Tech Nation's Climate Tech Report 2022

We've released Tech Nation's Climate Tech Report 2022 today!

Over the last decade, climate tech has transformed from being on the fringes to being integral to the future of our economy, society and way of living.

Governments and businesses alike have acknowledged we will need to invest, refine and deploy climate technologies across every industry if we are to scale down global emissions at a fast enough rate to achieve net zero.

Tech Nation's report delves into the world of climate tech today, and takes a closer look at what countries and scaleups are like are doing in the space.

Here are the key statistics:

1. Groundbreaking evidence on the positive climate impact represented by startups and scaleups; refreshed data on the economic impact of climate tech
2. Globally, the number of emerging technology companies tackling the climate crisis has increased 4x, by over 35,000 firms since 2010 to reach 44,595 in 2022.
3. The UK is second only to the United States for the number of climate tech startups and scaleups - with over 5,200 climate tech pioneers now operating, compared to the US’ 14,300.
4. 2021 was a record year for climate tech investment, with over $111bn raised by startups and scaleups globally, of which $4bn was raised by UK companies, and just under $39bn by US based companies.
5. In 2021 climate tech companies globally raised more than enterprise software at $103.7bn, and in the footsteps of healthtech and fintech - companies in which sectors raised $119bn and $129.4bn respectively. Overall, climate tech represented 15.3% of all investment into tech startups and scaleups in 2021 ($111bn of $726.4bn raised in total).
6. By 2036, the emission reduction potential of technologies leveraged by the 44,000+ climate tech companies is predicted to surpass the global emissions level in 2019. It is also predicted to grow to 1.4x the levels by 2050, equalling 599,000 million metric tonnes of CO2 per year (MMtCO2e p.a.).
7. Estonia, a country known for its strong startup and scaleup sector, outperforms all other countries for investment per tonne of CO2 emitted ($79). Total investment in climate tech companies in Estonia reached over $1bn for the first time in 2022 and Estonia emissions are low (12 MMtCO2e or 0.004% of global emissions) due to its small population.
8. Sweden invests $53 per tonne of CO2 emitted, placing it second behind Estonia. The nation is a leader in this space because of its climate innovation strategy. It promises to invest SEK 100 million per year towards climate strategies, and technological innovations in energy intensive industries.