As PwC’s September 2020 The State of Climate Tech 2020 and our recent blog report, the climate tech industry has experienced rapid investment growth over the past seven years (2013-2019), rising more than 3750% in this time. However, despite this impressive growth and a strong set of driving forces, the landscape displays different levels of maturity across different geographies and sectors. It is still far from the scale society needs to make a net-zero emissions economy before 2050 a reality.
PwC’s report makes clear that economies and societies are also now facing a rapid decarbonization challenge whilst trying to build back better from COVID-19. There is therefore an urgent need for faster and bolder innovation in climate tech. Achieving this step-change will obviously require significant additional VC funding but in order for climate tech to reach its full potential, the full range of the market’s key challenges, beyond funding, need to be proactively identified and overcome. The report identifies the following fundamental barriers that still remain:
POLICY & PROCESS
The PwC report gives recommendations on how to address the barriers climate companies are facing. You may also like to consider connecting with the smartest STEM graduates in developing countries as a means of addressing the finance and talent challenges specifically. The cost arbitrage will help you scale faster and more efficiently and enable you to tap into a bigger and more diverse global talent pool. Forbes, McKinsey and Harvard Business School all maintain that workforce diversity is a key driver of internal innovation and business growth. Working with a remote team in a developing country will help you manage your risks and associated processes more effectively and hit the triple bottom line of profit, people, and the planet with ease.
If you’re interested in tapping into the best global talent with remote teams to help you scale quickly and cost-effectively, download our eBook, ‘30 Hints & Tips To Get The Most Out Of Your Remote Team’. It will ensure you're informed and have the right questions to ask when considering the next step.