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LONDON, Nov 13 (Reuters) - Start-up firms in the green technology industry are missing out on capital and need a new funding model, a senior JP Morgan (JPM.N) banker said at a Reuters event in London on Monday.. "We need to build a funding model for green tech companies," Chuka Umunna, JP Morgan's head of EMEA ESG and green economy investment banking, told the Reuters Energy Transition Europe 2023 event...
Umunna said most of the capital raised in green technology was flowing to sectors including electric vehicles and low-carbon energy, while others such as sustainable food ecosystems that "in some cases make more of a contribution to global greenhouse emissions" are were not seeing the same amount...
Capital raising for green technology companies in general had not been immune to geopolitical ructions "spooking the market", as well as worries about a weak economy, particularly in Europe and in public markets, Umunna said...
