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Climate tech start-ups have raised $32 billion this year


According to Carbon Tracker, the majority of emissions from an oil barrel come from transportation. This includes your car. Although it is an extreme example of how hard companies will have to achieve the net-zero target, this data is far from being the only one.

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According to Tuesday’s report, technology companies that are working against climate change have so far raised $32 billion.

The amount of venture capital money flowing into climate tech this year has already exceeded the whole of 2020, the report by venture capital analysis firm Dealroom and promotional agency London & Partners said.

Investment in climate tech is up more than fourfold since 2016, when just $6.6 billion was invested by investors to support start-ups.

The announcement comes as top-tier investors around the globe hail climate-focused start ups. Larry Fink, CEO of Blackrock, said Monday that he expected the next 1,000 billion-dollar start-ups to be in climate techIt is. Bill Gates stated last week that there will be a “regular” market for Microsoft products. eight or 10 Teslas created in the space

Climate tech startups in the United States raised the largest funding between 2016 and 2021. Their counterparts in China and Sweden were second and third.

The findings show that Europe is the most rapidly-growing area for climate technology. They analyze data from companies involved in addressing climate change and reducing greenhouse gas emissions.

The report stated that European climate technology start-up investment in VC is 7 times greater than 2016 and ranges from $1.1 billion up to $8 billion.

According to the report, London has the highest concentration of climate-tech start-ups. The report states that 416 climate technology start-ups are now in existence. Paris Climate Agreement — a global pact forged at COP21 in 2015 when nearly 200 nations pledged to avoid the worst impacts of climate change.According to the report, climate tech startups in London have a combined value of $28 billion.

The pressure is growing on global leaders and CEOs, as scientists keep warning that the Earth is moving towards climate catastrophe.

Dealroom and London & Partners’ report has been released to coincide with the upcoming 2021 UN Climate Change Conference in GlasgowCOP26, or Common Policy Organization 26.

“The tech industry plays a fundamentally important role in helping drive forward innovation in the fight against climate change,” said Laura Citron, CEO at London & Partners, in a statement.

She stated that today’s findings show the creativeness of London’s climate-tech firms to tackle the crisis. London has the world’s largest climate-tech cluster and an ecosystem of accelerators, VC funds, and researchers. The tech sector in London works together to solve the global climate problem.