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🗞️ Driving the news: Climate tech investments experienced a 40% drop in 2023, attributed to economic uncertainties and geopolitical tensions
• This information is based on PwC’s 2023 State of Climate Tech report, which analyzed over 8,000 climate tech startups and more than 32,000 deals, totaling over $490bn

🔭 The context: Despite the decline, the fall in climate tech investment was less pronounced than the 50% drop seen in average venture-capital (VC) and private equity (PE) across different sectors
• Climate tech's share of VC and PE funding has been rising, accounting for over 10% of private market startup investments in 2023, up from 7% in 2018

🌍 Why it matters for the planet: The continued growth and expansion of climate technology is crucial for addressing the mounting climate crisis, and even amid broader market downturns, this specific sector demonstrates greater resilience and stability compared to others
• The shift in investments towards technologies that can significantly reduce emissions is also promising

⏭️ What's next: The investment landscape is evolving, with established investors having a reduced stake and first-time investors gaining prominence; this indicates that tech investment is moving towards mainstream acceptance

💬 One quote: “The development and scale-up of climate technology is an essential part of meeting the climate challenge... The good news is that the sector has performed well in relative terms, with investment falling less than in other areas” (Emma Cox, PwC UK’s Global Climate Leader) 

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