Climate Change Technology: A Key Driver for Growth and Innovation

Climate change is among the most significant issues facing our planet. Governments and other institutions have recognized this challenge and are taking steps to handle it.

Technology has a pivotal role to play in this arena. Many multinationals have committed to ‘green digital solutions.’ This helps cut carbon dioxide emissions and transform other areas. For example, companies like Accenture, Microsoft, Ericsson, and Vodafone have signed the European Green Digital Coalition to invest in greener digital technologies and services.

Investors are also interested in such environmental innovations. According to one report, climate-tech funds will reach USD 21 billion in the capital during 2021. Venture capital investment in climate tech companies can reach USD 49 billion by the end of the year.

Here are some of the exciting new frontiers for innovation and growth.

Harnessing the Sun

There are many ways to produce energy by using the sun’s radiation. Technology is coming up with more efficient ways of doing this.

Firstly, photovoltaic systems convert solar energy to electricity while active systems use solar heat. Architectural solutions use new designs and building materials for heating, air conditioning, and lighting.

The benefits of universal solar energy are enormous. Maintenance and energy production costs are minimal, less energy loss during transmission.

Carbon Capture and Storage

There is much focus nowadays on carbon capture, a technology to prevent the release of CO2 gases through power generation and industrial production.

Such processes separate and compress carbon emissions. The compressed CO2 is transported to a storage location via pipelines and shipping. Locations include abandoned oil and gas fields and old coal mines.

Such technology allows fossil fuel use to continue but with decreased emissions. The challenge is to install an end-to-end capture-and-storage chain. Many technical, environmental, and economic solutions are being worked on.

Clean Hydrogen

Hydrogen is emerging as a green energy alternative in sectors such as heavy industry. These sectors are responsible for a significant percentage of global emissions.

The challenge? Clean hydrogen is much more expensive than hydrogen produced by fossil fuels. The need of the hour is innovative tech to make it more viable.

Clean hydrogen is also an attractive fuel option for transportation, electricity generation, and industrial applications. Earlier this year, the US Department of Energy announced a USD 52.5 million grant for projects to advance next-generation technologies. With this and other initiatives, low-cost means of production are on the horizon.

Growing Food in Labs

Mass-market farming practices are a significant contributor to the climate crisis. Reports state that farming releases large amounts of greenhouse gases, like methane and nitrous oxide.

A technological solution is a lab-grown food. For example, animal-free proteins and dairy products can be made with bioengineered yeast. Plant-based meat products are also appearing on shelves today. These use ingredients like vegetable protein extracts and beet juice.

But as of now, such foods are not cost-effective in scale. As technology progresses, costs are set to decrease. More people and the earth as a whole can reap benefits.

Turning Batteries Green

From smartphones to electric vehicles, everything needs batteries. New technologies and innovations focus on creating batteries that can store large amounts of energy.

Some advances in this sector are developing new generation lithium-ion batteries and solid-state batteries. Other pioneering initiatives include batteries made from iron, salt, and water.

There is also a focus on waste collection and recycling to reduce the environmental impact.

This is powering a green energy transition. 

In all these ways and more, technology powered by innovation contributes to the battle against climate change. 

For more information on the issues that matter, read our other blogs. You could start with the nature of hybrid working, adopting a blue ocean strategy, and the challenges in making technology more sustainable on the Cogent Infotech website.