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illuminem summarizes for you the essential news of the day. Read the full piece on Bloomberg or enjoy below:
🗞️ Driving the news: BloombergNEF's Pioneers awards have identified light industry, climate adaptation, and next-generation energy storage as critical areas needing innovation for a net-zero future
• Startups are encouraged to address these gaps, with applications for the awards now open
🔭 The context: Traditionally, climate tech investments have focused on renewable energy and electrifying transport
• However, sectors like light industry and energy storage, which are vital for decarbonization but often overlooked, are now being highlighted
🌍 Why it matters for the planet: Addressing emissions in light industries and improving energy storage are essential for reducing global carbon footprints
• Additionally, enhancing climate adaptation measures is crucial to mitigate the increasing impacts of climate change
⏭️ What's next: Startups in these areas will compete for the Pioneers awards, potentially leading to breakthroughs in sustainable industrial practices, advanced energy storage solutions, and effective climate adaptation technologies
💬 One quote: “There’s also a really big chunk of emissions in so-called lighter industries that aren’t necessarily considered super hard to abate, but there’s actually just not a lot of solutions out there that we know work.” – Mark Daly, BNEF’s head of technology and innovation
📈 One stat: Startups focused on climate adaptation only received 7.5% of global climate tech funding from 2019 to 2020
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