According to recent research released in London on Tuesday, October 26, India ranks ninth among the top ten countries for climate technology investment over the last five years, with Indian climate tech firms receiving USD 1 billion in venture capital (VC) funding between 2016 and 2021.
It was discovered that following the Paris Agreement, worldwide venture capital investment in climate innovation businesses has soared, with the US and China leading the global top 10 with USD 48 billion and USD 18.6 billion in investment between 2016 and 2021, respectively. After Sweden’s USD 5.8 billion, the UK follows in fourth with USD 4.3 billion.
Hemin Bharucha, Country Director India, London & Partners, London’s corporate growth agency, said that countries throughout the world must work together to reform business practices and commit to net-zero emissions. The tremendous expansion of VC investment into global climate tech businesses demonstrates how important the global tech industry is in speeding this global transition. It’s amazing to see the UK and India among the top ten nations in the world for climate tech investment, with London leading the way in Europe for the amount of climate tech businesses and dedicated VC funds, he said.
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According to the report, which examines technology companies that are working to reduce greenhouse gas emissions or address the effects of climate change, global climate tech investment in 2021 has already surpassed that in 2020, demonstrating the importance of the global tech industry in the fight against climate change. Europe has been identified as the world’s fastest-growing location for climate technology, with European venture capital investment in climate tech startups seven times higher this year than in 2016.
London is considered one of the world’s most advanced climate tech ecosystems, with its startups raising USD 3.3 billion since 2016, accounting for 16% of Europe’s total. London also has the largest cluster of climate tech firms in Europe, with 416 enterprises. According to Remus Brett, Partner at VC firm LocalGlobe, “The UK is well on its way to becoming a climate tech powerhouse thanks to its combination of world-leading research, robust ecosystem, and creative entrepreneurs who are utilizing technology to solve the most serious challenge of our age.”
