Climate tech innovations promote urgency and hope, yet the planet's health continues to decline. Wildfires, high ocean temperatures, and extreme heatwaves indicate a deteriorating environment. Despite a surge in venture capital to $51 billion in 2023, climate tech has not yet reversed negative trends in greenhouse gas emissions. The focus on rapid financial returns often sidelines the needs of communities most affected by climate change. Investment in climate initiatives tends to prioritize technology appealing to profit-generating markets, neglecting equity and justice in solutions offered.
Innovation in climate tech is not inherently transformative unless wielded with the right intent, policies, and accountability.
While climate tech has received $51 billion in venture capital funding, communities most impacted by climate change are often excluded from these solutions.
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