Climate Tech: The Next Big Thing To Go Green!

“Conserve and Preserve for the ones who deserve”!

We’ve always been debating about the consequences of technology right from the age of the industrial revolution. As time progresses, evolution of technology is attaining new heights yet its ill effects are impacting everything around us, mostly our environment. But the real question is, Would technology help undo its own doings? The answer is Yes! And that's where ClimateTech comes into play. The concept of Climate Technology may seem to be novel but it has existed for quite a while now. Traditionally we are accustomed to terms like cleantech and greentech but all these differ along approach and technologies. Climate tech involves new technologies involving various industries like energy, transportation etc which are the foremost in contributing to the GreenHouse Gases where technological modifications and innovations can reduce energy consumption along with overall emissions. The scope of Climate technology is not limited to reduction of GreenHouse Gases but it encompasses an industry that is data driven which is helping private players and governments to ascertain climate risks and develop proactive approaches to mitigate them. It focuses on either mitigating the climate crisis in real time or developing a better understanding of this change and adapting accordingly.

The drastic condition of our environment is crystal clear to us all, from rising sea levels to frequent droughts along with uneven weather patterns are already in our experience from quite a while. Every major industry does somehow contribute to any form of pollution resulting in these disasters. Climate technologies are aimed to reduce the impact of these industries on the environment. The major target of these technologies is to reduce emissions and minimise our carbon footprint by effectively using renewable energy and other forms of green alternatives to keep the industries going. Solar power and wind energy have been around but they alone cannot cope up with the surging energy demands. Latest technologies blended with renewable resources can cater to our targets to achieve net zero.

Climate tech’s main focus is the realisation that climate change is here and we cannot afford to lose any more time to address this pressing concern. Climate technology spans across multiple industries being multidimensional and Climate tech blended with the pre-existing Cleantech, Greentech and other solutions have wide applications and are not limited to industries like automobile, manufacturing, agriculture or power but navigation, supply chain or asset management etc. Developing technologies like IoT, AI/ML and block chain are emerging to help contain the slipping climate conditions. Business leaders and innovators throughout the globe are already on this path in order to adapt with the existing climate crisis and help attain 60% net zero throughout the world by as early as 2050. This is also evident from the fact that although during the period of 2018-2020, the investment made in this domain had a stagnant growth but over the last two years, the investments into research, development and innovation have grown rapidly. It is estimated that global investments in the climate technology and related sectors will reach a massive $6 trillion by next year which gives a good picture about this emerging sector. The massive numbers can also be attributed to the scope of the industry as its not reduction of historical emissions but to develop a sustainable model that can avoid further carbon footprint.

Climate tech companies and startups are either oriented towards climate data be it historical or real time and working on developing models predicting the atmospheric behaviour or models enabling organisations and their investors to understand and mitigate the exposure and contribution to climate risks such as emissions, rising temperatures, flooding etc. Major organisations in the category are associated with the mobility and transportation sector as the industries are massively part of the climate crisis. Apart from these,  financial Services, manufacturing and resource management industries are also considering climate tech as a means to deal with climate change. Notably organisations that have been around for decades now are already developing wings within the organisation to have in-house capabilities for the same cause. Others are getting associated with startups that provide out of the box solutions for the problem.

Innovations in climate technologies in line with stable investments and effective policies can help us electrify our efforts towards bringing down climate change. Since it's not just our future but the generations to come, it becomes an obligation for us to make every possible effort to conserve and preserve for generations that deserve a clean and sustainable future.