To achieve net-zero carbon emissions by 2030, we have to increase the amount of capital invested in climate tech by 590 percent, says Daria Saharova, managing partner at VC World Fund, a European venture capital firm specializing in climate tech. While European funds, including the UK’s, have €19.6 trillion ($21.1 trillion) under management—and invested €19.6 billion in 2022—that’s not enough. We need to invest at least €1 trillion every year.
The good news? “Europe is leading the world in patent applications for climate technology,” she says. “Twenty-eight percent of all patents in this field originate in Europe, so almost one-third of the technology needed is created here.”
The problem, Saharova warns,
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