Capgemini published a report titled “Climate Tech: Harnessing the Power of Technology for a Sustainable Future,” which analyzes the impact of climate technologies on companies’ sustainability goals. The study is based on a survey of 1,350 managers from large organizations with decarbonization plans (90% with revenues of more than $1 billion), complemented by another survey of 500 large venture capital firms and financial services organizations and interviews with 15 experts from various sectors. All this in 13 countries in North America, Europe and Asia-Pacific, including Spain.
According to the company, climate technologies, including renewable energy and electric vehicles, make an important contribution to decarbonization goals. Low-carbon hydrogen, carbon capture, and alternative fuels will also contribute if they can stabilize themselves. The report highlights that climate technologies will help achieve 37% of decarbonisation and net zero emissions targets.
65% of organizations plan to increase investment in climate technologies over the next two years. Of course, 77% indicate that the costs of their products will likely rise due to investment in these technologies. Organizations accept an increase in the cost of products for this reason of about 9%, although the average cost of this “green premium” in eco-products is much higher. Where this green premium has been reduced, such as solar PV and electric vehicles, there has been a rapid expansion of the technology.
On the other hand, the report reflects a large investment deficit. The organizations plan to increase investment in climate technologies by 7.7%, but the average annual investment in sustainability represents only 0.92% of total revenue. That is, among the 2,000 largest companies in the world, they generate less than $500 billion annually from sustainability. Only a fraction of the $1.8 trillion in investment in the world this year, which in turn is a long way from the $4.5 trillion that will be needed at the beginning of 2030.
