Reading’s first ever Climate Fayre was held yesterday (22 November), drawing business leaders from across the region.
On the agenda was the transition to net-zero and how this could contribute to fighting the cost of living crisis, as the region's leaders came together following COP27 in Egypt.
The Reading Environmental Sustainability Quorum, a group of organisations in the Reading area working in partnership to counteract the effects of climate change, held the event in partnership with its members and headline sponsor NatWest.
Industry specialists were on hand to talk to attendees on the steps they can take to limit their contribution to climate change, with advice including how to develop a sustainability plan and how to build the business case for investment.
Businesses of all sizes in Reading and the Thames Valley were invited to the free event, with a large number turning up on the day, showing the dedication of local business leaders to counteracting climate change while developing new revenue sources.
A range of presentations, panel sessions and exhibitions were held throughout the day from a list of guest speakers which included:
Headline speaker, Dr. Maria Carvahlo, Head of Climate Economics & Data at NatWest, discussed the findings of NatWest’s recently published “A Springboard to Sustainable Recovery” (2022) report which promote the opportunity UK SMEs have to benefit from a £175 billion 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 per cent emission decrease target by 2030, with these businesses potentially contributing up to 50 per cent towards the UK’s total emissions reduction process.
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Speaking on the findings, she said: “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.
“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.
“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 £175 billion 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.
“At NatWest, we’re determined to help the UK transition to a more sustainable economy and want to support businesses on their own journey with expert advice, support and funding”.
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 commitment to continuing to identify and support exciting, future-focused businesses to thrive in the region, creating sustainable growth and employment opportunities in Reading.”
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Featured image credit: Professional Images/@ProfImages
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