牛津气候技术倡议2023 OXFORD CLIMATE TECH INITIATIVE 2023

THE

CLIMATETECH

OPPORTUNITY

OXFORDCLIMATETECHINITIATIVE|2023

ImagebyAnastasiaPalagutina,foundonUnsplash

THE

CLIMATETECH

OPPORTUNITY

©OXFORDCLIMATETECHINITIATIVE|2023

TheresearchandreportwereoverseenbytheOxfordClimateTechInitiativeteam:

JamilWyne(ProjectLead),MinahilAmin,AbrarChaudhury,CourtneySavieLawrence,AoifeBrophy,andMichelleLee.TheteamalsobenefitedfromresearchsupportfromGenShiraishi,JordanZele,AishwaryaGeete,JosephLetrosne,YukiNakagawaandRobertEdgePartington.

Tocitethisworkpleaseuse“Wyne,etal.,TheClimateTechOpportunity.OxfordClimateTechInitiative,2023.”Forfurtheracknowledgements,pleaseseepageeleven.

ImagebyAnastasiaPalagutina,foundonUnsplash

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

TABLEOFCONTENTS

1EXECUTIVESUMMARY

10ABOUTTHISREPORT

11ACKNOWLEDGMENTS

13METHODOLOGY

14FIGURES

15DEFINITIONS

17ACRONYMS

18INTRODUCTION

25SPOTLIGHTINGOPPORTUNITIES

26ENERGY

28TRANSPORTATION

30FOOD,AGRICULTURE,LANDUSE

32INDUSTRY

34BUILTENVIRONMENT

36GHGCAPTURE,USEANDREMOVAL

38MANAGEMENTANDREPORTING

40MOVINGFORWARD

43FUNDING

48GOVERNMENTSANDCORPORATIONS

51TALENTANDWORKFORCE

54DEVELOPINGCOUNTRIESANDVULNERABLE

POPULATIONS

59ADAPTATION

65DEEPENINGTHEKNOWLEDGEBASE

67WORKSCITED

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

EXECUTIVESUMMARY

CLIMATETECHISEVOLVINGRAPIDLY.

Climatetechstartupandinvestmentactivityisgrowingrapidly.Whilereportednumbers

vary,since2013,therehavebeenover6,000investors(private,publicandphilanthropic)inclimatetechstartups,and2022alonesawover3,000VCroundsintoclimatetech.Overthepastdecade,therehasbeenanestimated40Xincreaseinoverallclimateventurecapital

globally.

CLIMATETECHBYTHENUMBERS1

USD$70bn+

Overallventure

capitalfundingforclimatetechin2022

USD$1.4tn+

Expectedvalueof

companiesincarbon

removalorreductionby20272

3,300+

Climatetechinvestmentdealsgloballyin20223

83

ClimatetechunicornsprimarilyintheUS,China,Germany,UKandSweden

USD$18.4bn

Climatetechfundinggoingintostorage(thelargestofanysectorglobally)in2022

40x

Growthinoverall

climatetechfundingoverthepastdecade

89%

Increaseinglobal

climatetechfundingfrom2021to2022

2X+

EUclimateVCactivityfrom2021to2022

(largestincreaseofanygeography)

USD$22.6bn+

InvestedinclimatetechoutsideofUS,EUandChinafrom2010-2022

1HolonIQ(2023)

2Pitchbook(2022)

3HolonIQ(2023)1

2

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

SECTORDEEPDIVES

MOSTPROMISINGOPPORTUNITIESINTHEENERGYSECTOR

Sector:

ENERGY

Mostpromisingopportunities:

STORAGEAND

GRIDMANAGEMENT

Dataistakenfromasurveyof149climatetechpractitioners(entrepreneurs,investors,

policymakers,etc.)wherein

respondentswereaskedtoselectthetop-twomostpromising

opportunitiesineachcategory.

Wind

EnergyStorage

GridManagement

Solar

Energyefficiency

Nuclear

Biomass/Waste

AlternativeFuels

Geothermal

Hydro/Ocean

N=149

Sector:

TRANSPORTATION

Mostpromisingopportunities:

BATTERIES,FUEL

CELLSANDSMARTINFRASTRUCTURE

MOSTPROMISINGOPPORTUNITIESINTHETRANSPORTATIONSECTOR

Batteries/FuelCells

SmartInfrastructure

Maritimetransport/shipping

Airtransport

Heavyduty(industry)roadtransport

Greenhydrogen

Energyefficiency

Lightduty(consumer)roadtransport

Sharedmobility

Travelalternatives(e.g.VR)

Micro-mobility

N=149

3

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

SECTORDEEPDIVES

Sector:

FOOD,

AGRICULTURE,LANDUSE

Mostpromisingopportunities:

LANDUSE

MANAGEMENT,ALTERNATIVE

FOODSANDLOWGHGPROTEINS

MOSTPROMISINGOPPORTUNITIESINTHEFOOD,AGRICULTURE,LANDUSESECTOR

Landusemanagement

Alternativefoods/lowGHGproteins

Alternativeinputs(e.g.fertilizers,pesticides,etc)

Precisionagricultureandrobotics

Agriculturalbiotech/genomics

Verticalurbanfarming(includinghydroponics,aquaponics,aeroponics)

Energyefficientequipment

N=149

Sector:

INDUSTRY

Mostpromisingopportunities:

RECYCLINGANDCIRCULARITY,

CONCRETEANDCEMENT

MOSTPROMISINGOPPORTUNITIESINTHEINDUSTRYSECTOR

Recycling/circularity

Concrete/cement

Waste

Energyefficiency

Materials

Iron,steel,aluminium

Plastics

Chemicals

Mining

N=149

4

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

SECTORDEEPDIVES

Sector:

BUILT

ENVIRONMENT

Mostpromisingopportunities:

HEATINGAND

COOLING,ENERGYEFFICIENCYAND

CONSTRUCTION

MOSTPROMISINGOPPORTUNITIES

INTHEBUILTENVIRONMENTSECTOR

Heating/cooling

Energyefficient

Construction

Waste

N=149

Sector:

GHGCAPTURE,

USEANDREMOVAL

Mostpromisingopportunities:

FORESTATIONANDHABITATRESTORATION

MOSTPROMISINGOPPORTUNITIESINTHE

GHGCAPTURE,USEANDREMOVALSECTOR

Forestation

Habitatrestoration

30

Soilcarbonsequestration

Directaircaptureandstorage

Bioenergywithcarboncaptureandstorage

Oceanalkalinity/fertilization

Mineralcarbonation

10

Biochar

N=149

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

SECTORDEEPDIVES

Sector:

MANAGEMENT

ANDREPORTING

Mostpromisingopportunities:

EMISSIONSDATA,MONITORING,

MANAGEMENT

MOSTPROMISINGOPPORTUNITIESINTHEMANAGEMENTANDREPORTINGSECTOR

Emissionsdata,monitoring,management,andreporting

Climateriskandresiliencemanagement

Climateearth/datageneration

N=149

ImagebyLucasSilvaPinheiroSantos,foundonUnsplash

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OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

MOVINGFORWARD

DespitetheincreaseinclimateVCandstartupactivity,therearestillkeychallenges,includingtheneedforadditionalanddiversefundingsources,mobilizingmore

supportfromgovernmentsandcorporates,leveragingtechnologytosupportadaptationgoals,andensuringthattheclimatetechecosystemisinclusive.

1)Increasetheamount,aswell

astypesofavailablefunding

forclimatetechinnovations

2)Corporationsand

governmentsmusthelp

enableclimatetechgrowth

Althoughclimatetechfundingandoverallclimatefinance

havesignificantlygrowninrecentyears,majorfinancing

gapsstillremain.Forinstance,theClimatePolicyInstitute

suggeststhatclimatefinancemustincreasefromtheannualinvestmentof$640billionin2020to$4.35trillioninannualinvestmentin2030toalmost$6trillionin2040inorderto

maintainthe1.5°Cpathway.4Whilethisencompassesall

formsofclimatefinanceandnotallofitwillfocusonclimatetech,climatetechwillfeatureprominentlywithinit.Expertsinterviewedemphasizedtheneedformoreandfastercapitaldeploymentforeverystageofthetechnologydevelopmentcycle—e.g.R&D,pilots,andcommercialization.

Over60%ofrespondentssaidthatcorporationsneedtoplayalargerroleinsupportingclimatetechcompanies,andover50%pointedoutthatgovernmentsneedtoaswell.Large

corporateentities—e.g.utilities—aswellasgovernment

agenciescanhelpthroughoutaclimatetechcompany’slifecycle.FromR&Dfunding,toproducttestingsupport,tolargemarketaccessandcontracts,corporateandgovernment

playershaveasignificantroleintheclimatetechecosystem.Surveyrespondentsstatedthatincentivizingadoptioninthemarket,pricingexternalities,andpassingregulationstophaseoutoldtechnologieswerethreewaysinwhichgovernmentscansupporttheclimatetechecosystem.

4ClimatePolicyInitiative(2021)6

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

3)Strategiesare

neededtobuildthetalentpoolforclimatetech

4)Climatetechsolutionsmustreachdevelopingcountriesandvulnerablepopulations

5)Buildouttheadaptationsolutionsetandcreatethenecessaryinvestment

strategiesaroundit

Nearly40%ofrespondentspointedtotalentasbeinga

keyconstraint,secondonlytoneedingmoresupportfrom

governmentsandcorporations.Thesuccessofclimate

technologyiscontingentonamassive“humanelement”—i.e.

talentandworkforce.Thereisnosinglefigurethatquantifiesthedemandfortalentintheclimate-techfield,though,for

starters,theInternationalLaborOrganizationreportsthatagreenereconomycouldcreate24millionjobsworldwide.5Talentconstraintscouldbeevenmoreprominentin

developingcountries.Forexample,intervieweesbasedin

Asia,Africa,andLatinAmericafrequentlypointedtothelackofsufficienttalentandworkforceasabarriertobuildingandscalingofclimatetechcompanies.

Eighty-ninepercentofsurveyrespondentsdonotbelieve

thatclimatetechsolutionsarereachingthepeople

whoneedthemmost.Forexample,only8%ofenergy

transitioninvestmentsin2021wenttoemergingmarkets.6Intervieweeshaddifferingperspectivesonthisissue–whiletherewasbroadconsensusthatclimatetechisneglectingvulnerablecommunities,someintervieweesbelievedthatthecurrentfocusonmitigation—i.e.ensuringthatcountrieswiththemostemissions,whichtendtobewealthiercountries,

reducethoseemissions—isthebestwaytolimittheimpactofclimatechangeondevelopingcountries.Beyondthis,techtransfer,customizationandlocalengagementarecriticaltoensuringinclusioninclimatetech.

Currently,onlyaround7%ofglobalclimatefunding(climatetechandother)isbeingallocatedtoadaptationprojects,

androughly2%wasusedforprojectsthattackleboth

mitigationandadaptation.7Whileclimatechangeisaglobalphenomenon,countriesandpopulationswillultimately

experienceitdifferently.Simultaneously,materialand

sustainableoutcomesfrommitigationactivitieswillrequireyears,andintheinterimperiodcountriesneedtoinvest

heavilyinadaptation.Climatetechhasanimportantroletoplayinfillingtheadaptationfundinggap,yetthereislittle

sector-wideconsensusonwhattheadaptationsolutionsetlookslike.Fleshingoutthescopeofadaptationtechnologiesandthespecificbarrierstheyfaceisacriticalstepinensuringmoreequitabledevelopmentofclimatetech.

5WorldEmploymentandSocialOutlook2018:Greeningwithjobs.InternationalLabourOrganization,2018.

6BloombergNEF(2022)

7ClimatePolicyInitiative(2021)7

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OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

DEEPENINGTHEKNOWLEDGEBASE

Thisresearchisjustthebeginningoftheconversationonhowtoadvancetheclimatetechecosystemgloballyandcapitalizeontheclimatetechopportunity.Giventhattheclimate

techfieldisstillyoung,therearemanyareaswhereweneedtodeepentheknowledgebase.Thebelowlistprovidesasnapshotofsomeofthekeyquestionsneededanswers,whichwehopecanhelpshapeamorerobustresearchagenda.

PRIORITYAREAKEYRESEARCHQUESTIONS

1)FUNDING

•Whattypesoffundingbeyondstandardequityanddebt

instrumentsaremostneeded,particularlyforR&Dintensiveandhardwarecompanies?

•Whatinnovativefinancingsolutionscanbeleveragedinclimatetech?

•Whichorganizationsarebestsuitedtoprovidegrantsand

concessionaryfundingtoearlystageclimatetechsolutions,andhowdowemobilizesupportfromthem?

•Howdoweensurethatthesectorswiththegreatestpotentialforimpactarereceivingthenecessaryfunding?

2)GOVERNMENTSANDINCUMBENTCORPORATIONS

•Howdogovernmentsandcorporationsaddvalueacrossthelifecycle

–fromconceivingandcommercializingsolutionsallthewaytoscalingandliquidityevents?

•Whatarethespecificpartnershipstrategiesthatclimatetechstartupscanpursuewithgovernmentsandcorporations?

•Howdogovernmentsavoidcrowdingoutinvestors?

•Whatstrategiesandpoliciescangovernmentsprovidetoencourageinvestmentsinclimatetech?

3)TALENTANDWORKFORCE

•Whatarethenecessarytaxonomiesandframeworksforeducationandemploymentintheclimatetechsector?

•Howdoweimprovethelinkagesbetweentheprivatesectorandacademiatoensureasteadyflowoftalentfromuniversitiesandresearchcentersintoclimatetechcompanies?

•Howdowerapidlyupskillindividualstudentsandjobseekersaswellaslargerpopulationstoreadythemforworkinginclimatetech,atscale?

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

PRIORITYAREAKEYRESEARCHQUESTIONS

4)DEVELOPINGCOUNTRIESANDVULNERABLE

POPULATIONS

5)ADAPTATION

•Howdoweimproveinvestmentconditionsforclimatetechindevelopingcountries?

•Whattypesofclimatetechsolutions,bothmitigationandadaptation,aremostneededindevelopingcountries?

•Howdoweengagelocalcommunitiesinthedevelopmentandimplementationofclimatetechsolutions?

•Whichorganizationsarebest-placedtoleadclimatetecheffortsindevelopingcountriesandvulnerablepopulations?

•Whichresourcesbeyondfunding-e.g.policy,talent,etc.-aremostcriticaltosupportingclimatetechinnovationinthesemarkets?

•Whatdoesthefullclimatetechadaptationsolutionsetlooklike?

•Aretherespecificbusinessmodelsthataremoreprevalentamongstadaptationsolutions?

•Whichfundingvehiclesandstrategiesaremostapplicableforadaptationsolutions?

•Howdowecustomizeadaptationsolutionstodifferentcontexts?

•Whatarethebestmetricsforquantifyingadaptationimpact?

ImagebyKarstenWürth,foundonUnsplash

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OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

ABOUTTHISREPORT

Inashortperiodoftime,climatetechhasbecomeawell-fundedsectorthathasdrawntheattentionofentrepreneurs,investors,scientists,academics,policy-makers,and

otherkeystakeholdersacrossglobalmarkets.Astheeffectsofclimatechangebecomemorepronounced,thedemandfortechnologysolutionsthatremoveandreduceGHGemissionsandbuildresilienceagainstgrowingtemperaturesandclimateriskisrapidlygrowing.Therearefewsectorsinrecenthistorythathavebroughttogethersucha

mixtureofinnovation,talent,policysupportandinvestment.

Thus,theclimate-techopportunityistimely,uniqueaswellasurgent.

Yetdespitethegrowingmomentum,thesectorisstillinitsnascentstages,and

numerousuncertaintiespersist.Whichsectorsareconsideredthemostpromisingbyinvestorsandentrepreneurs?Areunderprivilegedcommunitiesreapingthebenefitsofclimatetechadvancements?Howdowebuildmoreefficientclimatetechecosystems?Howcanwereducethebarrierstoscalingclimatetechstartups?

Thisreportoffersapreliminaryresponsetothesequestions.Itisbasedonasurvey

ofover140climatetechpractitioners(includinginvestors,entrepreneurs,scientists

andpolicy-makers)andinterviewswithover60expertsfromovertwentycountries.It

assessessomeofthechallengesandopportunitieswithintheclimatetechecosystem,inhopesofequippingstakeholdersinthefield,aswellasnewentrantsintoit,withinsightstheycanusetobuildbetterprograms,strategies,platformsandpoliciestosupport

climatetechinnovation.Thetrendsinthisfieldareevolvingrapidly,andasmorefunds,entrepreneurs,governmentsandotherplayerslooktocapitalizeonit,wehopethattheresearchcanprovideastartingpointforunderstandingtheclimate-techopportunity.

ImagebySapanPatel,foundonUnsplash.10

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

ACKNOWLEDGMENTS

TheresearchandreportwereoverseenbytheOxfordClimateTechInitiative

team:JamilWyne(ProjectLead),MinahilAmin,AbrarChaudhury,CourtneySavieLawrence,AoifeBrophy,MichelleLee,andRobertEdgePartington.

WealsobenefitedfromresearchsupportfromGenShiraishi,JordanZele,AishwaryaGeete,JosephLetrosneandYukiNakagawa.

WewouldalsoliketothankMargaritaZulueta,theleaddesignerforthisreport,andwewouldalsoliketothankCyntiaAbarcaforadvisingondesign.

OurteamalsobenefitedfrominputfromStefanoGurciullo(deep-techinvestor),EricBerlow(VibrantDataLabs)andAbdullahAl-Shakarchi(HarvardBusinessSchool).

WewouldalsoliketothanktheSkollCentreforSocialEntrepreneurshipatOxfordSaïdBusinessSchoolandtheBeckFamilyFoundationfortheirfinancialsupportinundertakingthisstudy.

Wearealsogratefultothefollowingindividualswhoprovidedfeedbackonourresearchmethodologyandpublication:AlexisCaporale(WorldFund),Daniel

Layug(InternationalFinanceCorporation),DanielKriozere(ClimateCapital),DonMeier(Deloitte),ElzanGodlewski(PlanetPositiveLabs),ManuelBueno(DAI),

MaliniSamtani(IDBInvest),MichelleLee(ClimatePolicyInitiative).

ImagebyLeonardoYip,foundonUnsplash.11

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

Additionally,wewouldliketothankthefollowingindividualsfortheirtimeinparticipatinginaninterviewwithourteam:

AakashShah

PeakSustainabilityVentures

AndrewWong

TRIREC

AnshumanBapna

Terra.do

AntoinePradayrol

GreenAngelSyndicate

BankoleOloruntoba

NigeriaClimate

InnovationCenter

BelemSaucedo

DAI

BenAttia

BlackRock

BradHiller

IslamicDevelopmentBank

ChrisAidun

PersistentEnergyCapital

ChrisChang

ElementalExcelerator

CrisDavila

DAI

DanGoldman

CleanEnergyVentures

DanielGoldsmith

JuliusEducation

DannyKennedy

NewEnergyNexus

DaveMiller

CleanEnergyVentures

DelMackey

NewMexicoStateUniversity

DerekHandley

AeraVC

EdgarAdrian

ParraOyervides

InnovationLaboratoryoftheInter-AmericanDevelopmentBank

EnnisRimawi

CatalystInvestmentManagement

EthanZindler

BloombergNEF

EricWilburn

Nature-basedsolutionsexpert

EzgiCanpolat

ClimateInvestmentFunds

FarahTubeileh

CatalystInvestmentManagement

FelixMagaju

KenyaClimate

InnovationCenter

GabrielKra

PreludeVentures

GauravGupta

DalbergAdvisors

GregPope

Rappel

HabibaDaggash

RockyMountainInstitute

HimanshuSharma

TheiaVentures

JadeBouhmouch

AmboVC

JamesEllis

BloombergNEF

JayDessy

BreakthroughEnergy

JenLoong

VentureCapitalInvestor

JineshShah

Omnivore

JoelNana

SustainableEnergyAfrica

JonahWagner

WagnerAdvisoryServicesLtd

JulieMaeGabato

Persefoni

JuneLukuyu

EEDAdvisory

KamalKapadia

Terra.do

KatieAuth

EnergyforGrowthHub

KeriBrowder

PrimeCoalition

KerryDuggan

SustainabiliD

LawrenceAng

ClimateSmartVentures

MargaManzo

MirovaSunFunder

MiaDiawara

LowercarbonCapital

MonaAlsubaei

UnionSquareVentures

MurefuBarasa

EEDAdvisoryLimited

NalinAgarwal

ClimateSeedsFund

OlamideOguntoye

TonyBlairInstitute

PatriciaHuidobro

GlobalEnvironmentFacility

PuiYanLeung

VertexVenturesSEAsia&India

RafaelAldon

regenr8

RuthNdegwa

(formerly)KenyaClimateInnovationCenter

RyanDings

ClimateHaven

SaliemFakir

TheAfrican

ClimateFoundation

SarahBermeo

DukeUniversity

SebastianCastellano

WorldResourcesInstitute

ShaunAbrahamson

ThirdSphere

StephenMusyoka

KenyaClimate

InnovationCenter

SteveMelhuish

WavemakerImpact

StonlyBlue

ThirdSphere

SusanSu

TobaCapital

TamerEl-Raghy

AcumenResilient

AgricultureFund(ARAF)

TimChristophersen

Salesforce

TomMitchell

ClimateKIC

VictorNdiege

KenyaClimateVentures

VincentOgaya

KenyaClimate

InnovationCenter

YasserBiaz

UM6PVentures

ZakiRaheem

DAI

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OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

METHODOLOGY

Dataforthisreportwascollectedthroughacombinationofsurveyandinterviews.Intotal,ourteamconductedanonlinesurveyof149climatetechpractitioners(investors,entrepreneurs,acceleratormanagers,academics,non-

profitexecutives,governmentofficials,etc.)andalso

interviewed67individualsfromthesamecategories.

Theparticipantsinthestudycamefromover20countries,withthebulkworkingonclimatetechintheUSandEU,

followedbyEastandSoutheastAsia,Sub-Saharan

Africa,SouthAsia,theMiddleEastandNorthAfrica,SouthAmerica,CentralAmericaandtheCaribbean,andOceania.

Toanalyzetrends,challengesandopportunitiesacross

theclimatetechsector,wesegmentedouranalysis

acrosssevensub-verticals,informedbyresearchdone

byPwC,HolonIQ,theClimatePolicyInitiative,Pitchbook,andSiliconValleyBank.Theclimatetechverticalscoveredinthisreportare1)Energy;2)Transportation;3)Food,

agricultureandlanduse;4)Industry;5)Builtenvironment;

6)Greenhousegas(GHG)capture,utilizationandremoval;

7)Climatechangemanagementandreporting.

Whilethereisnouniversallyagreeddefinitionof

climatetech,forthepurposeofthisreport,wedefine

climatetechastechnologybuiltwiththeintentto

mitigate,oradapt,orincreaseresiliencetothenegativeimpactsofclimatechange.

ImagebyDmitryFisenko,foundonUnsplash.13

OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

FIGURES

FIGURE1GlobalClimateVCFunding(2010-2022,inbillions)

FIGURE2ClimateTechbytheNumbers

FIGURE3ClimateUnicornsinFocus

FIGURE4AnnualCO2EmissionsSavingsintheNetZeroPathway(2020)

FIGURE5TotalValueofLCTExports,1990-2017

FIGURE6RegionalBreakdownofClimateActivity,FundingTotals(2010-2022)

FIGURE7MostPromisingOpportunitiesintheEnergysector

FIGURE8MostPromisingOpportunitiesintheTransportationsector

FIGURE9MostPromisingOpportunitiesintheFood,agriculture,landusesector

FIGURE10MostPromisingOpportunitiesintheIndustrySector

FIGURE11MostPromisingOpportunitiesintheBuiltenvironmentsector

FIGURE12MostPromisingOpportunitiesintheGHGcapture,useandremovalsector

FIGURE13MostPromisingOpportunitiesinthemanagementandreportingsector

FIGURE14PriorityAreasforImprovingClimateTechSystemsGlobally

FIGURE15WhereisMoreFundingforClimateTechSolutionsNeeded?

FIGURE16ImpactofEarly-StageGrantsonClimateTechStartups

FIGURE17EmissionsRelativetoClimateFunding

FIGURE18TheClimateTechCapitalStack

FIGURE19Beyondfunding,whichresourcesareneededtosupportclimatetechinnovation?

FIGURE20Government’sRoleinSupportingClimateTech

FIGURE21BuildingtheClimateTechStack

FIGURE22ClimateTechSolutionsandVulnerableCommunities

FIGURE23MentionsofEquityandJusticeinCompanyMissionstatements

FIGURE24DefiningtheClimateTechAdaptationSolutionSet

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OXFORDCLIMATETECHINITIATIVE|THECLIMATETECHOPPORTUNITY|2023

DEFINITIONS

ADAPTATION

Adjustmentinnaturalorhumansystemsinresponsetoactualorexpectedclimaticstimuliortheireffects,whichmoderatesharmorexploitsbeneficialopportunities.

BIOMASSFUELSORBIOFUELS

Afuelproducedfromdryorganicmatter(e.g.firewood,alcohol

fermentedfromsugar,and

combustibleoilsextractedfrom

soybeansorcombustibleoilsproducedbyplants).

CAPACITYBUILDING

Developingthetechnicalskillsandinstitutionalcapabilitytoenable

economies/countriestoeffectivelyaddressthecausesandresultsofclimatechange.

CARBONMARKET

Atradingsystemthroughwhichprivateandpublicentitiesmaybuyorsellunitsofgreenhouse-gasemissionsinan

efforttomeetemissionslimits,eitherundertheKyotoProtocolorunder

otheragreements.

CARBONSEQUESTRATION

Theprocessofremoving

carbonfromtheatmosphereor

capturingitbeforeitentersthe

atmosphereandstoringitinastable,long-termwayviaeithernaturalor

artificialprocesses.

CLIMATEFINANCE

Local,nationalortransnationalfinancing—derivedfrompublic,privateandalternativesourcesoffinancing—thatseeksto

supportclimatemitigationandadaptationefforts.

CLIMATERISK

Riskassessments

basedonformalanalysisoftheconsequences,likelihoodsandresponsestotheimpactsofclimatechangeandhow

societalconstraintsshapeadaptationoptions.

CLIMATE-SMARTAGRICULTURE

Integratedapproachtomanaginglandscapes—cropland,livestock,forestsandfisheries—thataddresstheinterlinkedchallengesoffoodsecurityandclimatechange.

CLIMATETECH

Technologybuiltwiththeintent

tomitigateoradapttothenegativeimpactsofclimatechange.

TECHNOLOGYTRANSFER

Themovementofdata,designs,

inventions,materials,software,

technicalknowledgeortradesecretsfromoneorganisationtoanotherorfromonepurposetoanother.

DEVELOPEDCOUNTRY

Sovereignstatethathasahigh

qualityoflife,developedeconomyandadvancedtechnological

infrastructurerelativetootherlessindustrializednations.

DEVELOPINGCOUNTRY

Alsocalledalessdevelopedcountryoremergingmarket—hasalower

grossdomesticproduct(GDP)thande