Laimonas Noreika, co-founder of HeavyFinance, explores the benefits that will be brought by the newly launched new Climate Tech Supercluster.
- The new Climate Tech Supercluster made its debut at London Tech Week with aims to accelerate European Climate Tech hotspots and spearhead developments of clean technologies.
- To drive innovation and accelerate progress towards a net zero economy, collaboration among European organisations is paramount.
- By increasing access to R&D, empowering businesses of all sizes, and advocating for carbon reduction policies, the Supercluster will spearhead awareness and accelerate the transition to a sustainable future.
With rising temperatures fuelling environmental degradation, food and water insecurity, economic disruption and conflict, the world is witnessing the growing urgency to combat climate change. As called for in the UN’s Paris Agreement, plans have been set to reduce emissions by 45% by 2030 and reach net zero by 2050, which have in turn been met with a significant increase in climate tech development.
Current practices within the agricultural sector contribute around 37% of global greenhouse gas emissions, hosting a pivotal role in this transition.
Earlier this year, the UK Government announced a £9.13 million investment into cutting-edge farming technology projects, but further action is needed. A new report from the Public Accounts Committee called on the Government to provide a more coherent delivery plan to lure investment into renewable projects.
Therefore, to drive innovation and accelerate progress towards a net zero economy, collaboration among European organisations is paramount.
During London Tech Week, the new Climate Tech Supercluster made its debut with aims to accelerate European Climate Tech hotspots and spearhead developments of clean technologies. It will play a key role in fostering European-wide collaboration, championing awareness, and facilitating research and development (R&D) support to address disruptions caused by climate and sustainability risks.
Increasing access to R&D
Such collaboration will empower climate tech companies, enabling the exchange of best practices, accelerating the development and deployment of climate-smart technologies, and encouraging the adoption of sustainable practices. Resources, expertise and all research efforts can be pooled and explored, rather than stopped and stemmed at local levels.
This collective approach ultimately helps bridge the gap between different stakeholders, fostering a holistic and integrated response to climate change. The Supercluster will facilitate collaborations between academia, research institutions, and private enterprises, ensuring a continuous flow of innovation and knowledge transfer.
Its initial focus centres on connecting numerous tech hubs home to leading universities such as Oxford, Cambridge and Imperial in the UK, the Delft University of Technology in the Netherlands, Vrije Universiteit Brussel in Belgium, and Ecole Polytechnique in France, where many have been pioneering clean technologies in recent years.
Such connections will be crucial to unlocking access to R&D resources where small and medium-sized enterprises (SMEs) may have struggled, often facing resource constraints.
By fostering an ecosystem of collaboration and support, the Supercluster enables breakthrough solutions to emerge and allows entrepreneurship to be nurtured.
Awareness and policy advocacy
In addition to supporting businesses, the Climate Tech Supercluster will play a vital role in raising awareness about the urgent need for investing in climate tech. By organising events, conferences, and workshops, the group can educate stakeholders, policymakers, and the public on the impact of climate change on agriculture and the potential solutions available.
By leveraging its collective influence and expertise, the Supercluster can provide input and recommendations to policymakers on the design and implementation of effective regulatory frameworks. It can advocate for the alignment of policies across different countries and regions to create a level playing field for climate tech businesses.
Additionally, it will also be a key contributor to the development of standards and certification systems that promote transparency, credibility, and accountability in the deployment of climate technologies.
Connecting businesses, investors, and policymakers means that organisations can also facilitate market intelligence, demand forecasting, and business matchmaking.
Moreover, the Supercluster can serve as a global leader, advocating for the adoption of carbon reduction policies amongst other industries. By showcasing the economic and environmental benefits of sustainable practices, the group encourages broader engagement and investment in the climate tech space. Such advocacy will in turn ensure that the fight against climate change remains at the forefront of the political and social agenda.
By increasing access to R&D, empowering businesses of all sizes, and advocating for carbon reduction policies, the Supercluster will spearhead awareness and accelerate the transition to a sustainable future. As climate change continues to disrupt multiple sectors, the need for such collaborative initiatives becomes even more critical. By harnessing innovation and collective action, the Climate Tech Supercluster can help pave the way for a more resilient, productive, and sustainable European economy, while hosting unprecedented benefits to the world and its people.
The opinions of guest authors are their own and do not necessarily represent those of SG Voice.