In a world increasingly shaped by climate urgency and technological possibility, the question is no longer whether we innovate, but how we measure the impact of that innovation.
A recent article from the World Economic Forum (WEF) highlights a critical shift in climate tech: moving beyond hype to meaningful progress. It calls for better metrics, deeper collaboration and a sharper focus on outcomes that truly move the needle on sustainability. This resonates deeply with our journey at Wates.
At Wates, we are driven by our purpose – reimagining places for people to thrive. We are committed to creating a more sustainable built environment and are constantly exploring new ways to deliver meaningful change.
We also believe that collaboration is key to delivering and scaling innovation at pace. That’s why, in 2021, we launched the Sustainable Innovation Competition in partnership with Lloyds Banking Group and why, in 2025, we’ve expanded it to a total of five banks and building societies.
This first-of-its-kind initiative is designed to identify and implement sustainable solutions that can help decarbonise the financial services sector. Delivered in partnership with the Sustainable Business Consortium (previously Rutland Forum), the competition invites UK-based businesses to pitch their technologies to a panel of sustainability and innovation experts. Winners secure the opportunity to pilot their solutions with the financial institutions and join the Wates Innovation Network (WIN) – our platform that connects customers across all sectors with market-leading sustainable technologies and services.
The competition and the WIN portal are spaces where innovation meets impact, and where ideas are turned into actions.
This year, competitors were challenged to address at least one of five pressing sustainability themes:
- Reducing operational emissions, including fluorinated gases
- Reducing embodied carbon and waste
- Enhancing biodiversity
- Encouraging sustainable and low-carbon business travel
- Driving behavioural change on the path to net zero
These challenges reflect the real-world pressures facing the financial services sector – and the opportunity to lead by example in the transition to a low-carbon economy.
As the WEF article reminds us, ‘progress in climate tech must be measured not just in patents filed or capital raised, but in emissions avoided and ecosystems restored’. We couldn’t agree more.
Partnerships like those formed through the Sustainable Innovation Competition are vital to scaling innovation at pace and building a more sustainable future. In fact, our approach directly supports UN Sustainable Development Goal 17: Partnerships for the Goals, which recognises that cross-sector collaboration is essential to achieving meaningful progress on sustainability.
We’re proud to be a catalyst, supporting the financial services sector on their net zero journeys by connecting them to emerging sustainable technologies through the competition and the WIN portal. The positive environmental impact these innovations can deliver is just the beginning.
How these innovations evolve, scale and contribute to a more resilient built environment is exciting to witness, because when we measure what matters, we unlock the full potential of our people, our partners and our industry to shape a thriving, sustainable future.
