Question : List of top 10 countries for climate technology investment has recently(October 2021) released in a report titled “Five Years On: Global climate tech investment trends since the Paris Agreement”. Accordingly, what is India’s rank in the list ?
a. ninth
b. Eighth
c. Seventh
d. Third
Ans. a.
Related facts —
- List of top 10 countries for climate technology investment has recently(October 2021) released in a report titled “Five Years On: Global climate tech investment trends since the Paris Agreement”.
- Above mentioned report analysed the trends in the sector since the last United Nations Conference of Parties (COP) in Paris and ahead of the COP26 summit in Glasgow.
- Key points of the report —
- India ranks ninth in the list of to 10 countries for climate technolology investment over the past five years and Indian climate tech firms received USD 1 billion in venture capital (VC) funding from 2016 to 2021.
- The US and China leading the global top 10 with USD 48 billion and USD 18.6 billion investment between 2016 and 2021 respectively.
- The UK comes in at No. 4 with USD 4.3 billion after Sweden at USD 5.8 billion.
- The global top 10 is completed by France at No. 5 (USD 3.7bn), Germany at No. 6 (USD 2.7bn), Canada at No. 7 (USD 1.4bn), the Netherlands at No. 8 (USD 1.3bn) and Singapore tenth (USD 700m), after India.
- Venture capital investment into climate tech companies globally has skyrocketed since the Paris Agreement.
- Overall, global climate tech VC investment soared from USD 6.6 billion in 2016 to USD 32.3 billion in 2021, an increase in funding by almost five times.