Globalization in Climate Tech

Investment and project deployment trends, regional policy profiles, and case studies around the world

About this report

As US federal support for climate projects shifts toward defense and national security, other regions have an opening to lead. This report, produced with HSBC Innovation Banking, examines climate tech investment and project deployment outside the US.

It covers venture investment trends, regional policy profiles, and case studies across Europe, India, MENA, Latin America, and Singapore, and shows where developers are finding faster permitting, cheaper feedstocks, and scale.

Key findings

Europe raised $11.9bn in climate tech VC in 2024, compared with $16.1bn in the US.
India saw more climate tech IPOs in 2024 and 2025 than the US and Europe combined.
84% of the ammonia project pipeline by capacity sits outside the US.
Europe leads the global low-carbon cement pipeline in development and construction.
India's Green Energy Corridors program has enabled 20GW of new renewables capacity.