation of a national investment scheme to parallel the efforts made by the US and the EU – in order to deliver on emission reductions and the restoration of nature. We urgently need clear and robust policies that align with the interests of both businesses and citizens. Without such alignment, we risk forfeiting our path to net-zero, with unimaginable consequences.

Previous plans enabled the UK to gain a competitive edge in industries critical for achieving net-zero, thanks in large part to the consistent and clear signals from the government. This enables businesses to make long-term investments in infrastructure and R&D – leading to the innovation needed and the nurturing of ecosystems to grow the climate start-ups with the solutions to achieve our net-zero goals. Innovation must go hand in hand with stable, long-term policies if we hope to continue attracting vital investments and top talent.

While the US and other European countries are rolling out ambitious policies and investments to attract climate-focused innovations and foster an environment for future industries to thrive, it’s inconceivable that our own government is undermining the UK’s most significant competitive advantage.

Despite this, we remain steadfast in our commitment to collaborating with our communities and partners to innovate in response to the climate crisis. We’ll redouble our efforts to engage with academia, businesses, investors, and policymakers to create solutions for a sustainable future.

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