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illuminem summarizes for you the essential news of the day. Read the full piece on HEATMAP or enjoy below:
🗞️ Driving the news: The term "climate tech" may face a rebranding under a likely Trump administration, given its polarizing nature and association with elite priorities
• Industry leaders suggest replacing it with less contentious terms like "energy independence," "resilient cities," or "critical infrastructure"
• Adaptation in language may be critical for startups seeking government funding
🔭 The context: "Climate tech" gained prominence during the Biden era, driven by venture capital and policy focus
• With anti-climate rhetoric resurging, framing climate initiatives as solutions to energy security or economic resilience might gain broader acceptance
• Florida's climate resilience hub offers a precedent for depoliticized framing under restrictive political climates
🌍 Why it matters for the planet: A shift in language could sustain funding for climate-positive technologies despite political headwinds
• Preserving support for clean energy innovations and resilience measures remains crucial to addressing climate change globally
⏭️ What's next: Startups may adjust branding to align with government priorities, focusing on domestic manufacturing and energy resilience
• Venture capital firms could similarly pivot, signaling a new era of strategic terminology
💬 One quote: “A lot of these businesses, if you’re not going to get that [funding], then there’s simply no future” — Todd Khozein, CEO of SecondMuse
📈 One stat: In the first half of 2024, global climate tech venture capital investment totaled $11.3 billion, marking a 20% decline from the same period in 2023
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