Now, before 2025 looms, no one has ever felt that the battle against climate change is more challenging than ever. As the major part of the public and media discussion is still dedicated to carbon capture technologies, AI, and progress in renewables, there are many other cool but understated innovations out there. Investors, scholars, and environmental activists are paying growing attention to these emerging technologies, which hold potential in providing relief to some of the world’s toughest environmental issues. Below is the list of climate technologies that have generated a lot of interest you may not have known exist but should be on your radar as 2021 begins.
1. Revolutionizing Shipping with Green Methanol
CO2 emissions from the shipping industry are about 3% of the global total, but it is less often discussed in terms of climate impact than is aviation. But at least one venture capital firm is paying attention to what everyone is ignoring: decarbonisation of shipping.
Perhaps the biggest wakeup call is that until now, the shipping industry has been a silent actor in the global climate debate, and yet it is one of the most vital high-emissions industries that need to undergo disruption. One of them is green methanol, which is a low-carbon fuel being worked upon to replace high-carbon fuels.
A clean fuels producer is in the process of producing green methanol from carbon dioxide utilizing renewable powered electrolyzers as employed in green hydrogen production. Owing to the presence of a newly developed catalyst, the conversion of CO2 into Methanol at the company can be done with low temperature and pressure hence making it cheaper to undertake.
Methanol has initiated perception as a better option as compared to green hydrogen due to issues of storability of the later. Further, green methanol is not as cumbersome to work with as green ammonia because ammonia is toxic and corrosive in nature. Even now, the sea carrier Maersk has introduced green methanol in its vessels In fact, one of the fleet successfully undertook the world’s first green methanol-powered voyage.
2. Geoengineering Gains Ground Amid Controversy
Geoengineering was until recently “one of climate science’s biggest taboos” and is gradually gaining acceptance among climate stakeholders. Specifically, solar geoengineering has received attention for its ability to cool the climate far cheaper than other forms of CO2 removal.
The talk of solar geoengineering is still rather paradoxical; however, it is attracting more and more attention, and some investors are sure that it can be a measure to combat climate change. However, testing has experienced some challenges, such as project suspensions in some areas. Governments and organizations have started funding the technology aimed at responsible usage.
The idea behind solar geoengineering is simple: do this by scattering the sun’s rays back in space by reflecting them off aerosols in the lower atmosphere. The technology is justified as the cheapest and most effective solution relative to other solutions; however, its negative effects, if left unregulated, are a cause for concern. Some professionals believe that to avoid someone tinkering and then bringing about unknown adverse consequences on the planet, we have to fund research into solar geoengineering.
3. Floating Solar Panels: Harnessing Water for Clean Energy
Notably, floating PV systems have emerged as an attractive power generation concept so as to meet the world’s energy demand. This is a novel technology where photovoltaic structures are mounted on the facets of water structures such as reservoirs and canals. The benefits are clear: first, it avoids cases where the installation of solar power causes conflicts with the use of the land; second, water-cooling of the panels, which is central to floating solar, increases the efficiency of panels in a way that is unrelated to the floating solar’s location; and third, floating solar addresses the problem of water evaporation.
An article in Nature that showed that floating solar panels can provide, on average, 16 percent of total national energy. Oh, and it’s not just a conceptual end—the world’s countries are investing real money into the concept already. For instance, the U.S. Department of the Interior extended $19 million to fund floating solar projects across irrigation canals in California, Oregon, and Utah. Nevertheless, Zimbabwe agreed on a $250 million credit facility with the African Export-Import Bank to float the largest manmade lake in the world to harness solar power, and China began in November what it considers the largest offshore solar installation to date.
Studies on floating solar are also revealing the enormous possibilities of this kind of solar. It would be possible for some nations, including Bolivia and Ethiopia, to cover most of or all their energy demands by installing floating solar power plants. But more research is required about the effects of laying solar panels on water bodies, even if it’s partially to avoid any negative undue influence that this move will cause on the environment.
4. Soil Carbon Sequestration: A Crucial Tool for Regenerative Agriculture
The potential of afforestation and soil carbon sequestration as an effective climate mitigation strategy as well as a solution to the food security issue is gradually emerging. This provides opportunity of effective farming because through sustainable farming, soils is capable of storing carbon hence making a farmland a carbon sink. Nevertheless, there is a problem of quantification and accreditation of carbon storage in farms, whereby companies struggling to scale up this solution fully.
This gap is currently being filled by startups that are using combinations of labor-intensive soil sampling with geospatial data for measuring carbon stock in soils. However, these methods have not yet reached sufficient credibility in terms of reliability to be used for carbon credit, in other words, they cannot be used to attract large scaled financial supports yet. The solution to this challenge would go a long way, helping farmers and businesses quantify and verify the carbon they are capturing and creating new income streams for carbon credits.
The capability of soil carbon storing is great or massive. Should the measurement of CH4 or soil C stocks becomes possible, regenerative agricultural practices could become paramount intervention measures to reduce the emission of GHGs while enhancing ground cover and food production.
5. The Rise of Parametric Insurance for Climate Resilience
That is why the use of parametric insurance with the growing rate of catastrophes and their increasing severity represents a vital solution for impacted populations and enterprises. This is an insurance product where the payouts are made based on a parameter of weather conditions such as rainfall, wind speed or temperature without carrying out expensive surveys.
Companies like Floodbase, FloodFlash, and Arbol are using sensors, satellites, and AI to measure weather events accurately and trigger rapid payouts. Floodbase, which focuses on flood insurance, recently raised $10 million in Series A funding and made quick payouts to policyholders following storms in the UK. Arbol, which offers coverage for droughts, heatwaves, and cold snaps, raised $40 million in Series B funding this year. Similarly, Pula is providing parametric insurance to small-holder farmers in emerging markets, raising $20 million in Series B financing.
The demand for parametric insurance is expected to grow as extreme weather events become more frequent and severe. Investors recognize that this technology can help communities better manage the risks of climate change, ensuring that they have access to timely support when disasters strike. As the need for climate resilience solutions intensifies, parametric insurance is likely to play an increasingly important role in the adaptation and mitigation strategies of businesses and governments worldwide.
The Future of Climate Technologies
These emerging climate technologies mean a diverse and dynamic set of solutions that may transform the global response to climate change by 2025. Some examples of the initiatives are green methanol in shipping, floating solar farms, sequestration of carbon in soils, and parametric insurance, and all of them are as diverse as the issues we have. Even though some of these technologies may not be very developed, they are promising technologies that can play a very important role in the climate change solution portfolio.
These technologies remain appealing to investors and innovators searching for new ways to integrate sustainability into infrastructure as they promise a brighter, more sustainable world in the face of climate change. As research, development, and investment progress on these solutions, they could play a major role in reducing the impacts of climate change while building a sustainable environment.
