The push to lower global greenhouse gas emissions has seen an increasing amount of early-stage capital flow to companies developing decarbonization solutions.

Climate-tech startups raised $53.7 billion from venture capital and private equity (VC/PE) in 2021, according to our latest Investment Radar. Almost $22 billion of the total went to the transport sector, in technologies ranging from lithium-ion batteries to electric aviation.

BNEF defines ‘climate tech’ as technologies and business models that act to decarbonize six sectors: energy, transport, buildings and infrastructure, carbon and climate, industry and agriculture. Energy and transport have typically been the most popular areas for investment, accounting for over two-thirds of funding last year, although the nascent agriculture sector has been gaining traction.

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