PODCAST | The rise of climate tech

In this edition of Business Law Focus, host Evan Pickworth interviews Ridwaan Boda, executive in the corporate commercial practice at ENSafrica, on the rise in “climate tech” as a consequence of a greater need for reliable data and information as the world moves to a greener future.

However, this comes with risks too, and companies need to carefully consider the environmental impact of all the technologies they use to avoid energy usage trumping their best “green” intentions.

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The context

With the increasing adoption of environmental, social and governance (ESG) practices, the use of climate tech is more appealing now than it has been in the last decade. By harnessing the innovative solutions that climate tech offers, companies can integrate and execute their ESG plans in various ways, such as IT and data capture systems to ensure that the organisation is compliant with any ESG obligations.

Globally, the climate tech market is currently valued at approximately $2.5-trillion. Investors are now focusing on contributing capital towards long-term, impactful, and outcome-focused projects. As such, climate tech presents an opportunity for companies which implement ESG practices through climate tech to attract more investments. In addition, in furthering any sustainability goals, the technology is also being adopted by governments and non-profit organisations.

Regulators across the globe are taking steps to ensure that there are legislative and regulatory frameworks in place that promote and prioritise sustainability practices. In the light of the changing legal landscape, there is still uncertainty about how climate tech will be regulated. This may create difficulties for those who are interested in climate tech and could have a detrimental effect on innovation.

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