EIT Climate-KIC urges London to lead in turning climate emergency into action

Climate innovation agency EIT Climate-KIC welcomed today the first ever London Climate Action Week hosted by the Mayor of London, Sadiq Khan, following his announcement of a “climate emergency” last December. EIT Climate-KIC will sponsor and participate in various events throughout the week, which forms part of London’s preparation for September’s UN Climate Action Summit in New York and Khan’s bid to host the COP26 in 2020.

As part of the week’s events, EIT Climate-KIC is sponsoring The Economist’s Climate Risk Summit: Sink or Swim on 2 July. CEO Kirsten Dunlop will address the need to look at climate risk not as a simple financial or compliance risk, but as an extreme strategic risk which requires businesses, investors, cities, regions, nations, and communities to innovate and invest together in ambitious, city-and sector-wide transformations, to catalyse exponential increases in decarbonisation and resilience and to avoid future uninsurable losses.

Dunlop said:

Like any form of significant strategic risk, climate risk cannot be managed through traditional financial and compliance metrics. It must be addressed in terms of structural shifts – in economic models, in industry models, in business models and in life models. Simply put, it is a question of evolve or die.”

EIT Climate-KIC will further flesh out these issues as co-host of The Club of Rome’s Emerging from Emergency on 4 July. The event is a high-level roundtable which will bring together experts and activists to examine the practical needs of cities that have declared a climate emergency as a first step to designing an appropriate toolkit.

EIT Climate-KIC supports systems-wide approaches across Europe. In the UK, its  most recent collaborations are with three key city-regions: assisting Edinburgh to deliver on its net-zero emissions target for 2030 (the first UK city to set this target); supporting the Greater London Authority in developing its CleanTech London model to better connect innovators and entrepreneurs to the challenges set out by the Mayor; and aiding the West Midlands Combined Authority in its industry and civic transition away from fossil fuel dependence through the Energy Capital innovation partnership.

Other city-focused initiatives include EIT Climate-KIC’s Deep Demonstration projects, which are intended as inspirational examples of what is possible at the level of whole systems transformations when innovation and investment are collaborative, coordinated and mission-led. Our Healthy, Clean Cities Deep Demonstration, for example, takes the guesswork out of where and how cities need to invest and intervene by providing an evidence-based approach that indicates the systems interventions needed at whole city scale.

In addressing the global nature of climate change and the challenge of short-termist thinking, Dunlop said:

“We need to see transformation as the new normal to start to achieve the kind of change required in London and in cities around the world.  At EIT Climate KIC, our message is simple – we will work with any organisation, public or private, that is prepared to step up and own the challenge of transformation. Our community is composing a portfolio of interventions that tests for multiple and diverse solutions as rapidly as possible, helping cities, companies and communities to deliver large-scale impact.”

London Climate Action Week will shine a light on those cities and countries that have declared a climate emergency and citizens will be looking for coherence between declarations and actions, including the end of public subsidies, such as tax breaks and grants, for the fossil fuel industry.

EIT Climate-KIC supports the efforts of Mayor Sadiq Khan and his team to deliver genuine systemic transformation. Dunlop added:

“Sustainable finance is an important and necessary step but will do too little too late. As a large and complex global city, London’s Government, along with its public and private sector partners, have an opportunity to turn an emergency declaration into an innovation portfolio that is genuinely bold and provides clearer guidance on where and how to direct capital for a more transformative effect on the real economy. London has created the space to act – it must now follow through.”

 
Location
United Kingdom
Articles you may be interested in
In The News
EIT Climate-KIC and partners launch Massive Open Online Course on e-waste

EIT Climate-KIC, together with its partners the UN, the...

EIT Climate-KIC and partners launch Massive Open Online Course on e-waste
In The News
Five EIT Climate-KIC innovators featured in Global Cleantech 100

Five EIT Climate-KIC supported innovative ventures included in the...

Five EIT Climate-KIC innovators featured in Global Cleantech 100
In The News
The journey to zero-emissions transport – part three

The transport sector already accounts for a quarter of...

The journey to zero-emissions transport – part three
In The News
The journey to zero-emissions transport – part two

The transport sector already accounts for a quarter of...

The journey to zero-emissions transport – part two
In The News
The journey to zero-emissions transport – part one

The transport sector already accounts for a quarter of...

The journey to zero-emissions transport – part one
In The News
Malaysia and Estonia win Climathon Global Awards at ChangeNOW summit

The city of Penang, Malaysia, and a team of...

Malaysia and Estonia win Climathon Global Awards at ChangeNOW summit
Opinion
Redesigning venture capital (part III): A hypothesis
Dominic Hofstetter Transformation Capital, EIT Climate-KIC
Redesigning venture capital (part III): A hypothesis
Opinion
The Long Time
Beatrice Pembroke & Ella Saltmarshe Co-founders, The Long Time Project
The Long Time
In our community
Mariana Mazzucato on big-picture, high-ambition innovation missions
Mariana Mazzucato on big-picture, high-ambition innovation missions
In The News
Circular Cars Initiative launched at WEF Davos

The Circular Cars Initiative (CCI), supported by EIT Climate-KIC,...

Circular Cars Initiative launched at WEF Davos
In The News
EIT Climate-KIC CEO selected as a top expert to advise the European Commission

Yesterday, the European Commission announced EIT Climate-KIC CEO Kirsten...

EIT Climate-KIC CEO selected as a top expert to advise the European Commission
In our community
Net zero requires just, inclusive and radical transformations
Net zero requires just, inclusive and radical transformations
In Detail
New report: Is Germany ready for the future?

E3G´s new report “Is Germany ready for the future? The case for action in a climate-changed world.”, supported by EIT Climate-KIC, finds that Germany...

New report: Is Germany ready for the future?
Opinion
Redesigning venture capital (part II): A blueprint
Dominic Hofstetter Transformation Capital, EIT Climate-KIC
Redesigning venture capital (part II): A blueprint
In The News
EIT Climate-KIC’s work in Slovenia

Last November, the Slovenian parliament passed a motion to...

EIT Climate-KIC’s work in Slovenia
In The News
Slovenia adopts EIT Climate-KIC Circular, Regenerative Economies Deep Demonstr...

The Slovenian parliament passed a motion to adopt an...

Slovenia adopts EIT Climate-KIC Circular, Regenerative Economies Deep Demonstration
In our community
Cities in a 1.5 degree world: What is there to learn from Leuven’s May...
Cities in a 1.5 degree world: What is there to learn from Leuven’s Mayor Ridouani?
In our community
Slovenia adopts EIT Climate-KIC circular economy proposal: Q&A with Kirs...
Slovenia adopts EIT Climate-KIC circular economy proposal: Q&A with Kirsten Dunlop
Innovation Spotlight
Elemental Water Makers’ solar desalination an asset as climate change ...

EIT Climate-KIC supported Elemental Water Makers is a water desalination scale-up that’s transforming water systems by enabling...

Elemental Water Makers’ solar desalination an asset as climate change threatens clean water
Innovation Spotlight
Zolar’s household solar kit is democratising the energy sector

Energy production and consumption are the largest sources of greenhouse gas emissions in the European Union, accounting for 80 per cent...

Zolar’s household solar kit is democratising the energy sector
In our community
Interview with policy and governance innovation experts at Madrid and Basque...
Interview with policy and governance innovation experts at Madrid and Basque Country Universities
In The News
COP25: Measurement and attribution of climate contribution to financiers

With the carbon costs of travel in mind, key...

COP25: Measurement and attribution of climate contribution to financiers
In The News
COP25: Madrid city side event

With the carbon costs of travel in mind, key...

COP25: Madrid city side event
In our community
Interview about Futures Literacy with Riel Miller, Head of Foresight at UNES...
Interview about Futures Literacy with Riel Miller, Head of Foresight at UNESCO
In The News
COP25: Climate leader insights

With the carbon costs of travel in mind, key...

COP25: Climate leader insights
In The News
OpenSurface land-use tracking platform launches at COP25

Pioneering AI, satellite and ground-sourced data technology drives more...

OpenSurface land-use tracking platform launches at COP25
In The News
COP25: Towards the systemic transformation

With the carbon costs of travel in mind, key...

COP25: Towards the systemic transformation
In The News
Helsinki launches Climate Watch to track city’s emission reductions

The City of Helsinki recently launched the ‘Climate Watch’,...

Helsinki launches Climate Watch to track city’s emission reductions
Opinion
Moments matter*
Michelle Zucker Director, Community Activation, EIT Climate-KIC
Moments matter*
In The News
Naked Energy secures €6.17 million in funding

Naked Energy, an EIT Climate-KIC supported solar energy startup...

Naked Energy secures €6.17 million in funding