We’ve Been Selected for the PwC Net Zero Future50

As climate change solutions grow increasingly more important, climate tech innovations are helping accelerate decarbonisation and reduce emissions. The PwC Net Zero Future50 includes a selection of fifty climate tech start-ups, chosen by potential environmental and commercial impact, maturity and the potential to scale and achieve breakthrough results.

And for the Earthly team, we were lucky enough to be selected as we embrace the progressive techniques and technologies that make nature restoration and carbon removal, not just possible, but desirable. But what else is there to know about PwC Net Zero?

Technology is the amplifier of intent, which is why delivering on the crusade for decarbonisation requires collaboration between businesses, governments and civil society. With this, the UK’s PwC Net Zero Future50 is looking to prove as a key accelerator for climate change.

According to the

Net Zero Economy Index,

we now need to globally decarbonise at more than five times our current rate - achieving 12.9% reductions in intensity every year from now to 2050, compared to the 2.5% reduction rate that we’ve managed since 2000. For UK business, despite our rapid improvements in the last decade, there is still a mountain to overcome.

This is where PwC Net Zero comes in - as it looks to evenly distribute across various sectors across the climate tech landscape, covering:

Furthermore, it covers two intertwining themes: GHG Capture, Removal and Storage and Climate Change Management and Reporting (CCMR). Here are breakdowns of each sector:

With 2 start-ups listed in this sector (and Earthly being one of them), there will be a £75m UK VC investment (H2 ‘20 - H1 ‘21). Financial services account for 3.7% of total UK cleantech investment, as it is being accelerated by TCFD and the scale of the Net Zero finance transformation opportunity.

This sector is emerging as a key player in decarbonisation with innovations ranging from climate risk assessment tools for lending portfolios, to the mainstreaming of ESG criteria into asset management practices.

6 start-ups are listed in this sector, with a £928m UK VC investment (H2 ‘20 - H1 ‘21). Mobility and transport account for 45.7% of total UK cleantech investment, receiving significantly more investment than is proportionate to its share of emissions.

Despite this, the sector remains underfunded and will need to continue to attract additional consistent investment in the coming years to meet decarbonisation targets, especially in the areas of aviation and low GHG shipping.

7 start-ups are listed in FALU, with a £220m UK VC investment (H2 ‘20 - H1 ‘21) coming to the industry. FALU accounts for 10.8% of total UK cleantech investment and is the largest global growth area in terms of investment received in 2020, which has doubled since 2019.

Despite the fact that food waste, livestock and land conversion represent significant PwC Net Zero barriers, growth areas such as vertical farming and precision agriculture present powerful growth opportunities.

11 start-ups are listed in Energy, with the sector getting a £531m UK VC investment (H2 ‘20 - H1 ‘21) and accounting for 26.1% of total UK cleantech investment. A 100% renewable energy mix by 2035 comprises a large part of the UK government's 2050 Net Zero strategy. As the costs of renewable generation projects decline, attention should be paid to underfunded subsectors. Emerging solutions range from grid-scale storage systems to fusion reactors.

10 start-ups are listed in this industry, with a £95m UK VC investment (H2 ‘20 - H1 ‘21), as it accounts for 4.&% of total UK cleantech investment. IMRM is quite underfunded in critical areas - for example, the UK has 0 of the 23 green steel foundries in Europe. Emerging areas for climate tech improvements come in the form of low-carbon packing and carbon-negative aggregate.

9 start-ups are listed in this sector, with a £104.4m UK VC investment (H2 ‘20 - H1 ‘21). Even though Built Environment creates an estimated 21% of global emissions, the sector is very underfunded, accounting for only 5.1% of total UK cleantech investment.

Climate tech investment surrounding this has trailed the global climate tech growth rate, with an old and difficult infrastructure to retrofit as well as long payback periods. Technological innovations start from advantage materials to artificial intelligence, as we see them emerging with the potential to accelerate investment.

2 start-ups are listed here, with a £27m UK VC investment (H2 ‘20 - H1 ‘21). Whilst the sector accounts for 1.3% of total UK tech investment, there is growing momentum around carbon-negative technologies. 

For example, Direct Air Capture or soil sequestration help capture, remove or store GHGs and get us back on track for 1.5 degrees. The UK Government has also signaled its intentions to lead globally on GHG Capture, CCUS and Removal and Storage.

There are 3 start-ups listed in CCMR, having a £51m UK VC investment and accounting for 2.5% of total UK cleantech investment. As businesses face pressure to track and reduce GHG emissions, there is increased demand for transparent GHG reporting and management services.

As of April 2022, the UK Government is preserving TCFD-aligned requirements for large companies to report on climate-related opportunities and risks.

Along with PwC Net Zero, we work with some of the world’s most progressive businesses to remove carbon, restore nature and reverse climate change. If we’ve got your attention and you’re looking to help, please fill out our contact form.