Davos 2023| Climate action and sustainability a big buzz word at the summit, say experts

The Indian startup ecosystem faced a difficult year in 2022, with fears of recession, a funding winter, and widespread layoffs. Venture capital investments dropped sharply from a record $35 billion in 2021 to just $24 billion in 2022. Despite these challenges, one area that remains a focus for many in the industry is climate action and sustainability.

Abhay Deshpande, Founder & CEO of Recykal speaking to CNBC-TV18 said, discussions about sustainability can be heard in nearly every corner of Davos. He added that almost 70 percent of the conference sessions are dedicated to topics related to the circular economy and sustainability.

Sowmya Balendiran, Co-Founder of Sea6, believes that the increasing focus on sustainability is a reflection of the growing realisation that there is no more time to waste in transitioning to a net-zero economy.