Shubhangi Bhedekar
In a significant shift within the global climate-tech sector, the United States has emerged as the top market for climate technology investments during the first half of 2024. Despite an overall decline in funding, US companies secured $6.7 billion in investments, surpassing China, which raised $5.1 billion, according to a recent analysis by BloombergNEF (BNEF). This marks a notable change from the previous year, when China led the market with $14.5 billion in climate-tech funding.
Impact of US Policy on Climate-Tech Investments
The surge in US climate-tech investments is largely attributed to the nation’s proactive climate policies, particularly the Inflation Reduction Act (IRA). The IRA has played a crucial role in fostering investor confidence by offering generous tax credits, grants, and loans for emerging technologies such as batteries, hydrogen production, and carbon capture. These incentives have made the US a favourable environment for climate-tech startups, positioning it as a global leader despite the sector’s broader economic challenges.
Read More: (https://theleadersglobe.com/business/us-becomes-leading-market-for-climate-tech-investment-in-2024-amid-global-slowdown/)
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