Liverpool's Potential as Climate Tech Cluster

A recent report has delineated the potential for Liverpool City Region to enhance its economy by establishing itself as a climate tech cluster. This strategy involves capitalizing on existing strengths to spur innovation and achieve its net-zero goal by 2040. The report underscores the region's distinctive assets, such as a robust industrial base, a history of fostering innovation clusters, and a skilled talent pipeline.

Identifying four priority sectors – electrification of transport, the marine and maritime sector (including the Mersey Tidal Power project), sustainable chemicals, and manufacturing innovation – the report recommends leveraging these areas as key opportunities to drive local climate tech innovation, attract investments, and stimulate economic growth.

Commissioned by the Liverpool City Region Combined Authority and created by Sustainable Ventures (SV), a firm known for collaborating with academic partners, the private sector, and the investment community, the report proposes nine interventions across these sectors. These include hackathons, round table events, and innovation challenges designed to encourage collaboration among innovators.

Key findings of the report include:

1. Net Zero presents a £1.4 trillion, once-in-a-generation investment opportunity to address leveling up, environmental targets, and ensure future prosperity for the Liverpool City Region.

2. Meeting the Net Zero target by 2040 necessitates the development of new technologies to facilitate decarbonization.

3. With appropriate interventions and investments, the Liverpool City Region possesses the attributes to establish a climate tech cluster, aligning with Net Zero targets and fostering a productive and prosperous future economy for its residents.

Sustainable Ventures has a history of collaborative efforts with local authorities to promote climate tech activities, having previously worked with Lambeth Council, the Mayor of London, and the West Midlands Combined Authority.