Here are the climate-related sections of speeches by MPs during the Commons debate UK-based Tech Companies.
14:59 Alison Taylor (Labour)
Working in conjunction with academia from across Scotland and the local West College Scotland, that collaboration drives innovation and new technologies. The new innovation zone supports emerging sectors such as photonics, which is important for medical imaging, solar power and high-speed telecoms. Advanced manufacturing in the zone will also support sectors such as net zero shipping, energy-efficient aerospace, the circular economy and green jobs. It is a model for how the Government can drive growth and support innovation in the tech sector.
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15:06 Edward Morello (Liberal Democrat)
One area where the UK has a huge opportunity is climate technology. As the chair of the all-party parliamentary group on ClimateTech, and having spent nearly a decade working in renewable energy finance before entering Parliament, I have seen how much potential this sector has. Between now and 2050, the world will need to remove 165 billion tonnes of carbon dioxide from the atmosphere, with annual removals reaching about 10 billion tonnes a year by the mid-century if we are to limit global warming to between 1.5°C and 2°C. The Intergovernmental Panel on Climate Change has made it clear that without carbon-removal technologies, those goals will not be met.
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15:13 Edward Morello (Liberal Democrat)
Climate technology is not only an environmental priority, but a huge economic opportunity to lead a sector the world will need for decades to come. The UK’s greenhouse gas removal sector alone is now valued at £1.2 billion, with investment increasing by more than 39% in 2024—faster than the technology sector as a whole. According to analysis aligned with the Climate Change Committee’s seventh carbon budget, greenhouse gas removal technologies could support over 60,000 high-quality jobs in the UK by 2050. The Government have already taken some positive steps: funding for carbon capture and storage clusters, investment in innovation programmes, such as direct air capture and bioenergy carbon capture, and plans for new clean tech innovation challenges. Those are all important developments.
However, challenges remain, particularly when companies try to move from early innovation to large-scale deployment. Many climate technology companies face what is often called the valley of death. Early-stage funding can help to get ideas off the ground, but when companies reach pilot or demonstration stage, that funding often disappears. Data shows that although almost all seed-stage companies move forward, only one third successfully progress beyond series B investment. At that point, the technologies often require significant capital investment to scale, which requires the Government to project confidence to the sectors and investors. Without stronger support mechanisms, whether through the National Wealth Fund, the British Business Bank or other targeted policies, many promising technologies risk stalling before they ever reach market.
The UK needs a clear long-term approach to science and technology. That includes raising research and development spending to 3.5% of GDP, investing in digital infrastructure, supporting local government capacity and ensuring that the benefits of technology are spread around the country. It also means continuing to invest in green technologies, which is essential if we are to tackle the climate crisis, while creating new industries and job opportunities. The UK has many of the ingredients needed for success: world-class universities, strong research institutions and an entrepreneurial technology sector. What we must do now is make sure that the environment is right for those companies to grow.
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15:13 Victoria Collins (Liberal Democrat)
I have a dream that we will grow our fantastic UK tech landscape. As my Friend the hon. Member for West Dorset (Edward Morello) mentioned, we can solve the biggest problems, such as climate change. We can drive that change, but more than that, we could be the country that takes in scale-ups and does not fear that the companies that incubate here will go elsewhere. Anthropic, for example, may not be welcome in the US; I hope it would be welcomed in the UK. The Government must do more to back British tech for our security, economy and the great people driving innovation in Great Britain and around the globe.
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15:35 Kanishka Narayan (Labour)
The points of the hon. Member for West Dorset (Edward Morello) about energy tech were well made. I feel very strongly that our plans on clean energy are best pursued if they make the most of AI and modern technology. I think that they are pursued with a deeper sense of building public consensus if we are able to show that our clean energy values align with our prosperity aspirations around AI and technology, not just domestically but through Britain’s ability to export lessons and technology to other places, and to move the needle on global climate change.
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