The British Patient Capital team (subsidiary of British Business Bank) in Sheffield spent last Wednesday afternoon with Climate Clarity considering how they might factor an unpredictable climate landscape into their investment decisions.
BPC works with venture capital funds to support the flow of capital to innovative UK businesses. They manage more than £3bn of assets, and are helping to ensure high-growth companies have access to the right type of funding at the right time as they expand, create jobs, develop products or enter new markets.
The teams were already screening investments on Environmental, Social and Governance (ESG) criteria, but had thus far been focussing more on the ‘S’ – on valuable social elements like diversity. After brainstorming effective climate actions during the workshop, they resolved to get more serious about the ‘E’ and make environmental impact a key part of their decision-making process. Great news!
Climate Clarity’s Ash, Rupert and Mike were welcomed in Sheffield by beautiful winter sunshine and copious amounts of tea. The workshop took place on the 6th floor of Steel City House, affording views across the whole of Sheffield and setting the tone for the great heights of the afternoon’s ambition.
There was a high level of climate knowledge over the 4 tables of fresking teams, which made for a great collaborative learning environment. The group moved through the card game and the creative reflection with ease, but it was the action phase that really kicked the energy in the room up a gear.
The excitement was palpable as individuals shared their ideas for bold climate action. BBB’s Head of Sustainability Julia Groves was on hand to rally the troops and help refine ideas into concrete next steps for the bank.
It’s crucial to think about what is in your direct power to change and also recognise what might require further steps to influence. ‘Who can I talk to about changing that?’ ‘What email could I send to someone better placed in this field?’ ‘What group could I assemble that would have the power to influence that?’
This is where the scope of what we can change in our workplaces and communities starts to expand. Each of us is part of a network and can look at our leverage points within that web of connection.
The BPC team in Sheffield left the workshop feeling motivated and clear on specific actions they could take to factor the disruption of our climate system into their work. It’s clear that ‘business as usual’ isn’t going to cut it.
If you’re wondering what the impact of a Climate Fresk workshop could be in your workplace, get in touch at info@climateclarity.co.uk.
You can book a no-commitment chat with one of our team to learn more, discuss options and even have a little go at the card game yourself. No level of climate knowledge required. Just a willingness to engage and maybe learn something.
The financial sector has a huge role to play in fighting climate change – if banks cut funding to big high-carbon projects, they simply can’t go ahead. For more info on the state of affairs, check out this report ‘Banking on climate chaos’ (2022) and consider switching bank to one that doesn’t finance fossil fuels. Moving your money (including pension!) is one of the most high-impact individual actions you can take.
