Speakers at the London Climate Technology Show 2024 highlighted the need for significant financial support to scale power solutions and reach net zero emissions by 2050. Despite discussions on carbon capture, grid efficiency, and decarbonizing buildings, a consistent lack of investment from private investors and governments was noted.
Experts pointed to barriers such as over-regulation in the carbon management sector, urging for more investment in technologies like carbon capture. The redirection of funding was emphasized, with comparisons made between investments in fusion technology and fossil fuel subsidies. Moreover, the need for investment in hydrogen corridors to compete with natural gas was highlighted.
Collaboration between the public and private sectors was identified as a key driver to accelerate the energy transition. Sarah Mackintosh from Cleantech for UK stressed the importance of the right policy framework to unlock private investment. Microsoft’s Climate Innovation Fund, which aims to fund and deploy climate and power innovations globally, was cited as a hopeful example of investment in the sector.
The industry’s investment landscape was seen as healthy and growing, with around 60 companies having received investments since the fund’s launch. The push for clear public funding paths to support private financing and drive the commercialization of clean energy technology was also emphasized at the event.
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