The Irish Climate Tech Opportunity 2024

Unleashing Ireland's Climate Tech Potential

In this second Irish Climate Tech Opportunity Report, produced in partnership with SustainabilityWorks, we are excited to showcase again the scale and diversity of Ireland’s Climate Tech ecosystem. Our report underscores Climate Technology’s pivotal role in addressing the escalating climate crisis. We profile 22 leading companies across the island of Ireland’s Climate Tech landscape, highlighting the sector’s diversity and momentum. Despite this progress, a significant gap remains in reaching our greenhouse gas (GHG) emissions reductions targets. Ireland has a strong ‘right to win’ in Climate Tech, but more needs to be done to bridge the gap between ambition and action.

Ireland’s growing Climate Tech impact

Ireland’s Climate Tech sector, with over 300 companies innovating in various fields beyond energy, is making a significant global impact. The country’s entrepreneurs are addressing local challenges while scaling their solutions internationally.

The role of government and investment

In last year’s report, we urged Ireland to consider Denmark’s ‘State of Green’ model — a call that remains relevant. While many featured companies have benefited from state support, more is needed. The investment landscape for Climate Tech is still evolving, with venture capital playing a crucial role alongside government funding. Beyond the climate imperative, this presents a compelling economic opportunity. Ireland can foster a thriving economic landscape while tackling decarbonisation by formally recognising Climate Tech as a distinct sector.

Spotlighting Ireland’s Climate Tech leaders

Our report highlights some of Ireland’s most innovative Climate Tech entrepreneurs, who are developing unique solutions to mitigate the impacts of climate change, sometimes without formal government support. The sector has emerged organically, but with recognition and targeted investment, it has the potential to soar.

Key actions Climate Tech entrepreneurs can take today

Seek government and institutional support: Use available state support through grants, funding or incubator programmes. Leveraging these resources can provide a solid foundation for growth and innovation.

Prepare for funding challenges: Plan for the financial challenges of moving from proof-of-concept to commercial deployment. Explore diverse funding sources — including venture capital, private equity and government funds — to ensure financial stability.

Innovate with a global perspective: Focus on expanding reach internationally, targeting markets such as the UK, Europe, the US, and beyond. Innovation within Ireland’s Climate Tech sector can potentially influence global markets. Position your products and services for international impact to maximise growth opportunities.

We are here to help you

Our dedicated Environmental, Social, and Governance (ESG) team has extensive experience working alongside businesses to undertake tech-powered transformations that deliver sustainable outcomes and create real value. Together, we can make your climate actions count — contact us today.