Solent Businesses Keen to Meet Ambitious Energy Targets
Womble Bond Dickinson Energy Transition Roundtable
Womble Bond Dickinson ignited the Central South Energy Transition conversation at the first Energy Transition Roundtable held at the international law firm’s regional office in Southampton.
Attended by business leaders and decision-makers from the Central South region and experts working in the fields of sustainability and energy management, the roundtable examined the strategies, opportunities and hurdles arising from the government’s ambitious energy targets of achieving net zero greenhouse gas emissions by 2050.
Facilitated by Tim Hancock, Chair of Business South, the roundtable exchanged ideas and practices on the importance of green hydrogen, wind farm projects and solar initiatives, and how carbon capture and powerline capacity in the Central South are important priorities.
Discussing ideas on the potential of the region to harness wind power and the development of wind farm projects, it was noted that legislation is more favourable now and that people are more receptive to the idea of a wind farm in the Central South region. Wind farm sites are already being looked at in the south & southwest and with public acceptance on the rise, equal consideration should be given to both onshore and offshore wind farm opportunities.
It is expected that the demand for mobile technology will increase 20-fold by 2030, and the Central South region has put forward an application for an AI Growth Zone. Companies in the region are beginning to integrate AI into their business models – benefitting from system optimisation, enhanced recruitment processes and strategies to bridge skill gaps. The roundtable consensus was that collaboration will be key to unlocking the full potential of AI in the Central South. Whilst there is a need to address the technical and social challenges facing AI, the sea presents a unique opportunity for cooling data centres in the Central South region.
The roundtable concluded that if businesses are to reach expected government carbon emission targets, there will need to be significant investment in the Central South region. The scale of the challenge is huge, and futureproofing must happen to meet the increasing demand for power. Without action, the region will only achieve a 2% reduction in emissions which is far from meeting government targets.
In summer 2024, Womble Bond Dickinson conducted their 4th annual energy transition survey that gathered over 1,300 responses from 26 countries. Over a third of the responses were from the UK and Womble Bond Dickinson used those results to focus on energy transition in the UK.
Commenting on the energy roundtable, Jo Beattie-Edwards, Partner at Womble Bond Dickinson said: “Our UK-focused supplement comprises insights from 500+ UK energy suppliers, investors, and commercial consumers. While the findings revealed that the UK still faces many hurdles, it was also clear that a favourable and supportive political landscape, improving financing conditions, continued improvements in renewables technology, and the game-changing possibilities of AI are all combining to put the UK at a pivotal moment in its energy transition journey.”
A few weeks after coming to office, the government pledged to make the country a ‘clean energy superpower’ and has brought changes to the planning system and raised financial support for renewable energy projects. The UK has a target to reduce carbon emissions by 68% by 2030 compared to 1990 levels and is the only major economy to have set a target of 77% for 2035.
Companies in the Central South region are working hard to keep up with the pace of change. Measuring decarbonisation and understanding the importance of employing customer data and making use of hybrid working strategies to reduce carbon footprints. Without significant investment, challenges and hurdles remain, but the outlook is increasingly optimistic and positive in the region. Solent businesses are adopting innovative and sustainable strategies and adopting energy-saving initiatives and AI to support the government’s ambitious energy targets and secure a greener future for the region.
For further details contact,
Jo Beattie-Edwards, Partner at Womble Bond Dickinson
