Carbon-related tech raised a record-breaking $4.2 billion in 2022 as VCs poured into direct air capture and carbon accounting startups despite wider slowdown
of the fight against climate change due to the existing build-up of carbon dioxide in the atmosphere. It covers efforts like reforestation projects that could also help rehabilitate biodiversity to huge gas-sucking facilities like the one run by Swiss startup Climeworks, where the gas is then sequestered underground.
"We can't contain the climate crisis to an acceptable degree of global heating without actively addressing carbon capture and sequestration." This is putting pressure on high-carbon industries to decarbonize, pushing them towards methods to reduce carbon emissions, said John MacDonagh, PitchBook analyst and author of the report.
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