In the first quarter of 2023, global venture capital funding declined 53% year-over-year, according to recent data reported by Crunchbase. Another recent report highlighted that climate-specific venture funding in the first quarter dropped to its lowest level since Spring 2020. Despite these short-term trends, we should expect that climate tech will be resilient compared to other areas of innovation.
As a whole, climate investing has experienced years of breakout growth. While this has taken time to achieve, the value proposition of a modern, sustainable, and net-zero economy has become the greatest business opportunity of our generation.
