Historical events and technological developments have rapidly accelerated climate change since the Industrial Revolution in the late 18th century turned humans into machines. Long since the Industrial Revolution, our highly connected world, powered by traditional energy sources, will pursue sustainability and electrification goals to keep global warming to 1.5 degrees Celsius below pre-industrial levels. doing. From board meetings to investor papers to the recently concluded COP27 attended by policymakers and heads of state, climate change dominates agendas everywhere and has been deeply ingrained in us for the past 150+ years. We are forced to change our ways.
Climate change is an enormous and complex systems challenge, but it’s encouraging to see startups leveraging technology and working hard to tackle it. Entrepreneurs and start-ups are doing everything in their power to address aspects of climate change and its impact on humanity through innovation. They work with a variety of stakeholders – businesses, individuals and governments – to do what is for all of us to make the world more climate-friendly and to ensure the well-being of all species on our planet. I’m thinking about what I can do.
Exemplifying how small efforts can make a big difference, today’s climate technology start-ups are focused on energy (storage/access/generation, alternative energy sources), transportation (EVs, micromobility and logistics, low-carbon fuels), I am working in the field of carbon (removal). /storage, carbon offsets), climate management (emissions tracking, ESG), food (alternative proteins, tackling food loss and waste), and more. There are also startups focused on ensuring that large workforces are transformed to tackle climate change. This will be the biggest game changer in the next few years as it accelerates the raising of consciousness of the 8 billion souls currently living in our pale blue dot.
From a venture capital perspective, the share of climate technology in the Indian equity impact investment market has more than doubled over the last six years, according to the recently published India Climate Finance Report (2022) by the Climate Capital Network. However, despite the obvious interest in this area, not many climate tech ventures scale across stages and segments. From 2016, out of 112 Indian climate tech ventures that raised seed rounds during 2019, only his 50% have raised in subsequent rounds as of August 2022. was. Up to 6 years after the first capital merger. A greater flow of such capital into sustainable climate innovation will not only benefit the environment but also enhance India’s ability to achieve its Sustainable Development Goals (SDGs). We see a world where the network effects of these multiple initiatives need to start showing results soon.
This is why these startups and their innovations are essential to securing the future of humanity.
Thinking about the cutting edge of climate technology
As we’ve seen historically, startups aren’t afraid to question the status quo. By getting to the root of the problem, entrepreneurs can identify some of the fundamental changes needed to reverse climate change. Some climate tech startups are going back to basics and driving climate action at the individual level through climate education, creating a healthy pipeline of climate-smart talent across industries and roles. Through a curated curriculum structured around climate change, communities prepare people to tackle climate change directly. It doesn’t matter who you are – developers, marketers, influencers. If you want to make a difference, there is a way to tackle climate change and drive your impact.
In order for companies to work together to reduce their emissions, some companies are working to measure, reduce and report their carbon footprint, whether they enable environmental accounting approaches in their supply chains or within their organisations. , and actions to help reach our sustainability goals.
Meanwhile, several data intelligence startups are building global catalogs of environmental datasets using satellite data, AI, and the cloud. And several other startups measure electricity-related emissions around the world 24/7. In a world where data is king, such companies are striving for complex longitudinal and point-in-time data as a way to enable stakeholders to take meaningful action on climate change. Startups are leveraging the same data, AI and automation to restore forests and improve carbon markets.
With all these types of startups working so hard, it’s clear that small but strategic and coherent efforts can make a difference in the larger challenges at hand.
What does the future hold?
Climate tech initiatives around the world have already made the necessary progress, but the biggest impacts will likely come from ideas that address climate change and its multiple manifestations. From changes in the nutritional value of food due to CO2 exposure, to known studies on zooplankton and algae in the ocean (discovering his Dr. We have a lot. “Zombie” viruses from thawing permafrost. Less than 1% understand these complex, centuries-old relationships. To advance this understanding while shooting moving targets, we need more innovative solutions, mathematicians, data scientists, tools and technologies. The future calls for hard work and the opportunities are endless.
For India and Southeast Asian countries, maintaining a balance between achieving growth and limiting climate impact is another challenge plaguing them. Start-ups tackling climate change in these regions will not only capture demand, climate change in developing countries will hit populations hard and decades of development will be lost. You have a responsibility to keep that in mind. The success of climate tech startups therefore depends on how they can help developing countries achieve sustainable growth and get there faster with a greater sense of responsibility than the rest of the world. increase.
According to PwC’s State of Climate Tech 2021 Report, as of 2021, climate tech will account for about 14 cents of all venture capital dollars invested. This number is expected to grow as more investors rank tackling climate change higher on their priority list. Through global networking and collaboration, we can achieve fruitful growth for the planet. After all, there is no competition when it comes to climate change. Because we all envision the same goal of a cleaner, more livable planet. That’s all we have until Elon Musk finds a way to Mars.
Disclaimer
The above views are the author’s own.
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