- There is great interest in the development of renewable energy sources and alternative technologies in European companies as they strive to become leaders in sustainable development.
- Europeans are divided on various climate issues, including the EU’s Carbon Border Adjustment Mechanism (CBAM) and bridging technologies to facilitate the transition to net zero
- Europe is now the fastest growing region for climate technology, with investments multiplied by seven since 2016
There is great interest in the development of renewable energy sources and alternative technologies in European companies as they strive to become leaders in sustainable development. As Europe tries to position itself more strongly in the global market, one thing must be clear: it is a continent full of technology companies.
According to the Dealroom report, Europe is now the fastest growing region for climate technologies, with investments multiplied by seven since 2016. Total investment for 2021 stands at more than $ 120 billion, that’s three times more than in 2019. Atomico’s State of European Tech report also showed that sustainability startups raised record funding of $ 10 billion, up from $ 5.4 billion in 2020.
European companies growing in sustainable development
The Financial Times annual report highlighted the most promising growing European companies, most of which are in renewable energy and technology. Everflow Group, a UK ethical water retailer for small and medium-sized businesses, is among the growing European companies.
With an employee satisfaction rate of 94%, it is also recognized for its high quality water and sanitation services. The company aims to bring the water industry into a new era through innovation while helping the world become a better and more sustainable place.
Meanwhile, Polarium, formerly known as Incell International, is trying to reduce costs and the environmental impact customers face around the world. This Swedish company is strengthening sustainability measures by ensuring that customers use durable, smart and recyclable lithium batteries.
The supplier of green gas and renewable electricity Bulb Energy aims to reduce its carbon footprint by 3.2 tonnes of CO2 per year. It is one of the largest buyers of green gas for homes in the UK and supplies its members with 100% renewable electricity from solar, wind and hydropower.
European startups in the field of sustainable development
Analysts said carbon prices would need to be at least twice as high as current levels to allow renewable technologies, such as so-called “green” hydrogen, to compete with polluting alternatives. London-based startup Carbon Clean is developing carbon capture technologies to help industries decarbonize and leverage the growing value of captured carbon. The startup also raised $ 8 million thanks to CEMEX’s investment in a new carbon capture project in Victorville.
Meanwhile, according to the UN Global Electronic Waste Monitor 2020, 53.6 million metric tonnes (Mt) of electronic waste were generated worldwide in 2019. For example, Paris-based Back Market, which has raised 276 million euros ($ 305.27 million) in Series D funding, led by General Atlantic, aims to reduce electronic waste by selling refurbished electronic devices on its online marketplace. The company seeks to extend the life of devices by giving them a second life.
The European Green Deal and its challenges
The European Green Deal is a comprehensive strategy that aims to help the EU achieve its ambitious climate and energy targets while creating new jobs in the green economy. It will help Member States reduce their carbon emissions by improving efficiency and competitiveness and by stimulating investments in low-carbon technologies.
However, a study and opinion poll commissioned by the European Council on Foreign Relations showed that Europeans are divided on a range of climate issues, including the EU’s Carbon Border Adjustment Mechanism (CBAM) and bridging technologies to facilitate the transition to net zero. . It also includes the role of nuclear energy in Europe’s future energy mix and the socio-economic consequences of closing carbon-intensive industries.