With most businesses across the globe exploring the adoption of a net-zero energy concept, Cleantech or Clean Technology will spur a rapid transition to a circular economy. Curbing emissions is more important in emerging economies where much of the future growth in global energy consumption is expected. Therefore, scaling cleantech to least developed countries (LDCs) and emerging markets is a propitious solution to combat the aftermath of climate change. Cleantech encompasses technologies that reduce greenhouse gas emissions, enhance the environment, and minimize the consumption of natural resources and spans various sectors such as the circular economy, clean energy, and smart cities.
The World Bank Group estimates the global cleantech market at $6.4 trillion by 2023. Cleantech is expected to become the next global energy employer. To corroborate this statement, a new study from the World Economic Forum found that ‘nature-positive’ solutions can create 395 million jobs by 2030. The clean energy jobs in the US had already outnumbered fossil fuel jobs by 3X times in 2018. This is the right time to explore the companies in this sector that are in pursuit of geographical expansion and job creation.