In today’s context, technology is at the forefront providing effective solutions for various problems. As the world is evolving and advancing, simultaneously many hazardous issues are popping up now and then drastically harming nature and humans. And to fight and protect from such challenges, technological advancements and solutions are addressing areas that are transversal, accommodating all aspects of the environmental objectives, from avoiding emissions to climate change adaptation.

Thereby, in order to systematically overcome problems related to climate, many experts believe that there should be positive initiation from the government and other stakeholders who are known as investors. Fighting climate change will require a strategic change in regulation, policy, enterprise, and consumer behaviour. For climate tech to be a catalyst of change, we need to build an ecosystem where innovation is supported. Therefore, technology is perfectly blended with climate issues to bring a productive change.

According to the EU taxonomy, climate tech refers to innovative products, services, and technologies that address at least one of the six objectives for sustainable activities. According to a report by the World Economic Forum, $4-5T of global clean energy investments are required per year by 2030 to avert a climate disaster. This is more than a threefold increase from existing investment levels. Investment in climate tech includes funding for research, infrastructure projects, innovation schemes, and startup funding.

The highlighting news is that investments in startups have increased 20x in the last decade, with total climate tech funding of $100B in 2022. This is according to data from Net Zero Insights Market Intelligence Platform.

This shows how adversely, the climate tech industry is blooming and booming in India. Notably, there are lots to be introduced by the innovator startups to this vast industry which is working towards a green and sustainable future.

With the help of high-end technologies and services that enable decarbonization of the global economy, climate tech companies are profoundly developing products and services that leverage these technologies to mitigate and adapt to climate change. They remove existing carbon from the atmosphere, reducing future emissions or by increasing our resilience against the impacts of a changing climate.