# Innovation and ClimateTech

### Key information

Technology is unlikely to be the silver bullet that many people hope it will be, however innovation will be a key contributing factor to achieving necessary climate goals. A McKinsey report found that 40% of required emissions abatement could come from technologies that are still being developed, so watch this space!

#### ClimateTech

ClimateTech is a sub-sector of technology companies which are focusing on developing and/or utilising technologies to combat climate change. Companies in this space are attracting significant investments from venture capitalists (VCs) who are early-stage investors, giving capital to risky start-ups in return for equity in the company, in the hope that it will grow.

Some of the most successful and impactful ClimateTech companies include:

* **Nature's Fynd -** Using their fermentation technology they turn fungi into dairy and meat food substitutes, using a fraction of the water, land and energy resources of animal protein sources.
* **Prometheus Fuels -** Has developed a tools to filter atmospheric CO2 and turn it into a viable net-zero fuel that can compete with fossil fuels.
* **Volocopter -** An electric powered air vehicle designed to operate as an air taxi, reducing cars on the road.

{% hint style="success" %}
[Crunchbase](https://www.crunchbase.com/home) is a great resource for finding exciting start-ups, check it out and see if you can find a ClimateTech firm that you think will see financial and environmental success!
{% endhint %}

### Our favourite video

{% embed url="<https://www.youtube.com/watch?ab_channel=YaleCenterforBusinessandtheEnvironment&v=2TcdEryPQ8E>" %}

### If you want more

{% embed url="<https://www.pwc.com/gx/en/services/sustainability/publications/state-of-climate-tech.html>" %}

{% embed url="<https://www.mckinsey.com/capabilities/sustainability/how-we-help-clients/cop/the-cop26-daily/climate-technology-a-new-frontier-for-innovation-and-growth>" %}


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