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Britain’s quiet green business success story

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Financial Times or enjoy below:

🗞️ Driving the news: The UK's climate technology sector has surged, with investments growing from $177 million in 2014 to $3.5 billion in 2023, despite Prime Minister Rishi Sunak's policies weakening net zero commitments
• Octopus Energy, a leading example, leverages its Kraken software to enhance utility services, emphasizing affordable green energy

🔭 The context: The UK has become a surprising stronghold for climate tech innovation, home to Europe's largest climate tech hub
• This sector's explosive growth is part of a broader global trend toward clean energy and technology solutions, bolstered by investments and job creation within the green tech industry

🌍 Why it matters for the planet: The booming climate tech sector in the UK highlights a significant shift towards sustainable solutions, promising reduced emissions and a push towards net zero goals
• This movement is crucial in the global fight against climate change, demonstrating the potential for economic growth aligned with environmental sustainability

⏭️ What's next: Despite challenges posed by governmental policies, the UK's climate tech sector continues to thrive and expand, with potential for greater impact if fully supported by pro-net zero policies
• The sector's growth indicates a robust future for green technologies and sustainable investments in the UK and beyond

📈 One stat: Climate start-ups in the UK raised a record $6.2 billion last year, accounting for 29 percent of all UK venture capital investment

Click for more news covering the latest on green tech

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