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Aboutthe ClimateTech Policy Coalition The ClimateTech Policy Coalition consists of the Startup Coalition, Undaunted, techUK, Tech Nation,Cleantech for UK, and TechZero. Together they represent entrepreneurs, inventors and innovators on the Its mission is to help unlock the economy of the future: a low to no carbon future of green growth fuelled InDecember 2022,the ClimateTech Policy Coalition published its first report on steps that theGovernment should take to unlock ClimateTech innovation in the UK. The report featured the findingsfrom a series of roundtables that took place between June and October 2022. This report is an update to AboutStartup Coalition StartupCoalition,formerly the Coalition for a Digital Economy(Coadec),is an independent advocacy group that serves as the StartupCoalition was founded in 2010 by Mike Butcher,Editor-at-Large of technology news publisher TechCrunch, and Jeff Lynn, Chairman and Co-Founder ofonline investment platform Seedrs. Startup Coalition works across a broad range of policy areas that AboutUndaunted Undaunted–a partnership between Imperial College London and the RoyalInstitution – is nurturing a climate innovation ecosystem in London, supportingsuccessful creation and scale up of businesses that tackle climate change. Over150exciting startups have graduated from its accelerator programme,TheGreenhouse, going on to raise more than $1 billion in investment since 2012 and AbouttechUK techUKis the UK’s leading technology membershiporganisation, with more than 850 members spread acrossthe UK. They are a network that enables its members to to the country both socially and economically. By working collaboratively with government and others,they provide expert guidance and insight for their members and stakeholders about how to prepare forthe future, anticipate change and realise the positive potential of technology in a fast-moving world. AboutTech Nation Tech Nation is the leading growth platform for techinsights,connections,collaboration and talent,empowering ambitious founders and their teams Powered by the Founders Forum Group, our approach unites the tech ecosystem whilst placing foundersfrom all corners of the UK and beyond at the forefront, amplifying their needs and challenges and AboutCleantech For UK Launchedin February 2023,Cleantech for UK is aninitiative which was set up to provide a collective policyvoice for a group of climate focused, UK based investors. cleantech, to develop climate technology in all forms. The coalition comprises a group of companybuilders and investors spanning the innovation lifecycle from company formation to IPO and beyond,united in trying to bring forward the next generation of UK clean industry. Further detail on the coalition The initiative is supported by Bill Gates’ Breakthrough Energy and organised by Cleantech Group. AboutTechZero Tech Zero is the climate action group of over 350 tech companies committed toreaching net zero. We aim to decarbonise the tech industry as soon as possible byeducating tech companies across all sustainability topics; offering wide-ranging ExecutiveSummary In December 2022, the ClimateTech Policy Coalition produced its first report advocating for low to nocost policy changes in the UK to promote climate innovators to mitigate, adapt to, and know more about Twelve months later this report reflects on a year in ClimateTech policy, includes views from founders onthe frontline, and examines progress made on the recommendations from the first report. It has been a busy year in climate policy: from the creation of a new department overseeing the UK’senergy security and net zero strategy, to an Independent Review of Net Zero. Onpage sixof this report As always, the work of the Coalition is grounded in the experiences of founders doing the actual work.Their reflections on the past year are summarised onpage sevenand depict a year filled with distraction Frompage eightonwards, we critically assess the progress made across our 28 recommendations from Two of our recommendations have been enacted:the definition of greenhouse gas removal has beenupdatedin law with the passing of the Energy Act which will provide a small step forward indemonstrating the UK Government’s commitment to the engineered removals sector. Meanwhile, Ofgem Thirteen of our recommendations have made marked progress but still have some way to go. Theseincluded the need to create a consistent policy environment for ClimateTechs, which wascomplicated by the Prime Minister’s pivot on messaging, but has not materially led to dramatic policychange in the short-term. Also amongst these recommendations was the need to reform the pension Further, we’ve also seen concrete steps in refreshing and reforming regulation to support ClimateTechinnovation: reform of the novel food regulations has progressed with Deloitte’s independent review, whilstthe Government announced a surprising ambition to explore the introduction of a “Wast