Abby Stern, Holocene Ventures

According to estimates from the Climate Policy Initiative, Africa needs an annual investment of about $250 billion between 2020 and 2030 to mitigate some of the most significant impacts of climate change. The same report found, however, that the annual flow of climate finance into the continent stood at only $30 billion in 2020.

Maxime Bayen, Catalyst Fund’s operating partner, says while more than 35% of the total startups funding in Africa is going to climate tech, this is well below the financing needs of the climate tech sector.