The Endgame: Climate News - April 2025
- Thomas Panton
- Apr 9
- 5 min read
Welcome back to The Endgame - a monthly roundup of climate news from around the world from us at Endgame Capital 👋🏻
We post quick fire updates on our LinkedIn, make sure to follow us there for other updates on Endgame, thoughts from our founders, and insights into the venture capital world from a climate tech perspective. Endgame Capital is European climate tech VC investing in climate-denier-proof technology.
In this blog we dig into some of the good, the challenges, and the ones to watch! Any recommendations welcome - drop us a line in the comments.
Now to dig in…
The good 👇🏻
🐠 Fish approve this message
Offshore wind turbines are joining shipwrecks and oil rigs as unexpected marine habitats, attracting species like lobsters and haddock. A new study from University of Exeter’s Bicknell adds to growing evidence that these structures might support — rather than harm — certain sea life.
Why it matters: Offshore wind is booming in places like northern Europe and China, helping scale clean energy. In the U.S., though, progress is slower due to resistance from the fishing industry, which worries about impacts on marine ecosystems. New evidence helps disprove that resistance!
Source: Canary Media
🦄 Where impact pays dividends
Researchers at Sightline Climate tracked a jump in climate investment funds from 90 in 2018 to more than 400 in 2024. But it’s not just about funneling money into impact anymore - money matters.
Why this matters: Jon Pollock, chief executive of climate fund Elbow Beach said it best: “Those that are just looking for funding which doesn’t have that laser focus on improving the economic outcome for the end customer will continue to struggle even more.” - well aligned with what we think at Endgame too.
Source: Sightline / The Times
🇪🇺 EU snags talent as Trump pushes out academics
In response to Trump’s crackdown on academia, European universities are welcoming U.S.-based researchers with ‘scientific asylum.’ What’s a setback for America could be an opportunity for Europe, as its universities look to capitalise on the brain drain and keep vital research on track.
Why this matters: We’re bullish about the US, but as an EU based fund we can’t help but be proud to see us leading the way in pushing forward research on climate solutions. This is what will make the difference, and with our thesis driven approach we think there isn’t a better time to be backing climate tech in the EU.
Source: Positive News
👀 …a bonus?
🚀 Europe’s green edge gets sharpened
Clean tech is one of Europe’s greatest success stories. The EU has announced a mobilisation of €100bn Clean Industrial Deal and a new Industrial Decarbonisation Bank that will be a driver of growth for European industries!
Why this matters: Simpler rules means faster permitting! Strategic partnerships and trade agreements to secure critical raw materials. It’s just further clarity that clean technology is not only vital for our climate goals - it is essential for Europe’s competitiveness, good jobs, and long-term prosperity.
Source: European Commission
The challenges 👇🏻
🤺 Climate change has a combat budget
Defence spending is on the rise for all the obvious reasons. And with the EU and US falling out over NATO, countries are ramping up their responses. But UN’s climate chief Simon Stiell makes a stronger argument: Climate change has a combat budget.
Why this matters: With ‘natural’ disasters becoming more frequent and more intense, these threats are going to cause wider impacts than any conflict. It’s not about climate crises as we know them - we’re talking mass migration caused by unliveable regions.
Source: UNFCCC
💸 Hot future, cold hard losses
Time and time again we’re told the climate crisis is an economic crisis too. And now new research published in the Environmental Research Letters has shown that economic models have systematically underestimated how global heating will affect people’s wealth. They found that 4C warming will make the average person 40% poorer – an almost four-fold increase on some estimates.
Why this matters: We need to start thinking about how climate solutions make people wealthier. It can’t just be about mitigation for the future, but how they help the economic system grow. This is why we take a ‘capitalism first, impact by design’ approach!
Source: The Guardian
🤔 Clean energy boom, but carbon still looms
In 2024, over 700 gigawatts of clean energy capacity were added globally, according to a March report from the International Energy Agency. That’s more than double the amount from 2022. However, with electricity demand on the rise, more is needed to reduce carbon emissions — the power sector’s global emissions actually increased by 1.7%.
Why this matters: Whilst it’s brilliant that renewables are continuing to surge, this just proves that alternatives to the traditional models will be needed to tackle the big challenge of emissions. We’ve got exciting news on this front soon, keep your eyes peeled 👀
Source: IEA
Ones to watch 👇🏻
🌍 New funds, new frontiers
ImpactA Global has raised $200m for emerging market financing. ImpactA Global said there is a “growing appetite” among investors to contribute to the development of sustainable infrastructure in the Global South, while at the same time taking advantage of assets that can deliver attractive financial returns.
Why this matters: We’re almost always a UK, US, and EU investor, but as new markets grow and innovation becomes even more accessible we’re excited for what the future might hold! We invested in Kubik because the opportunity for impact and returns is huge.
Source: Impact Investor
🔋 Verkor rising - or Northvolt rewind?
The big question in France at the moment is whether gigafactory maker Verkor that raised $2.1bn for its EV battery factory can avoid the same mistakes as the almighty Swedish gigafactory Northvolt? It’s backed by Renault and is set to deliver its batteries to customers this year, but Northvolt had similar positive signals and we know what happened there…
Why this matters: With China and other asian leaders accelerating ahead with its manufacturing and dominance in this market, time will tell whether the EU can create its own security here, but is this the play we should be making, or are there better deals to be done?
Source: Sifted
💨 China: Emission Impossible
China is expanding its carbon market to include steel, aluminium, and cement in 2025, adding about 1,500 firms and covering 60% of the country’s emissions. But China’s economy continues to face headwinds from deflationary pressures and an escalating trade war with the US.
Why this matters: With other countries setting the precedent for regulation and carbon markets, it puts pressure on the rest of us to follow suit. Maybe soon, maybe not, but definitely positive shifts in the market.
Source: Bloomberg Green
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