London Climate Technology Show 2024 highlighted the need for substantial financial support to scale power solutions and achieve net zero emissions by 2050. Speakers at the event emphasized the lack of investment from both private investors and governments in areas such as carbon capture, grid efficiency, and decarbonizing buildings. Teele Niidas from UP Catalyst identified over-regulation as a barrier to investment in carbon management. Celestine Cheong pointed out the disparity in funding between the fusion sector and fossil fuel subsidies. Stefan Kaufmann emphasized the importance of investing in hydrogen corridors to compete with natural gas.
Collaboration between the public and private sectors was deemed essential to accelerate the energy transition. Sarah Mackintosh from Cleantech for UK stressed the need for the right policy framework and market signals to boost private investment. Microsoft’s Climate Innovation Fund, with a $1 billion investment, aims to fund and deploy climate and power innovations globally. Director James Lockyer highlighted the sector’s growth and potential for investment.
Despite the promising initiatives and opportunities discussed at the show, underinvestment remains a significant challenge in achieving net zero goals. Cleantech for UK called for a clearly structured public funding path to attract private financing, while Microsoft’s Climate Innovation Fund offers hope for the industry’s investment landscape.
The London Climate Technology Show 2024 serves as a platform for industry leaders, policymakers, and advocates to address the urgent need for increased investment in clean energy technology to drive the transition towards a sustainable future.
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