Day: 21 January 2024

UK’s energy supply needs over £900 billion investment to reach net zero by 2050, NatWest and BCG report says

Stuart Mitchell

The UK’s energy supply could require more than £900 billion in capital expenditure to achieve net zero by 20501, opening up a significant opportunity for public and private capital in enabling a successful transition, according to a new report published by NatWest and Boston Consulting Group (BCG) recently. Signalling the scale of investment needed, NatWest and BCG said the shift to a net zero energy supply is likely to involve significant investment in renewable generation, network infrastructure and new technologies such as energy storage systems, carbon capture and storage, and…

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Sustainable Markets Initiative Agribusiness Task Force launches blended finance framework to make regenerative farming mainstream

Stuart Mitchell

The Sustainable Markets Initiative’s Agribusiness Task Force today announced the launch of a new blended finance framework that could unlock trillions of dollars for regenerative agriculture. A Task Force of companies including Mars, McCain Foods, McDonald’s, Mondelez International, PepsiCo and Waitrose, unveil a plan to make regenerative farming financially viable and scalable; explore implementation projects in India, the UK and the US; welcome Lloyds Banking Group to boost cross-industry support, and call for policy changes to help support its implementation.  The global food system currently creates ~30% of human produced…

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Climate Adaptation and Resilience Financing Is Critical to the Survival of the Planet and Brings Significant Economic Potential

Stuart Mitchell

The climate crisis is no longer theoretical. Increasingly certain and worsening impacts of climate change are resulting in hundreds of billions of dollars in economic losses annually, and affecting lives, livelihoods, and economies around the world. Global leaders and businesses are beginning to recognize the urgent need to invest in climate adaptation and resilience alongside mitigation—particularly in the regions most vulnerable to climate impacts. However, there remain immense needs for adaptation and resilience finance, with the private sector currently only contributing a small fraction. A new study published by Boston…

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Scottish Water Reduces Energy Consumption by 60% and Cuts Greenhouse Gas Emissions with Sustainable Water Technology

Stuart Mitchell

Scottish Water has made a big dent in its greenhouse gas emissions by deploying advanced technology at 200 pumping stations across its network. By combining high-efficiency pumps and advanced digital technologies, the utility has reduced energy consumption by up to 60%, accelerating its goal of becoming carbon neutral by 2040. As Scotland’s publicly owned water supplier, Scottish Water provides essential water and wastewater services to more than 2.6 million homes and 150,000 business premises across Scotland. Its pump stations move water across a large geography, including remote villages and islands,…

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New Utilita Giving Chief Executive Announces £5 Million Food And Fuel Poverty Relief Fund

Stuart Mitchell

Utilita Giving’s new Executive Director has this week announced a £5 million fund dedicated to help households access the food and fuel they need. Founded earlier this year – and boosted by £5m seed funding from the UK’s leading Smart PAYG energy supplier, Utilita Energy – Utilita Giving will provide aid, tools, and advice to lift households out of food and fuel poverty now, and in the future. The fund is split into a variety of grants for anyone – not just Utilita customers – to apply for.  The charity…

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