Launch Event: LowCarbon.Earth Accelerator 2024

The world is in the midst of a climate emergency. This is a direct consequence of fossil fuel-heavy land use, agriculture, transport, buildings, industrial processes, and polluting energy sources. It is affecting everyone. However, vulnerable, and marginalized groups —such as women, children, the elderly, and the poor—are the ones who suffer the most.

Asia and the Pacific are responsible for over half of the global greenhouse gas (GHG) emissions. As such, the region plays a crucial role to reach the Paris Agreement target of keeping warming under 1.5 degrees Celsius. Climate change is also linked to other environmental issues, such as air pollution. All major air pollutants have an impact on the climate and most share common sources with GHGs, especially those related to the combustion of fossil fuels. Without profound changes to these sectors, there is little hope of protecting people and the planet from the impacts of climate change and air pollution.

Micro, small, and medium-sized enterprises have a crucial role to play, given they comprise 90 percent of businesses and are responsible for more than half of global employment. Startups, through their innovation, can support in building technologies and businesses that can help in emissions mitigation as well as climate adaptation. However, climate tech startups face multiple challenges such as:

1. Insufficient venture capital ecosystem for climate tech startups: The predominant focus of funds and investors on consumer tech and emerging sectors like AI has left a major gap for a robust support system for climate-tech startups.
2. Lack of comprehensive mentor networks: Existing mentor networks are not tailored to address the needs of asset- and intellectual property-intensive climate-tech startups with longer development periods, hindering early-stage startups seeking guidance and support.
3. Inadequate technical support for climate tech startups: The absence of technical support for climate technology startups underscores the critical importance of access to laboratories and research support. There is a pressing need for grants and financing support to enable research and development efforts effectively.

Four different initiatives of the United Nations Environment Programme (UNEP), i.e., GO4SDGs, EmPower, Asia Pacific Clean Air Partnership (APCAP), and Mekong Plastic Project, are coming together in partnership with the Massive Earth Foundation (MEF) to create a suitable ecosystem for the startups working in the climate tech/clean air area through the LowCarbon.Earth Accelerator program.