Technology companies around the world committed to tackling climate change have raised a record $32 billion so far this year, more than for the whole of last year, according to a report released on Tuesday by venture capital analysis firm Dealroom.
Investment in climate technology has more than quadrupled since 2016, when investors invested just $6.6 billion in start-ups in the sector.
Climate technology start-ups in the US raised the most money between 2016 and 2021, followed by their counterparts in China, Sweden and the UK.
The report analyzes technology companies committed to reducing greenhouse gas emissions or dealing with the effects of climate change, and the results show that Europe is the region with the fastest development of climate technology in the world.
Venture capital funding in climate technology in Europe this year is seven times that of 2016, from $1.1 billion to $8 billion.