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  • Writer's pictureGustavo Bernal Torres

PwC’s 2022 Report on the State of Climate Tech

PwC’s third annual State of Climate Tech report finds relative stability in venture capital investment at a moment when sharp increases are needed to meet emissions objectives.

  • In fact, climate tech investment in the 12 months to Q3 2022 represented more than a quarter of every venture dollar invested, a greater proportion than 12 of the prior 16 quarters. Indeed, these levels for rolling 12-month average investment have been mostly stable since the beginning of 2021.

  • The volume of critical early-stage funding required to scale up the next wave of climate tech success stories is trending in the wrong direction. The deficit of funding and the decline in the number of deals for early-stage start-ups that are looking to scale up, which we first identified last year, appear to be deepening. Investment is still not aligned with carbon impact, reflecting an inefficient market for investing in climate outcomes.



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