Funding activity in the climate sector dropped to a four-year low in Q3 2024, according to data gathered by tracking firm CB Insights. The headline figures are that new investments stood at $4.8 billion in the quarter, which is the lowest level since 2020. This was spread across 461 deals, which is a 27% fall compared to Q2 2023. The number of M&A exits fell 54% quarter-to-quarter, to just 43 deals – the lowest since Q3 2020. There are a couple of glints of promise in the news. Three new billion-dollar-plus ‘unicorns’ emerged in the quarter, which is potentially good news, as the previous two quarters had none. In addition, the median deal value in the US, the largest market,…