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Funding for green technologies is on the rise in India, and the country's biggest investment fund is aiming to raise $1 billion for a climate-related fund by 2022, Bloomberg reports.
The fund, Eversource Capital's largest ever, will invest in companies in water, food, and recycling, as well as clean energy.
According to the Economic Times, startups in the climate tech space raised $157 million across 52 deals last year.
"There is a sense that there will be a much larger demand for carbon mitigation technologies," says a partner at Blume Capital, which plans to back 10 to 15 startups in the space over the next three to four years.
India has some of the highest carbon emissions in the world, and the government has been trying to reduce its carbon footprint by encouraging green technologies.
Last month, for example, the country's Department of Industrial Policy and Research announced a plan to cut carbon emissions by 25% by 2030, the BBC reports.
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Social Enterprises in Vietnam Now Get Legal Rights and Privileges
Vietnam’s Enterprise Law has been amended last November and now provides a legal definition of social enterprise. The law also grants social enterprises a number of rights. British Council Vietnam has played a vital role in supporting this amendment.