By Hemin Bharucha
India’s proactive approach to climate change is evident in its objectives, which align with global efforts to achieve net-zero emissions by 2070. India has emerged as a global leader in demonstrating a robust commitment to addressing sustainability challenges. And as part of this, the Indian government is taking proactive measures to support and promote climate-tech startups.
Equitable funding and supportive business ecosystems are crucial for India’s progress in areas such as electric vehicles, clean energy, waste management, circular economy practices, and climate-smart agriculture innovation. Recognizing that real impact is achieved at the intersection of innovation and scalability underscores the importance of supporting these initiatives. Climate change is a global priority and the growth of India’s climate tech sector is providing solutions to some of the most pressing problems in this space, which is leading to more international business growth opportunities for Indian businesses.
London is a sustainability pioneer among global cities. The city has developed a climate plan aligned with the highest ambition goals of the Paris Agreement and has pledged to achieve net zero carbon emissions by 2030 and eliminate waste by 2050. In terms of investment, in 2023 London ranked number two for climate tech globally, with climate tech startups collectively raising $3.5bn from $2.2bn the year before. With funding for climate tech at an all-time high, there is immense potential for international companies looking to expand into London.
In addition, London has been investing in greening its transport and building infrastructure. In December of 2023, the city had more than 18,000 electric vehicle (EV) charge points which constitutes more than 34% of the entire UK’s market share. All the new buses in London will be zero-emission, to fulfill a commitment of a 100% zero-emission bus fleet in the city by 2034. Similar initiatives are being delivered in India with companies scaling e-mobility for intercity commutes – for example, Zingbus plans to add an impressive fleet of 2,200 electric buses and 4,000 electric cars over the next 5 years. As sustainability takes precedence in both India and London, joining hands in promoting the same would yield better and more efficient results.
With its extensive and collaborative climate tech ecosystem, London provides a supportive environment for businesses to access investors, policymakers, industry leaders, and academic institutions. The ease of doing business in London opens up opportunities for partnerships and collaboration, as well as support for raising capital with its venture capital and investor community. Alongside this, London is equally at the forefront where talent, innovation, and creativity are concerned, making these factors the catalysts to rapid green business growth and transition to net zero.
It is clear, that there is considerable potential for collaboration between India and London. Working together, we can easily accelerate climate solutions by leveraging the unique strengths of each and thus drive innovation for a more sustainable future.
(The author is Country Director – India, London & Partners, and the views expressed in this article are his own)
