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  • Writer's pictureAgrim Sharma

Israel will invest $880 million in climate technology research and development.

Updated: Jun 27, 2022

Israeli Prime Minister Naftali Bennett declared climate change a "national security" priority on Sunday, promising to "facilitate" green energy investments.

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27th of June, Jerusalem (IANS) The Israeli Ministry of Environmental Protection has announced a 3 billion shekel (approximately $880 million) investment to support climate technology innovation.

According to the ministry, the decision is aimed at accelerating innovation in Israel's climate tech ecosystem to support Israel's efforts to address the climate issue.

The decision's major quantitative goals to support climate innovation are expected to be met by 2026.

These objectives include tripling the number of applied studies, patents, start-up businesses, and pilot projects involving climate technologies conducted on state infrastructure, increasing the number of fundraising agreements and Israeli venture capital funds specializing in climate technologies, and fostering international collaboration in research.

According to the ministry, the plan also calls for the construction of a technology incubator to support initiatives and the use of satellites to monitor environmental risks and climate change.

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