Italy-UK Partnership

PARTNERSHIP | Autumn 2020 20 Scotland’s COP26 and clean tech A natural supply chain for renewable energy projects I t is official: Scotland will host the 26th UN Climate Change Conference of the Parties (COP26) at the Scottish Event Campus (SEC) in Glasgow on 1-12th November 2021. The confirmation was received with relief from local stakeholders, after the cancellation of the event initially scheduled for this November and the risk of a location change due to health and safety reasons. The Conference will bring together over 30,000 delegates from all around the world, including Heads of State, experts and stakeholders to agree coordinated action to tackle climate change. The occasion is of particular interest for institutional and commercial relations between Italy and the United Kingdom, being the COP26 Presidency held by the UK in partnership with Italy. Before the conference, in fact, the city of Milan will host a number of key preparatory events such as a Youth Event and the Pre-COP Summit. Thoroughly committed to the principles of the UN, this partnership will focus on fostering concrete actions and changes necessary to meet the objectives outlined in the Paris Agreement. Italy and the UK have already shown their commitment in this sense, having pledged to phase out coal power by 2025 and reach net zero emissions by 2050. The global market for low carbon heat technologies is predicted to grow to £308bn by 2050. In this context, there is no better industry for business opportunities than Scotland’s booming renewable energy sector. The nation has plentiful natural resources, a prominent engineering tradition and a strong will to shape a greener global economy. With its engineering knowledge, remarkable offshore energy capabilities and exceptional Government support, Scotland is a natural supply chain partner for renewable energy projects worldwide. OPPORTUNITIES FOR BUSINESSES With 25% of Europe’s offshore wind and tidal resource and over 60% of the UK’s onshore wind capacity, Scotland is fully committed to its green energy targets. Such objectives include generating 100% of its electricity demand from renewables by 2020, delivering 50% of Scotland’s total energy consumption from renewables by 2030, reducing greenhouse gas emissions to net zero by 2045, and phasing out the need for new petrol and diesel vehicles by 2032. Scotland’s enterprising energy supply chain can count on over 2,000 energy and engineering companies supplying offshore oil and gas for fifty years, and distributing it to over a hundred countries, generating £10bn each year. As set out by Scottish Enterprise, Scotland’s national economic development agency, investing in the country would grant access to both