The climate technology industry has exploded in the past decade, with more than $70 billion investing in 2022 and another record-breaking year expected in 2023.
PWC estimates that more than one-quarter of all venture capital funding is now going to climate technology, with a focus on decarbonisation.
Just a decade ago, climate tech was largely unheard of, with little funding coming from the world’s biggest companies. But skip forward 10 years, after multiple COP climate summits, and climate tech is where every company wants to invest their money. Approximately 35,000 climate tech companies were established between 2010 and 2022, bringing the total to 44,595. Investment in 2022 was estimated at around , and climate tech can expect another record year in 2023. The industry is led by the U.S.
Universities are responding to the growing demand and funding for climate tech by developing climate-specific degree programmes. With jobs in fossil fuels expected to fall in the coming years, as opportunities in renewable energy and climate tech rise, climate-focused degrees are more likely to prepare students for the job market of the green transition. In fact, in 2015 and 2:1 in 2020, compared to jobs in oil and gas.
Now, some of the world’s biggest companies are investing in climate tech. At present, 49 countries and 93 Fortune 500 companies have committed to net-zero targets. Venture capital investment in climate tech in the U.S. rose by 80 percent between 2020 and 2021, to reach $56 billion. And PWC estimates that more than funding is now going to climate technology, with a focus on decarbonisation.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Superdrug fans 'obsessed' with 'glowy' £7 Charlotte Tilbury dupe'Ultimate makeup bag staple' (contains affiliate links)
Read more »
Police missed tragic warning before gran was killed by devil-obsessed grandsonThe panel found that three incidents in the run-up to Mrs McCabe's death indicated that Conor could potentially be violent
Read more »
Asda shoppers obsessed with £1 'top tier' treat similar to Aldi'sOne shopper said: “These look and sound delish”.
Read more »
Leeds David Bowie exhibition marks 50 years since city gigMemorabilia collected by an 'obsessed' Bowie superfan goes on display at Leeds City Museum.
Read more »
Ferrari Purosangue is the marque’s high-riding, four-door venture into unknown territoryWe sample Ferrari’s first foray into a true family car, a high-performance four-seater that extends the Italian marque’s abilities into a whole new sphere of influence
Read more »