President Biden’s ‘Race to Zero’ to reduce carbon emissions is underway, and go-ahead companies are jockeying to deliver emerging tech solutions to win it.
Leading nations including the USA (2nd biggest carbon emitter globally*), UK (17th), France (19th), Denmark, New Zealand, Japan(5th), and South Korea (8th) have committed to reaching net-zero by 2050. The world’s No1 emitter, China, has committed to net-zero by 2060. However, the International Energy Agency forecasts 2021 carbon emissions will be the second-highest ever recorded annually.
"It's easy to see the financial and environmental benefits of using advanced technology to accelerate the launch of ‘Race to Zero’, pushing back against urban pollution, health risk and Climate Change and a future multi-trillion-dollar cost in economic and environmental damage," said Vector Innovation Fund Co-Founder & The World Nano Foundation’s Paul Stannard.
Cities cover just 3% of the Earth but contribute 70% of global carbon emissions. Advanced technologies can provide the essential interconnectivity to drive this down.
Yet many tech companies say the tools for reaching net-zero already exist. One sector, in particular, is forging ahead in the battle to reduce carbon emissions in our cities using AI Digital Twin technology.
One Digital Twin market pioneer involved is Cityzenith’s whose SmartWorldOS™ software platform can create virtual replicas of buildings and urban areas to track, manage and optimize carbon emissions to minimize environmental damage.
The US company’s tech is currently deployed in multiple international megaprojects, including a substantial ground-breaking de-carbonization energy scheme for US cities.
Cityzenith’s CEO Michael Jansen said, “Cities are the key battleground, and that’s why we made our ‘Clean Cities – Clean Future’ pledge to donate our SmartWorldOS™ software platform to key cities one by one to drive down their carbon emission”.
Swiss-based company Climeworks has focused on carbon capture rather than emission management. Its Orca facility is designed to suck some 4,000 tons of carbon dioxide from the air each year.
Climeworks Christoph Beuttler believes carbon capture facilities like Orca must go mainstream if we are to reach net-zero:
"In order to stay within the 1.5-degree goal (to avoid Climate Change), we have 8-10 years left of current emissions, and we will not make that so, globally, we will have to remove CO2 from the atmosphere permanently."
Fortunately, technology now attracts significant investment. Cityzenith has added over 5000 investors as part of its $15m Regulation A+ crowdfunding raise since the end of 2020. Climate-focused investment funds such as US-based Congruent Ventures and the European fund, 2150, have recently supported start-ups and companies developing essential climate solutions. This form of investment is forecasted to run into trillions of dollars in the next 5 to 10 years.
But Cityzenith's Jansen added: " We must invest immediately, to act now and more effectively to protect our planet. "
Jansen's upcoming FREE investment webinar, 'Join The Race to Zero – Investing in Technology For Sustainable Cities,' will take place virtually on Tuesday 11 May at 08:00 CT and 13:00 CT. To learn more about using emerging tech to combat Climate Change, please sign up here
The World Nano Foundation is a not-for-profit membership organization with 75,000 subscribers and users in 40 countries working on international commercialization of nanoscale technologies in 16 industry sectors and collaborates with a wide variety of partners, maximizing support and funding bringing advanced technology to the world and commerce. This is supported by many industries and academic groups developing and creating a legacy for enabling technology innovation.
Vector Innovation Fund (VIF) is a Reserved Alternative Investment Fund (RAIF) specializing in support for technology companies able to transform and protect global markets, notably in global healthcare, enabling technology, sustainability, and longevity aligned to the UN's SDG principles. VIF’s first sub-fund focuses on ‘Pandemic Protection’, and preparedness for future healthcare technology. This fund structure is domiciled in the world-renowned Luxembourg jurisdiction and is only open to international accredited and professional investors, such as family offices, UHNW, private placement investors, pension funds, international banks, ESG investors and sovereign wealth funds. The General Partners have an excellent track record in industry, healthcare, technology and investment, with 21 exits and total value creation of $2.4billion, including two successful IPOs.
Cityzenith is based in Chicago with offices in London and New Delhi. The company's SmartWorldOS™ Digital Twin platform was created for anyone designing, constructing, and managing complex, large-scale building projects, properties, and real estate portfolios but has developed to cover infrastructure, energy projects, transport, health, people movements, and whole cities.
Climeworks is a Swiss company specializing in carbon dioxide air capture technology. The company filters the CO₂ directly from the ambient air through an adsorption-desorption process.
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