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600-Gigaton Emissions-Reduction Gap From Current Targets
Here is a report by the World Economic Forum. According to the report:
- To close the 600-plus gigatonne gap in climate targets, the world needs to reduce annual emissions by around 7% to limit global warming to 1.5°C, necessitating immediate action.
- The report suggests closing the 600-plus gigatonne gap in climate action by moving up net-zero targets to 2050 or earlier, among other measures.
Here are some key insights to note on the efforts towards mitigating climate change as well as opportunities that lie ahead for companies and investors:
- Total venture and private equity investment into climate technology ventures was $638 billion, according to PwC
- McKinsey estimates that the climate-tech market can get annual investments of $9 to 12 trillion
- Investment into climate tech increased by nearly 4 times in the Indian and African markets in the time between 2021 and 2023, as mentioned in a report by Forbes
