An Initiative Launched to Stimulate Funding for Climate Technologies Startups

People walking to the COP 28 venue.
Daily News Morocco
Dubai, United Arab Emirates
An Initiative Launched to Stimulate Funding for Climate Technologies Startups

An initiative has been launched to accelerate the pace of seed funding for startups specializing in climate technologies. The Climate Action Initiative was launched at an event organized during the ongoing COP28 in Dubai in cooperation with VentureSouq, a venture capital firm based in the UAE.

Participants at the Global Industry and Industrialization Summit indicated their interest in supporting innovations and harnessing their capabilities to accelerate the pace of achieving the United Nations’ sustainable development goals for the entire world’s benefit.

They unanimously agreed that the announcement of World Industrial Day and the Climate Action Initiative constitutes an ambitious step towards anticipating a better future during the current decade, which requires bold and ambitious climate action.

They stressed the need to cooperate within the framework of a firm commitment to transform ambitions into concrete actions, pledge to achieve real progress and transform innovations into feasible and scalable solutions.

The Climate Action Initiative aims to create a system that enhances innovation and leaves a visible sustainable footprint on a large scale. At the same time, the Global Industry and Industrialization Summit will encourage emerging companies worldwide to find innovative solutions to these challenges.

They added that the announcement of the Climate Action Initiative in cooperation with the Global Summit on Industry and Industrialization is a step that demonstrates the power inherent in innovation and its ability to bring about a radical transformation in the current climate crisis.

They stressed that this initiative aims to enable emerging companies to develop effective solutions that can be applied on a large scale to pave the way towards a sustainable future that addresses the most prominent global challenges.

This story was produced as part of the 2023 Climate Change Media Partnership, a journalism fellowship organized by Internews' Earth Journalism Network and the Stanley Center for Peace and Security. It was first published by Daily News Morocco on December 11, 2023.

Banner image: People walking to the COP 28 venue / Credit: Elmahjoub Dasaa.

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