A PwC report ranks the UK top in Europe for total climate tech Venture Capital funding between 2013 and the first half of 2021 and saw investment levels in excess of £6.5bn.

The UK has established itself as a leading global hub for climate tech innovation and ranks third globally for total Venture Capital (VC) funding in Climate tech from 2013 to the first half of 2021, behind the US and China.

The UK also recently saw record VC investment levels, in excess of £2bn, in the second half of 2020 to the first half of 2021 and has more climate tech start-ups that have received funding than any other country in Europe from 2013 to June 2021, in excess of £6.5bn, according to PwC UK’s Net Zero Future50 report.

Leo Johnson, head of disruption & innovation at PwC, said: “As climate challenges grow ever more urgent, climate tech innovations are helping to bend the emissions curve and accelerate decarbonisation. The UK has been pivotal in climate tech’s growth over recent years and with COP26 highlighting the need for climate technology as part of the Glasgow Breakthrough Agenda, the space is emerging rapidly. Technology is not the panacea, but climate tech is a critical mechanism to get us on track to meet the 1.5C goal, and the UK is at the forefront.”

PwC’s inaugural Net Zero Future50 report analyses the UK’s rapidly growing climate tech sector and identifies 50 innovative start-ups with the potential to make a significant difference in the battle against climate change.

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