Last year, some of the biggest names in climate tech received funding worth nearly $37 billion in a venture capital investment. The whole idea was tied to sustaining a greener future or one that could be enjoyed for being carbon neutral.
And when you really look at the figures for the year 2018, you cannot deny the gigantic increase in investments.
When it comes to tech industry leaders, we’re talking about Amazon, Microsoft, and of course Google, all of which have united on one front, and that’s to achieve a healthier environment, full of technological advancements and carbon-free.
A new report from Statistical showed a comparison involving data received from major companies such as HolonIQ and CB. And according to this, the mega rise in climate tech funding has been relatively slow by Big Tech.
Three years ago, we saw some investment from these top tech companies and their associated affiliates. The figure reached was almost 100 million dollars while the total estimated amount was in the billions.
Why these numbers mean so much and why leading companies are called upon to rely on simple logic and observation. The carbon footprints that some of these tech companies leave behind are huge and that’s what’s putting the brakes on a greener future.
But this time around, we’re seeing more interest and intrigue in that regard. Big Tech ensures that it has increased its funding in this aspect for large and large-scale technology companies that are clear on their goals for reducing greenhouse gas emissions.
The principle is simple, the greater the interest shown, the greater the investment you will obtain.
This in turn means that we are going to have the three tech giants described above serving as leaders for a greener future, as they will get a quarter of the total funding described.
Let’s not forget how Amazon has been the leader in this aspect because it has invested a lot, as far as the transport sector is concerned. So many billions have been allocated to car manufacturing, recyclables, and more through his fund for Climate Pledge.
Some hiccups are definitely seen and will also occur along the way, however, we can’t help but realize that this is a great start and one that should stay strong for longer periods of time if we really wish to see results.
Meanwhile, analysts from business room revealed how the bulk of funding in the last quarter of 2022 went towards UN Goals for Sustainable Development projects. But we still believe this is just the beginning, as startups only get a portion of what top companies get.
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