The UN Dire Report, on Climate Change from a Global Group of Scientists, Monday, offers what One Advocate calls a Clarion Call to Increase Private Sector Investment in Climate Solutions, Spending that already has Picked-Up in the past 12 months.
Increasing Global Temperatures and Extreme Weather Events, are providing a “code red for humanity," warned the New Teport from the United Nations Intergovernmental Panel on Climate Change. “If we combine forces now, we can avert climate catastrophe,” U.N. Secretary-General, António Guterres, said in a Statement. “But, as today’s report makes clear, there is no time for delay and no room for excuses.”
The Private Sector seems Increasingly ready to Contribute to that Effort. Investment Firms have already Closed as many New Climate-focused Funds this year, as were raised during the previous Five years Combined, according to a recent Report from PitchBook, a Private Markets Research Firm.
Climate-focused Startups raised $15 Billion Globally in the First Half of 2021, nearly Topping the Total Investment for 2020, according to PitchBook.
That Spending could help boost Local Clean-Tech Startups, as well as, Existing Businesses, that need to find ways to comply with State and City Mandates to Cut Energy Use.
Micah Kotch, a longtime Climate-Tech Investor and Adviser to New York Startups, called the U.N. Report a Clarion Call for Action. Private Sector Investment will be Helped, he said, by the fact that there is “real money to be made.”
“Entire industries are shifting: energy, transportation, food, fashion, real estate,” said Kotch, Managing Director of Urban-X, a Brooklyn-based Accelerator Program for Urban and Climate-Focused Startups. “As our economy transitions to rapidly meet a net-zero emissions mandate, large investors see opportunities for new value creation amidst the disruption.”
The New York Picture:
Midtown Startups, Recycle Track Systems, and Sealed, which Reduces Home Energy Usage, both recently Raised Venture Investment Rounds to Expand.
the New York Green Bank, a State-run effort to Finance Renewable Energy Projects, said last week, that it had raised $314 Million from Bank of America, the First time the Fund has raised Private Capital. One of New York’s Top Technology Investment Firms, Union Square Ventures, earlier this year, launched a $162 Million Fund to Invest in Climate-Focused Startups.
Climate Investment had Slowed Down, for several years, starting a Decade ago, after many Clean-Tech Investments went Bust, most notably Solar Manufacturer Solyndra, in what became known as the Green Bubble.
Meeting the Emissions Reductions Goals of the Paris Agreement will require Public and Private Investment of about $7 Trillion per year through 2030, according to Estimates from the Organization for Economic Cooperation and Development.
Fifth Wall, which Partners with the Country’s Largest Real Estate firms, such as CBRE, Cushman & Wakefield, and The Related Cos., to Invest in Property-Tech Startups, launched a Climate-focused Fund late last year.
Brendan Wallace, the Firm’s Co-Founder and Managing Partner, said the Biggest Players in the Real Estate Industry are Increasingly seeing Climate as both a Challenge and “generational opportunity” for Investment.
“I think there is growing awareness that the private sector needs to take on the responsibility in mitigating the climate crisis,” Wallace said. “The public sector has its role to play, through rules and regulations, but the private sector ultimately needs to fund the tech to get from where we are today to where we need to be.”
NYC Wins When Everyone Can Vote! Michael H. Drucker
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