The Peresus Steering Group met on the 23rd November 2023. During the meeting the group heard updates from each of the Advisory Groups, an update on COP 28 and endorsed the direction of the plan for 2024.

Updates were given on:

• Positive political support & the evolving political landscape
• Progress across each of the Advisory Groups (AG)
• Technical progress

Key insights:

• The direction and progress of Perseus was approved by the Steering Group
• It was noted that Perseus is in a really good position as we come to the end of 2023 and for COP but that changes to government ministers and the upcoming election are challenges.
• It was noted that Ofgem has published their data strategy, focusing on a data sharing infrastructure, centering on a Trust Framework
• It was noted that AG1:
  • Role is to determine what Perseus ‘should’ do and other AGs to work out ‘how’
  • Role of AG1 is to determine how do we get the information from a aggregators
  • We have developed all links in the chain to deliver automation of location-based emissions at half-hourly resolution.
  • We have developed a location-based methodology. Based on MPANs, a unique ID for each smart meter.
  • Use cases: Small businesses, Banks, Carbon accounting, Audit, Regulators/policy makers
• It was noted that AG2’s scope has been to define what’s needed to deliver the demonstrator and consider how the use cases would affect infrastructure and tech
  • It was noted that FAPI is the right approach
  • It was noted that connectedness should be included in assurance processes
• It was noted that AG3 has discussed terminology e.g. use of ‘permission’, the nature of the data and establishing appropriate regimes for a standardised and repeatable process.
• The granularity of data for banks was raised, it was noted that a high granularity of data is necessary to ensure insights are correct and unlock capital.
• A question on the number of use cases was raised, it was noted that Perseus would focus on initial use cases, create sandbox environments and look at consequences and impacts.
• It was noted that AG4 has focused on establishing long-term foundations for communicating Perseus and mobilising strong communications from IB1, B4NZ, AG and SG members
  • It was noted that the following goals have been established:
    • Build trusted reputation
    • Build clear awareness of the value of programme
    • Opportunities for engagement
• It was noted that AG5 has reviewed policy issues and established five top priorities:
  • Identifying and addressing regulatory issues that will affect demo
  • Mapping data protection issues relating to Perseus
  • Exploring policy implications of types of data being handled
  • Defining rules around interoperability to ensure Perseus works seamlessly with accounting platforms
  • Identifying and addressing barriers to data access e.g. landlords unwilling to share energy data
• It was noted that there will be a Perseus event during COP on Sunday 3^rd December at 7.30pm at the UK Pavilion, where the project will have governmental support.
• It was noted that the plan for Perseus in 2024 will be to go from demonstration to pilot phase.
• It was noted that, while they are both instrumental in delivery, IB1 and B4NZ will maintain separation of membership, plans and funding from 2024
• It was noted that the objective for the end of the year is to finish the formal business plan
• It was noted that volunteers are welcome in forming a subset of the SG focused on financial governance and risk for 2024

Attendees:

Principal: Heather Buchanan, Co-Founder, Bankers for Net Zero

Chairs:
Gavin Starks, CEO, Icebreaker One
Tony Greenham, Director of Sustainability, British Business Bank

Steering group members:

Alex Veitch, Director of Policy and Public Affairs, British Chambers of Commerce
Charles Wood, Deputy Director Policy, Energy UK

Charlie Merser, Deputy Policy Director, Startup Coalition

Engineering and Machinery Alliance

Jennifer Tankard, Commercial Finance Leader, UK Finance

ICAEW

AG Co-chairs:

Andrew Griffiths, AG5 Co-chair, Planet Mark

Chris Martin, AG3 Co-chair, Pinset Masons

Duncan Oswald, AG1 Co-chair, Sage

Frank Wales, AG2 Co-chair, Icebreaker One

Laura Townsend, AG4 Co-chair, Icebreaker One

Observers:

Dan Altman, Net Zero Business Engagement Lead, DESNZ

Miriam Koreen, Senior Counsellor on SMEs, OECD
Sarah Kemmitt, Lead Secretariat, UNEP FI

Vikas Aggarwal, Regional Head of Public Affairs, ACCA

IB1 team:

Gea Mikic, Programme Director; Zoe Swiderski, Senior Project Manager; Jakob Howard, Bid and Sales Coordinator; Poppy Joyner, Project Support

B4NZ team:

Elliot Cyriax, Head of Strategy & Programmes; Eleanor Crabb, Head of Engagement

Apologies:

Adam Jackson, Director of Policy, Innovate Finance

Alexandra Hall-Chen, Institute of Directors

Catherine Westoby, Net Zero SMEs Lead, BEIS/DESNZ

Irene Graham, ScaleUp Institute

Jack Rowley, Policy Manager, Lending Standards Board

Martin Traynor, Small Business Crown Representative, Cabinet Office

Michael Izza, CEO, ICAEW

Sara Tomley, SME Lead, Confederation of British Industry

Sarah Tennison, Head of Impact and Lead on Financing Net Zero, Innovate UK

Chris Gentle, Senior Advisor New Business Ventures, World Energy Council