Climate Tech Funds See Cash Pile Rise to $86 Billion as Investing Slows
Financial heavyweights like Brookfield and TPG have raised new climate funds this year, offering a positive sign for the future even as investments are down.
A solar farm at Rio Tinto Group's Gudai-Darri iron ore mine in the Pilbara region of Western Australia. Climate tech investors are looking to make bets on proven technologies amid regulatory uncertainty in the US and elevated interest rates.
Photographer: Carla Gottgens/BloombergThe amount of new capital for climate tech investing climbed globally in 2024, a hopeful sign that the sector is poised to grow despite still-high interest rates and likely regulatory changes ahead in the US.
Climate funds added $47 billion in assets under management, a 20% bump over last year, according to a report released Thursday by market intelligence firm Sightline Climate. Much of the uptick was driven by financial heavyweights like Brookfield Corp. and TPG Inc. raising a second, third or even fourth climate-targeted fund.