India ranks 9th among top nations for investment in climate technology
India – According to a new report released on Tuesday in London, India has ranked 9th in the world’s top ten nations for climate technology investment. The report is based on the past five years during which the Indian climate tech firms received venture capital (VC) funding of USD 1 billion from the period 2016 to 2021.
The report by London & Partners and Dealroom. Co, that has been titled ‘Five Years On Global climate tech investment trends since the Paris Agreement, is based on an analysis of trends in the sector since the last United Nations Conference of Parties (COP) was held in Paris and ahead of the COP26 summit to be held in Glasgow next week. The analysis found that venture capital investment into climate tech companies globally, in a broad sense, has witnessed exponential growth since the Paris Agreement. The leaders in the list have emerged to be the US and China leading the global top 10 with USD 48 billion and USD 18.6 billion investment between 2016 and 2021 respectively.
Hemin Bharucha, Country Director India, London & Partners – London’s business growth agency, said, “The global tech industry plays a pivotal role in accelerating this global transformation and this is demonstrated in the rapid growth of VC investment into global climate tech companies. It is fantastic to see the UK and India among the top 10 countries for climate tech investment globally, with London leading the way in Europe for the number of climate tech companies and dedicated VC funds.”
UK has bagged No.4 spot on the list with USD 4.3 billion after Sweden at USD 5.8 billion. The global top 10 list in climate tech investment is completed by France at No.5 (USD 3.7bn), Germany at No.6 (USD 2.7bn), Canada at No.7 (USD 1.4bn), the Netherlands at No.8 (USD 1.3bn) and Singapore tenth (USD 700m), after India that stands at No.9.
The list through analysis is based on work by climate tech companies that are working to reduce Greenhouse Gas emissions or addressing the impacts of climate change.