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The decrease in investment reflects market conditions more than a deliberate move away from climate tech, PwC said.
Climate tech investments fell 40% in 2023 as economic uncertainty and geopolitical conflict dent investor confidence, says PwC.
HSBC Asset Management has launched a climate technology thematic ETF, in partnership with Nasdaq.
PwC's State of Climate Tech report for 2023 analysed more than 8,000 climate tech start-ups and more than 32,000 deals worth more than £400 billion
Report reveals slowdown in venture capital and private equity climate tech investment, but the sector is still outperforming the wider market