From 2018 to 2022, climate technology start-ups in the Middle East, North Africa, and Turkey region received a total investment of $651 million, with UAE-based companies leading the way by attracting $401 million, or 62% of the total funding. Turkey followed with $124 million, Saudi Arabia with $68 million, Egypt with $42 million, and Tunisia with $6 million. The report by start-up data platform Magnitt also revealed that funding for UAE climate tech start-ups grew at a compound annual growth rate of 120% for the five-year period, which was double that of Turkey’s 60%. In total, 148 start-ups across the region received climate tech investments, and the momentum has continued into 2023 with 30 transactions and investments of $40 million recorded in the first half of the year.The UAE’s burgeoning climate tech start-up ecosystem aligns with the nation’s commitment to promoting sustainability initiatives ahead of the Cop28 climate change conference next month, according to Badr Jafar, CEO of Crescent Enterprises, which partnered with Magnitt on the report. Jafar also noted that this presents an opportunity to address a significant industry gap, with existing technologies having the potential to mitigate 65% of all emissions globally, leaving 35% that can be reduced through “technologies that are yet to achieve commercialisation and scale”. With the region hosting two consecutive editions of the UN’s Cop, the upcoming Cop28 and the UAE’s aspiration to unite, act, and deliver on climate action, there is a significant opportunity to showcase the region’s climate tech start-ups while directing substantial capital towards addressing the gap, Jafar explained. Over the past few years, technology aimed at climate change has steadily grown as countries and industries worldwide collaborate to achieve their sustainability objectives.Start-ups can play a crucial role in leveraging climate tech to aid the decarbonisation drive worldwide. Despite a 40% decrease in investment in climate tech globally over the past year, start-ups, investors, incubators, policymakers, decision-makers, and other stakeholders are using the latest innovations to solve real-world problems and combat climate change. According to a report by Majid Al Suwaidi, director general and special representative of the UAE for the Cop28 presidency, climate technology has emerged as a powerful tool in driving innovation and supporting global efforts to transition to a low-carbon economy. In the Mena and Turkey region, Turkey leads with 80 deals for climate tech start-ups, followed by the UAE with 45, Egypt with 34, Saudi Arabia with 21, and Lebanon with 10. The horticultural sector received the most funding, with $288 million, followed by renewable energy with $118 million, micromobility with $71 million, farming with $46 million, and the circular economy with $25 million.