7 min
Consistent policy is key to unlocking the climate tech boom, but the UK's U-turn isn't helping SMAF-NewsBot
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- Technologies
When British prime minister Rishi Sunak appeared in front of the hastily assembled press on September 20, the letter-crammed slogan on his lectern caused the country to squint: "Long-term decisions for a brighter future," it read. We now know, of course, there was little in the speech that followed .
Eliza Eddison
Contributor
Eliza Eddison is COO at FabricNano, a biocatalyst engineering company that enables the sustainable manufacture of products - including but not limited to industrial chemicals - at scale.
When British prime minister Rishi Sunak appeared in front of the hastily assembled press on September 20, the letter-crammed slogan on his lectern caused the country to squint: "Long-term decisions for a brighter future," it read.
We now know, of course, there was little in the speech that followed that brought hope. Certainly not concerning the technological fight for our future climate.
Not that long ago, the UK seemed a rather brighter beacon in the industrial transition toward reversing the global climate breakdown. The countrywide goals were laid out. COP26 at least offered a forum and a spotlight. London has made strides in establishing itself as a hub for green tech startups. On the narrow but viable path toward net zero, leaders were at least taking the right steps.
Then came the nadir of the last few weeks.
Last week, with the government's already infamous U-turn on its green pledges, the nation joined in a consternated chorus with global leaders to lament the prime minister's short-sighted choice. Sunak has pushed back the British net-zero transition timeline by at least five years.
The first and most galling concern is, obviously, the consequences for the future of our species on this planet. The next biggest issue, currently being voiced by leaders across industries and especially within the climate tech and climate finance sectors, is the message it sends out to those of us in the trenches actually trying to build technology to change the world and enable a sustainable future.
That message is loud and clear: The U.K. government isn't willing to be consistent when it comes to climate crisis response policy, which, aside from capital and the support of nascent tech markets, is one of the most critical things anyone in our sector can hope for.
For entrepreneurs, innovators and businesses to thrive and unlock the economic potential that comes from creating new industries, we need a consistent approach from the government.
I care about this because, as Americans who chose to build a biocatalyst engineering company here in the U.K., we're acutely aware of the impact such a reversal of policy has on every stage of our sector's existence. All major technological innovation ultimately comes from government support at the very beginning. We wouldn't have affordable solar panels, microchips, mobile phones or the internet without government funding, government subsidies, government encouragement and government infrastructure. You can't scale technology that is going to make a considerable impact without upfront capital to match.
In January of this year, Chancellor Jeremy Hunt unveiled a long-term vision to grow the economy, saying, "I want the world's tech entrepreneurs, life science innovators and clean energy companies to come to the U.K. because it offers the best possible place to make their vision happen." Unless his long-term vision was only meant to last until the end of the summer, for entrepreneurs, innovators and businesses to thrive and unlock the economic potential that comes from creating new industries, we need a consistent approach from the government.
We have enormous fiscal potential. Within the U.K. climate tech community, we are working to create high-paying jobs and value for investors across just about every asset class. And collectively - hell, individually - our solutions could genuinely change the world.
Of course, this is the common cause we should be united around. Our company is trying to mo
When British prime minister Rishi Sunak appeared in front of the hastily assembled press on September 20, the letter-crammed slogan on his lectern caused the country to squint: "Long-term decisions for a brighter future," it read. We now know, of course, there was little in the speech that followed .
Eliza Eddison
Contributor
Eliza Eddison is COO at FabricNano, a biocatalyst engineering company that enables the sustainable manufacture of products - including but not limited to industrial chemicals - at scale.
When British prime minister Rishi Sunak appeared in front of the hastily assembled press on September 20, the letter-crammed slogan on his lectern caused the country to squint: "Long-term decisions for a brighter future," it read.
We now know, of course, there was little in the speech that followed that brought hope. Certainly not concerning the technological fight for our future climate.
Not that long ago, the UK seemed a rather brighter beacon in the industrial transition toward reversing the global climate breakdown. The countrywide goals were laid out. COP26 at least offered a forum and a spotlight. London has made strides in establishing itself as a hub for green tech startups. On the narrow but viable path toward net zero, leaders were at least taking the right steps.
Then came the nadir of the last few weeks.
Last week, with the government's already infamous U-turn on its green pledges, the nation joined in a consternated chorus with global leaders to lament the prime minister's short-sighted choice. Sunak has pushed back the British net-zero transition timeline by at least five years.
The first and most galling concern is, obviously, the consequences for the future of our species on this planet. The next biggest issue, currently being voiced by leaders across industries and especially within the climate tech and climate finance sectors, is the message it sends out to those of us in the trenches actually trying to build technology to change the world and enable a sustainable future.
That message is loud and clear: The U.K. government isn't willing to be consistent when it comes to climate crisis response policy, which, aside from capital and the support of nascent tech markets, is one of the most critical things anyone in our sector can hope for.
For entrepreneurs, innovators and businesses to thrive and unlock the economic potential that comes from creating new industries, we need a consistent approach from the government.
I care about this because, as Americans who chose to build a biocatalyst engineering company here in the U.K., we're acutely aware of the impact such a reversal of policy has on every stage of our sector's existence. All major technological innovation ultimately comes from government support at the very beginning. We wouldn't have affordable solar panels, microchips, mobile phones or the internet without government funding, government subsidies, government encouragement and government infrastructure. You can't scale technology that is going to make a considerable impact without upfront capital to match.
In January of this year, Chancellor Jeremy Hunt unveiled a long-term vision to grow the economy, saying, "I want the world's tech entrepreneurs, life science innovators and clean energy companies to come to the U.K. because it offers the best possible place to make their vision happen." Unless his long-term vision was only meant to last until the end of the summer, for entrepreneurs, innovators and businesses to thrive and unlock the economic potential that comes from creating new industries, we need a consistent approach from the government.
We have enormous fiscal potential. Within the U.K. climate tech community, we are working to create high-paying jobs and value for investors across just about every asset class. And collectively - hell, individually - our solutions could genuinely change the world.
Of course, this is the common cause we should be united around. Our company is trying to mo
7 min