The figures show investment in climate-related financial technology firms reached $2.3bn across US and Europe. CommezVentures’ Climate FinTech Report 2024 tracks investments in over 600 fintech startups involved in carbon markets, energy management, carbon accounting, ESG reporting, natural capital, climate risk management, and supply chain analytics, among other areas. While climate startups are not immune from the headwinds hitting VC funding, they are outpeforming their peers in the wider ecosystem in their ability to attract investment, the report states. Total investment fell by 19% year-on-year for climate fintech, compared to the 38% drop in market-wide fintech funding levels. Unusually, this is one European fintech success story that outpaces growth in the US, attracting $1.4 billion in VC funding, compared to $881 million secured by US startups. Carbon markets and energy management were the sub-sectors to attract the most funding, raking in $729m and $530m, respectively, while carbon accounting fintechs came in third place with $333m of funding secured last year.