Charlie Mercer’s Post

On behalf of Carbon Re, I have signed an open letter to Keir Starmer and Rishi Sunak calling for policies to accelerate UK ClimateTech to be prioritised under the next government. The letter was written by Startup Coalition and ClimateImpact and signed by over 180 ClimateTech leaders. Whoever wins on 4 July must prioritise #ClimateTech innovation - it is an environmental and economic imperative. https://lnkd.in/emQJsQJK

The recent decision by British Prime Minister Rishi Sunak to delay the country's net-zero transition timeline by at least five years has raised concerns among global leaders and climate tech industries. This move not only poses risks to the future of the planet but also discourages technology companies from building a sustainable future. As a biocatalyst engineering company based in the UK, the impact of such policy reversals on the climate tech sector is understood. Government support is crucial for technological innovation, but without consistent policies, it is challenging to scale technology and make a significant impact. This lack of consistency also hinders economic growth and job creation, as it undermines long-term visions that attract tech entrepreneurs and clean energy companies to the UK. The solution is to establish consistent macroeconomic, tax, and climate policies to provide stability and support for technology companies working towards a greener future. By doing so, the government can actively contribute to the success of the sector and address the pressing challenges of climate change. #Sunak #Ford #London #JeremyHunt #RishiSunak #Uk #Ev #TheStartupCoalition

For clarity here are the words as publised by the UK Gov. 20 September 2023 "Transcript of the speech, exactly as it was delivered". #climatechange #netzero #renewableenergy #sustainability https://lnkd.in/eYkgXVTQ

Your recap of last week's successes, challenges and interesting stories in the green industry 👇 Last week was particularly galling for us around the failings of UK Government by and large to give meaningful, consistent guidance and direction on Net Zero - from approving new drill sites and now Rishi Sunak being Anti-People, Anti-Planet and Anti-Prosperity - purely driven by profit and greed under a thin veil of empathy. 🕊 Must see moment marketing by WWF Germany as the Twitter brand changes. https://lnkd.in/er4avUE2 🏷 A D 🚗 Rishi Sunak says "I am on motorists' side" as he orders review of anti-car schemes. https://lnkd.in/ep2Gk8kw 🏷 Lior Steinberg 📃 North West Net Zero Hub shares the North West Net Zero Youth Network Report. https://lnkd.in/ea2CS7vz 🏷 North West Net Zero Hub & Youth Focus North West ☀ "A great start would be to go solar to harvest free electricity, then build a decarbonisation strategy around that" Says Gary Brandwood in reply to Stephen Cummins JP. https://lnkd.in/ebEQHwJp 🏷 Gary Brandwood 🚦 "Why - contrary to the advice of Science Based Targets initiative - we need to do "AND, NOW", not "OR, LATER" https://lnkd.in/eakZmGvF 🏷 Rich Gilmore #SustainabilityShoutout

Key 7 points of the letter from investors to UK Prime Minister on net zero : ✍️Signatories: CEOs of organisations working with a significant number of investors and financial services institutions, and investors representing over £1.5 trillion in assets under management. Names and organisations: Institutional Investors Group on Climate Change (IIGCC), UK Sustainable Investment and Finance Association (UKSIF), Principles for Responsible Investment (PRI), Aviva Investors, BlackRock, Fidelity International, Legal & General Investment Management, Schroders, Standard Life Aberdeen, Wellington Management, and many more. 🫵🏻Concern: The UK government's decision to backtrack on vital policy measures that support the UK's transition to net zero. 🫵🏻Impact: This erodes the UK's position as a global leader on climate, undermines our international competitiveness, and increases the risk that we fail to capitalise on one of the greatest economic opportunities of the 21st century. 🫵🏻Need for government support: An enabling policy environment is a prerequisite for investors looking to make long-term investment and asset allocation decisions in line with their fiduciary duty to clients and beneficiaries to manage risk and opportunities to maintain the long-term financial value of their assets. 🫵🏻The four Cs: To meet the UK's legally binding climate commitments, we need government to uphold the four Cs that underpin effective policymaking – certainty, consistency, clarity, and continuity. The UK's recent Net Zero Strategy explicitly recognises this and so do investors. 🫵🏻Concern over specific policies: The signatories welcome commitments to provide greater levels of financial support under the Boiler Upgrade Scheme and plans to speed up and enhance grid connectivity. However, they are concerned about the decision to relax targets in other key areas, such as the 2030 target for banning new internal combustion engine (ICE) car sales and ambitious policies to replace gas boilers and increase the energy efficiency of UK homes. 🗣️Call to action: The signatories urge the government to uphold ambition and avoid backsliding on key climate policies, including by reconsidering the decision to delay phase outs of new ICE car sales and gas boilers, and maintaining commitments to deliver on energy efficiency targets. This letter is a powerful signal from the investment community that they are deeply concerned about the UK government's recent decision to backtrack on key climate policies. The government should take this letter seriously and reconsider its approach to net zero. #NetZero #UK #ESG #ChooseBetter Principles for Responsible Investment Institutional Investors Group on Climate Change (IIGCC) UKSIF

A Crucial Moment for the UK's Net-Zero Future: The July General Election In a surprising move, Prime Minister Rishi Sunak has announced that the UK general election will be held on 4 July. This election is not just about choosing the next government; it could be a pivotal moment for the UK's commitment to a net-zero future. As environmental groups and industry leaders stress, the policies set forth in the upcoming manifestos could either propel us forward or set us back in our climate and nature goals. With less than six years remaining to meet our 2030 climate targets, including a 68% reduction in carbon emissions from pre-industrial levels and halting nature loss, this election is critical. It is great to see that sustainability is playing a bigger role in government elections! However, do you really see this as a turning point for the UK’s Net Zero Future?

A big day for the Scottish Government, with John Swinney MSP set to become First Minister.   It’s important to remember that, as well as plenty of challenges, the public sector also has huge opportunity. My colleague Kim McCann recently hosted a panel discussion at the amazing Dynamic Earth on Scotland’s potential to lead us towards net zero, and the importance of making it work for people. The policy challenge of the century!   The event made many of us Proud to be PA and the themes of the panel chime very much with the FM’s priorities:    Place is Important: Scotland’s geography, with the need for short haul sea and air travel for remote communities, is the perfect testing ground for low-carbon transport solutions. Looking ahead, government, wherever located, would be smart to find ways to turn challenges into opportunities for commercialisation.   We Need Systems Thinking: The private sector needs collaboration as well as competition, to ensure demand and supply for new technologies can work commercially. Government has an enormous role too, not just ensuring regulation works, but also in taking a strategic role to encourage the green economy. A great idea on the night was how Scottish Government and agencies can use their scale to work with agility to not only give firms support and approvals but become partners in innovation. Mr Swinney opening the door to innovators and experts is a great start.   Are Green Freeports a Model for the Just Transition? Ian Blackford set out the specific challenges of replacing the enormous GVA of oil and gas. Public finance constraints mean every penny of investment has to be ruthlessly targeted whilst ensuring people are not left behind. I do wonder if Green Freeports, targeting offshore wind and hydrogen, which link government investment to net zero and fair work commitments might be a model for the future.    Many thanks to the panellists Andy Smith, Christopher Jackson, Gerard Boyd, Graham Simpson, Thomas Beard who gave much food for thought – I know Gavin Neilson Scott Taylor and our other Edinburgh colleagues will keep the conversation going! 

A timely and critical message to the new government from Principles for Responsible Investment: "The transition to a net-zero, nature positive economy, the future competitiveness of the UK and the wellbeing of communities, workers and consumers are inextricably linked and can be tackled together". Read the full letter here: https://lnkd.in/eA5EEakC #EarthCapital #PRI #SustainableInvesting

We support the calls for a long-term and ‘whole-of-government’ approach to the delivery of the UK’s net zero strategy, as outlined by the UN Principles for Responsible Investment in a letter to new Prime Minister Keir Starmer.   The transition to a net zero economy is crucial if we are to limit the worst effects of climate change. All sections of business and society must work together to achieve it. As a responsible investor, we are committed to achieving net zero by 2050 or sooner. Investment in low carbon infrastructure and technology solutions will be needed to enable the transition. To date, we have invested an estimated £6.9bn in climate solutions via our equity and fixed income portfolios, with an additional £2.6bn committed to our Climate Opportunities strategy in private markets.  

As a signatory of Principles for Responsible Investment we’re in strong support of the recent letter sent by them, Institutional Investors Group on Climate Change (IIGCC) and UKSIF to the new PM, Keir Starmer 📝 The letter urges the new Labour government to develop a long-term and ambitious net zero strategy, including:  🎯 Targeted incentives 🏭 A comprehensive industrial strategy to decarbonise the wider economy 🌱 Restoration of natural assets to ensure our resilience 📊 Delivering the UK’s upcoming Nationally Determined Contribution and Carbon Budget See the full letter below 👇 For financial professionals only #Labour #KeirStarmer #ParmenionInvestment #NetZero