$165-Billion invested in Climate Tech

One of the biggest challenges mankind is facing today is undoubtedly Climate change and Global Warming. The world has seen disastrous consequences of these two phenomena lately, from extensive melting of glaciers to unpredictable and abrupt weather patterns. This is high time that we implement some effective policies and initiatives to counter these. Many organizations and tech companies have already commenced tackling this growing problem. Founder and CEO of Drishya AI Labs, Amardeep Sibia told that the good news is that there is a massive opportunity around climate tech. In the year 2021 itself, there was $165 billion of investment in climate tech. Energy and transport were the major sectors in this investment. Mr. Sibia further said: “As this unstoppable force of climate change is coming along, how do we sustain life in 15-20 years down the road? It absolutely impacts everything that we do, whether it is water, food, the way we eat, the way you live life, and the way you even power yourself. So, it is also changing the way business is done and that is leading to chaos. But it is also leading to a massive opportunity. Last year, the climate tech industry had $165 billion of investment going across energy to mobility to agritech to foodtech. Beyond that, there was $755 billion of investment into just transitioning into a low carbon way of doing things.” According to a report by the Intergovernmental Panel on Climate Change (IPCC), the planet might not be able to keep global warming under 1.5 degrees Celsius and it was likely to be breached in 10-20 years. Speaking about this, Mr. Sibia said: “If we have to stop the breach, it means that between this year and 2025, almost $2.1 trillion of investment needs to go into this effort. Further, this needs to double to $4.2 trillion of investment per year between 2026 and 2030.”