Lambeth Town Hall

Lambeth Council hailed for pioneering climate tech support

Lambeth Council has continued to bolster its green credentials by successfully backing a climate tech ecosystem, in turn supporting more than 500 sustainable businesses through flexible workspace, investment and sector expertise.

Sustainable Ventures, Europe’s largest climate tech hub, received £1.45m in funding from Lambeth’s Future Workspace Fund. 

The cash injection underpinned the development of the breathtaking 40,000+ sq ft workspace at County Hall, the iconic ex GLC building on the Thames. The sprawling fifth floor hub supports scores of climate-focused organisations – including Earthshot Prize 2023 finalist ENSO, who make cleaner car tyres.    

Sustainable Ventures’ ecosystem of more than 500 ventures have raised £1billion in funding and created more than 5,500 green jobs. It aims to develop 1,000 sustainable start ups by next year. 

Andrew Wordsworth, Managing Partner at Sustainable Ventures, said: “Lambeth Council is the gold standard of climate tech partnerships – we’ve created impact faster thanks to them. I’d urge all other councils to look at the example set by Lambeth: develop a sustainability strategy and create green jobs.”

Lambeth was the first borough in London to declare a climate emergency in 2019. In 2020 it launched its Future Workspace Fund, an £8m loan and grant capital fund to increase the provision of affordable and supportive workspaces.

Sustainable Ventures unlocked over £4m in match funding to create its flagship HQ. Startups in sectors including agritech, building technology and mobility receive access to flexible workspace, investment and sector expertise. The workspace also provides opportunities to connect and collaborate with like-minded climate innovators. 

Lambeth has also helped Sustainable Ventures run support programs for businesses in the borough through its Economic Resilience Fund. The ‘Innovation Challenge’ is one such program linking established businesses in Lambeth – such as the National Theatre and Kings College Hospital – with innovators in the Sustainable Ventures ecosystem. The innovators support on issues like waste and the circular economy for the established business. 

By supporting Sustainable Ventures, Lambeth Council is delivering on its Climate Action Plan and wider 2030 plan. It’s helping to create jobs, training opportunities and inward investment into the borough, while actively promoting greater equity among our community.

Since opening in July 2023, over 100 startups have been directly supported by Lambeth Council. The workspace is now at 97% capacity due to the increased demand of companies working on the climate challenge. Climate startups can apply for space in the hub here.

Dr Jacqui Dyer MBE, Lambeth Councillor, said: “The partnership between Lambeth Council and Sustainable Ventures has created lots of opportunities in the borough and really highlights Lambeth's commitment to fostering climate tech innovation and sustainable solutions. Sustainable Ventures is the perfect partner to deliver on this, being Europe’s largest climate tech hub, and we’ve already nurtured 40 such startups in the borough during the last 2 years.

“Through our support we greatly increase the opportunity for growth of these startups - and as a result bring more investment and job opportunities into the borough.”

 

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