Given how quickly savvy entrepreneurs identify ways to transform an industry, it seems only natural that they are identifying tech-aided advances to help solve climate adaptation and resilience challenges. Activity certainly is accelerating and it will prove interesting to see if socially responsible investors take note. After all, venture capitalists may be wary since many made money-losing bets during the so-called CleanTech era in the 2000s.
So, what is ClimateTech? The Collider, a three-year-old Asheville, N.C. nonprofit dedicated to helping the world prepare, adapt and become resilient as climate change intensifies, defines this term as a “rapidly emerging industry in which data-driven products are developed to enable communities, companies, and governments to understand their risk and exposure to the effects of climate change and take action to adapt and become resilient.” (Take a look at The Collider’s infographic below.)
At least three resilience-focused ClimateTech categories can be classified. They are:
While social impact investors haven’t been shy in investing in disaster recovery and big tech firms have donated sizably after extreme events, ClimateTech goes beyond do-gooding to find bottom-line benefits. While traditional CleanTech investments have slowed, these three climate resilience tech investment areas suggest there’s money to be made while combatting climate change.
In fact, the genre is so ripe that a ClimateTech Wiki has emerged. The site offers a platform for both mitigation and adaptation/resilience technologies; give it a look and consider what climate resilience you can invest your time or treasure in.
Image credit: Hugh Han
Joyce Coffee, LEED AP, is founder and President of Climate Resilience Consulting. She is an accomplished organizational strategist and visionary leader with over 25 years of domestic and international experience in the corporate, government and non-profit sectors implementing resilience and sustainability strategies, management systems, performance measurement, partnerships, benchmarking and reporting.