Cleantech sector insights for Q4 2023

Reports
Welcome to the Q4 2023 briefing. The Baltic cleantech sector is booming and leading the way in sustainable innovation. With active policy development and states' proactivity, the sector can expect more A rounds this year, facilitated by government-led support for science-based innovation and emphasis on greening production in the Baltics.

Highlights:

  • From 14-16 November, Tallinn became the global capital of cleantech as Cleantech Forum Europe brought together hundreds of sector leaders, including entrepreneurs, investors, policymakers and support organisations. The yearly event, organised by Cleantech Group, was also the occasion to launch their “2023 Cleantech 50 to watch”.
  • The 2023 United Nations Climate Change Conference, COP28, ended in mid-December with what its host, the United Arab Emirates (UAE), described as a “historic” agreement — but what some experts find to be a minor change. From the cleantech sector point of view, only the energy sector saw a note-worthy increase in ambition. The final agreement calls on countries to “contribute” to “transitioning away from fossil fuels,” which is a step forward compared to previous U.N. summits. Another step forward was led by the European Union and joined by over 120 countries that pledged to triple the world’s renewable energy capacity and double energy efficiency by 2030. This year, the first Global Stocktake took place, checking where the countries are on implementing the Paris Agreement, which was agreed upon in 2015.

  • From 13-17 November, a dedicated greentech exhibition, NEXPO Tallinn, showcasing the latest green technology innovations from around the world took place next door to Cleantech Forum Europe.
  • On December 7, Baltic Sustainability Awards took place in Riga, Latvia for the third time. The 2023 edition received more than 200 applications from all over the Baltics. On the occasion of this event, Cleantech for Baltics shared their thoughts about the sector, its regional developments and the event itself.

Prizes were awarded to leading sustainability companies in five key categories:

Climate Innovation – Puroceans Technology, Latvia

Circular Economy: Ringo Eco, Estonia

Renewable Energy Technologies: PVcase, Lithuania

Social Initiatives: Augstsprieguma tīkls (AST), Latvia

Future-Ready Urban Development: R8 Technologies, Estonia.

  • Vilnius has been named the European Green Capital 2025 in the final of the European Commission’s Green Cities 2025 Awards.

The full Cleantech sector insights for Q4 2023 can be found HERE.

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