Adaptation Is Climate Tech Funding's Biggest Blind Spot.

Climate tech venture capital funding has seen significant growth in the past decade, but one area that is consistently overlooked is adaptation. According to a report from the Oxford Climate Tech Initiative and the Skoll Centre at Oxford, startups focused on preparing for the impacts of climate change only received 7.5% of global climate tech funding from 2019 to 2020. This is despite the fact that adaptation solutions are crucial because even if greenhouse gas emissions were reduced to zero, the effects of climate change are already in motion. The transportation sector received the majority of climate tech venture funding, while other high-emitting sectors like the built environment and agriculture received less. This mismatch may be due to familiarity bias and the "hype engine" surrounding certain sectors. There is a need for more knowledge and funding for climate tech outside of wealthier countries, where the need for adaptation is immense. [Extracted from the article]