investing in climate tech: a race against time
3rd May 2023 - London, UK
PWC NetZero Future 50 report cites Pavegen as part of the solution but calls for more investment in technologies to decarbonise the built environment faster.
The world is facing a critical turning point in the fight against climate change, and it's clear that we need to do more to achieve our global target of limiting temperature rises to 1.5ºC. The good news is that innovative climate tech start-ups are stepping up to the challenge, and investment in these companies is key to tackling the issue, particularly in the built environment.
netzero future50 report - pwc
One report that recognises the need for investment in climate tech innovators is the recent NetZero Future50 report by PWC. The report highlights the funding and technology issues faced by the sector and the companies that are leading the way in climate tech innovation. It's exciting to see that the UK has established itself as one of the leading hubs for this innovation.
However, the report also points out that investment in climate tech has been inadequate, particularly in the built environment. This has led to what is called the Carbon Funding Gap, which is the difference between the money needed to tackle climate change and the amount currently being spent. To hit our target, we need to decarbonise at five times the current rate, which requires significant investment.
Pavegen, one of the companies recognised in the report, is a part of the technological solution by producing sustainable energy. But as the report notes, the solution is not just a technological one; delivering on the carbon challenge will require new collaborations between business, government, and civil society.
impact: building awareness in society
This is where Pavegen can make a real impact by building awareness in society. The company's Kinetic Floor generates electricity from the kinetic energy of people's footsteps, providing new usable, green electrical energy. Organisations can use this energy to engage directly with their customers and citizens, building awareness of their sustainability initiatives.
Pavegen's systems can help spread the message of both sustainability and the concept of Net Zero by making unique connections between people and sustainability initiatives. This is essential because the difference between Net Zero and Sustainability is significant. The latter is about meeting the world's needs without causing new damage or harm to it. Net Zero is about balancing the amount of greenhouse gases released into the atmosphere with the amount that is being removed.
The report highlights the importance of creating a socially and environmentally sustainable economy, and this is at the heart of Pavegen's mission.
Generating enErgy from footsteps
Pavegen's recognition as one of the UK NetZero Future50 is a testament to the company's commitment to sustainability awareness and the role it can play in combating climate change. But it's clear that much more investment is needed in climate tech innovators like Pavegen to achieve our global target and create a sustainable future for all.
For more information, video content and photos of Pavegen, contact email@example.com
Pavegen is a purpose-driven technology business that helps power change and generates positive outcomes for people and planet. Laying underfoot inside buildings, public spaces and at events, Pavegen Kinetic Paving harnesses the power of people’s footsteps, creating not only a small amount of energy – but also imaginative, interactive experiences and data, to help educate, engage and enable meaningful actions around sustainability and Net Zero intent. Pavegen calls this Citizen Impact; powered by Pavegen.
Pavegen helps power Kinetic Street Furniture applications such as USB charging, LED lights, and Green Wall irrigation systems, whilst data from the system can be used for public educational purposes on digital display screens. Kinetic Brand Experiences at live events, expos, festivals and public spaces produce data to provide gamified experiences that help brands engage meaningfully with consumers.
The company was founded in 2009 by Laurence Kemball-Cook who invented the Kinetic Paving technology that can now be seen in over 37 countries around the world.