According to the data, $2.3 billion was invested in financial technology companies that address climate change in the US and Europe.

The Climate FinTech Report 2024 from CommezVentures examines investments in more than 600 fintech companies that are active in a variety of fields, including supply chain analytics, energy management, carbon accounting, natural capital, supply chain risk management, and carbon markets.

According to the survey, climate entrepreneurs are outperforming their peers in the larger ecosystem in terms of their capacity to obtain investment, even if they are not immune to the challenges facing VC funding. In contrast to the 38% decline in financing levels for the entire fintech business, total investment in climate fintech decreased by 19% year over year.

Unusual for a European fintech success story, this one has drawn $1.4 billion in venture capital funding, compared to $881 million raised by US businesses.

The sub-sectors with the highest funding were carbon markets and energy management, which brought in $729 million and $530 million, respectively. Carbon accounting fintechs came in third with $333 million in funding last year.