Talks on climate change have taken centre stage on many international platforms, such as the United Nations Climate Change Conferences and the International Climate Change Conference, among many others. These conferences often involve countries’ leaders and highlight the importance of climate change, with many countries pledging their support for the necessary efforts required to mitigate this crisis.
Asia is one of the regions that is extremely vulnerable to climate change, especially countries such as the Philippines and Japan. Through the regions’ endeavours to mitigate climate change repercussions, climate technology businesses have emerged across the region, making use of technological initiatives that can provide much-needed solutions. These range from innovations such as green fuels and electric vehicles to the use of big data and Internet of Things to analyse crucial information and to correlate human behaviour with its impact on the climate and the environment.
One such climate technology business that has received a favourable response from investors is Komunidad, a start-up from the Philippines. Founded in 2019, the environmental intelligence service provider initially operated as an email service for information about tropical cyclones. Several cyclones have hit the Philippines over the years, and the country ranked 17th in last year’s Global Climate Risk Index.
Komunidad raised US $1 million in its seed-funding initiative for its Asian expansion and the start-up now aims to extend its reach beyond the Philippines. The company has built a platform that allows users to receive data-driven information about the environment in a specific location or time frame, from rain forecasting to mosquito activity and more, thus allowing for monitoring and early warning protocols to be implemented before disaster strikes. This is crucial for countries such as the Philippines, Indonesia, and Thailand, among others, where climate change can affect people and the economy.
Another example of a climate technology business receiving funding for its efforts is Singapore-based Handprint. The company provides businesses with software as a service that allows them to track the environmental impacts of their digital processes through an automated solution. Handprint also connects the companies that work with them, such as e-commerce giant Lazada and food chain SaladStop, with green initiatives that align with these businesses. By March this year, Handprint had raised US $2.2 million in a Thunes-led seed-funding round, allowing it to further develop its climate technology and boost its network of partners.
The efforts of climate technology endeavours have also brought Google into the picture. The internet giant announced in March this year that its philanthropic arm, Google.org, was giving US $6 million to Asian charities fighting climate change through climate technology. An Indonesian climate tech start-up that had previously been a beneficiary of Google’s funds was Gringgo, which developed software to track and sort waste collections.
Climate technology is set to see significant growth in the years to come, with projections that it will grow from US $13.76 billion at the end of this year to US $51.09 billion in 2029. These positive figures suggest that more businesses will enter the industry, with those already dealing in climate technology expanding their efforts to make a difference in mitigating climate change.
SingaporePhilippinesclimate technologyclimate tech Asiaclimate tech Asian startupsclimate tech fundings Asia