Roughly half of the world’s emissions currently can’t be reduced, yet green investment continues to avoid the sectors that need the most help—manufacturing, agriculture, and the built environment.
To achieve net-zero carbon emissions by 2030, we have to increase the amount of capital invested in climate tech by 590 percent, says Daria Saharova, managing partner at VC World Fund, a European venture capital firm specializing in climate tech. While European funds, including the UK’s, have €19.6 trillion under management—and invested €19.6 billion in 2022—that’s not enough. We need to invest at least €1 trillion every year.
“Between 2008 and 2013 there was a lot of investment and a lot of failures. So right now, R&D accounts for 35 percent of investment, private equity 37 percent, and venture capital just 13 percent of climate tech funding.” There’s a huge opportunity for VCs—as the fast rise of late-entrant private equity shows. The return on new investment in climate tech between 2015 and 2019 stands at almost 22 percent.
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