As per a European Clean Energy sector study, the UK has gotten the fourth spot in Europe. Germany topped the list while Sweden was second, and France and the Netherlands shared the third spot. The sustainable consumer goods firm Bower Collective conducted the research and analyzed investments and patents. It also unveiled that just under four in 10 green startups in the UK are working towards clean and affordable energy.
The research also highlighted that the UK
had issued the third most green technology patents in Europe. It has issued
1,066 patents to date. Bower Collective also reported that about €1.3bn per
country was invested into green tech startups since 2018. The nations that
topped the list invested more. For instance, Swede raised €7.6bn.
Nick Torday, the co-founder of Bower
Collective, stated, "Overall, it is heartening to see significant capital
coming in to support businesses focused on creating a more sustainable future. The
UK is in the top five, and we certainly see lots of opportunity and innovation
happening in our space, with increasing appetite from investors to prioritize
impact as one of their key investment criteria."
The UK has been working towards the goal of
achieving net-zero carbon emissions by 2050. The Department published a plan
for Business, Energy, and Industrial Strategy last year, including huge investments
into non-carbon energy tech. Since then, more startups in the UK have been
working towards finding and developing the most innovative methods of decarbonization.
Data also shows that energy tech startups
in the UK are struggling to scale and attract later-stage investment compared
to other areas where investments are huge, such as AI and fintech.
EU Green Deal
EU hopes to become the world's first
climate-neutral continent by 2050. It is also an opportunity to modernize the economy,
society, and re-orient the continent towards a just and sustainable future. Research
and innovation will play a vital role in accelerating and navigating necessary
transitions, deploying, demonstrating, and de-risking solutions, and engaging
citizens in social innovation
Horizon Europe
To help achieve the goal of becoming a
climate-neutral continent, the EU has started a research and innovation program
(2021-2027) named Horizon Europe. The powerful instruments and innovative
governance can help bring necessary systemic changes, ensure an inclusive
ecological and economic transition, and reach climate neutrality
In synergy with other EU programs, Horizon
Europe can be essential in leveraging national public and private investment. They
can foster innovative technologies, sustainable solutions, and disruptive
innovation together and spread successful fresh solutions across Europe and the
world. More than 35% of Horizon Europe's spending is allocated to addressing
climate change.
Green Partnerships Matter
Horizon Europe includes new research and
innovation partnerships. Such partnerships can lead to huge transformations in the
environment, society, and the economy. To boost such partnerships, the EU works
closely with industry and countries. Examples of such partnerships include transport
(use of batteries), clean
hydrogen, circular biobased sectors, low-carbon steel, the built
environment, and biodiversity.
Sources:
https://www.uktech.news/climate-tech/uk-fourth-europe-green-tech-20220620
https://exbulletin.com/tech/1700881/
https://ec.europa.eu/info/research-and-innovation/strategy/strategy-2020-2024/environment-and-climate/european-green-deal_en