That level represents 4.9 times more investment compared to 2016 when the Paris Agreement was signed, as per Dealroom.co, Amsterdam-based global data provider on venture capital, and London & Partners, a U.K-based promotional company.
Europe has been the frontrunner, pacing ahead of all the others, with investment in climate tech growing 7 times from 2016-2021. Only second to Europe is the U.S with a growth of 5.8 times, followed by Asia with a growth of 1.7 times over the same period.
The rise of climate tech has predominantly been driven by global investment in areas of transportation, energy, and economic solutions.
While the US is on top for venture capital climate tech investments with $48 billion since 2016, China ranks second with $18.6 billion followed by Sweden, the UK, and France with investments of $5.8 billion, $4.3 billion, and $3.7 billion, respectively.