UK tech firms forge partnership to drive net zero progress

Businesses including Revolut, Monzo and Starling Bank have joined the Tech Zero taskforce to help drive sustainable investment and encourage greener life choices

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A coalition of UK tech firms including Revolut, Monzo and Starling Bank have partnered to tackle climate change, drive sustainable investment and encourage greener life choices.

Led by Bulb co-founder and CEO Hayden Wood, the Tech Zero taskforce includes firms from the banking, energy and healthcare sectors, such as allplants, Babylon, Citymapper, Faculty, GoCardless, Habito, Hopin, Moneysupermarket Group, OLIO, Onfido, what3words Wise, OakNorth and Vodafone

Officially launching in London today, the initiative aims to gather 1,000 members by the time COP26 takes place in Glasgow during November – these members will have to measure all of their emissions and set a net zero target by the end of 2021.

The Tech Zero taskforce, led by Bulb CEO Hayden Wood and industry bodies Tech Nation London & Partners and Level39, also dictates that members must publish scope 1, 2, and 3 carbon emissions in line with taskforce for climate-related financial disclosure (TCFD) guidelines.

They also need to publish a climate action plan by the end of the year and appoint an executive member of staff to be accountable for net zero progress.

Hayden Wood, leader of the taskforce, said: “Everyone’s been grappling with the challenge of net zero and the Tech Zero taskforce means we can work together to make progress faster. As some of the fastest-growing companies in the UK, we want to help at least 1,000 companies set rigorous climate action plans, and help our 100 million customers make greener choices.”

Digital Secretary Oliver Dowden said: “The digital drive towards net zero is not only good for the planet, it also makes good business sense. I urge firms to play their part and sign up to the Tech Zero taskforce and its ambitious targets as we look forward to COP26.

“As a government we are unashamedly pro-tech and the industry has our full support as it brings its innovation, entrepreneurship and creativity to tackle one of the greatest challenges of our time.”