Olympia London was the venue for Innovation Zero on 30th April and 1st May 2024, with 10,000 delegates expected and a comprehensive programme featuring 600+ world-class speakers across 175+ content sessions who are experts in climate change mitigation, clean technology innovation and implementing low carbon solutions. This event is the UK’s largest gathering on the topics of achieving net zero emissions, environmental preservation, and sustainability.
The event attracted exhibitors and speakers from energy companies promoting renewable solutions and private and public investors keen for an overview of the market and connections with the innovators seeking funding.
Monitoring and reporting frameworks are an essential part of reaching net zero emissions. The panel on ‘Global disclosure rules and sustainability reporting’ urged that disclosure is not a burden; it is an opportunity to show progress. CDP, the Carbon Disclosure Project, runs the global environmental disclosure system. Through the online platform, CDP supports thousands of companies, cities, states, and regions in measuring and managing their risks and opportunities regarding climate change, water security, and deforestation. This information is used to score companies and cities based on their journey through disclosure and towards environmental leadership. The CDP independent scoring methodology enables businesses and cities to measure progress and incentivise action on climate change, forests and water security. The IFRS Foundation (International Financial Reporting Standards) is a not-for-profit, public-interest organisation established to develop high-quality, understandable, enforceable and globally accepted accounting and sustainability disclosure standards. Harmonised, consistent, and standardised reporting and disclosure is the goal for current reporting on climate. Biodiversity, ecosystems and ecosystem services are the next features beyond climate disclosure. The panel considered that actions on climate and nature are intrinsically interlinked, and all businesses have an impact on nature. The purpose of disclosure is to drive change in business strategy, and it is essential that businesses and cities alike consider nature, natural resources, and natural systems in their decision-making.
Despite the imperative to address nature in decision-making, investors encounter challenges when attempting to connect biodiversity enhancements with financial gains. While assessments of financial risks related to biodiversity are still emerging, various metrics and indicators exist to evaluate their effects and interconnections within the financial realm. In the session on ‘Biodiversity risk and the nature positive transition’, panellists explored the array of existing methodologies with a view to applying these to recent advancements in biodiversity regulations. The question was raised – is the statement that biodiversity is hard to measure an excuse for not including it in economic decisions?
This topic of ‘Adaptation finance’ was addressed by a panel of investors from private and philanthropic sectors. The panel discussed concerns that adaptation investments compete with other investment options and may deliver benefits on a longer time scale; both points which might limit the attraction for investors. Only three per cent of funding for adaptation comes from the private sector and foundations, despite the agenda being broader than climate-related investments and the belief that most adaptation actions are also positive for mitigation goals.
Agriculture was addressed from the perspective of soil health and carbon sequestration. Healthy soil is fundamental to our food systems, fostering biodiversity and serving as a vital carbon sink. Yet, approximately 40 per cent of global soil is degraded, diminishing its capacity to sequester carbon. Upholding soil health is paramount for meeting climate objectives and ensuring future food security. In the session on ‘Opportunities in soil health and sequestration’ that explored how farmers and individuals can enhance soil health through regenerative agricultural techniques, Helen Browning, Group Chief Executive of the Soil Association, explained how recognition of the importance of soil health had grown steadily and is now widely practised across the farming sector. The EU is aiming to grow organic farmland by 25%, with Austria and Germany going further and striving for 30%. England is lagging behind, with no government targets set for organic production. Agricultural emissions could drop by 40-50% by 2050, with Europe transitioning to a food and farming system based on organic principles. Technology is often pitched as a way to improve efficiency and reduce emissions. Another panel addressing ‘Technology and innovation for a sustainable future’ discussed that, in agriculture, the high capital investment in technology is often a limitation to the adoption of innovation. However, similar to horticulture, labour shortage is often a key determinant that motivates technological interventions.
This is only the second year that Innovation Zero has been held. The ornamental horticulture and agriculture sectors were under-represented, and AIPH encourages its members and allied businesses to engage in conversations about climate adaptation and be represented in these high-level discussions that inform and drive political will and investment.
