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The report finds that private equity-backed fossil fuel facilities in the U.S. cause between $11.3 and $15.1 billion in annual human health damages, resulting in nearly 1,000 premature deaths and 1,500 emergency room visits per year. A small group of firms, specifically ArcLight, Energy Capital Partners, and Quantum Capital, are responsible for approximately 20% of these impacts. The General J.M. Gavin coal plant in Ohio is identified as the single most harmful facility, accounting for roughly 19% of all health impacts in the study. Regional analysis highlights disproportionate burdens in the Mid-Atlantic/New England area and the Permian Basin, with Texas ranking first in asthma onset and symptoms due to its large population and proximity to extraction sites.

The report examines how private equity firms use 'energy transition funds' to invest in 'false solutions'—technologies that are unproven, promote continued fossil fuel use, or lack accountability. It analyzes six specific industries: carbon capture, carbon trading, gas certification, hydrogen, biomass, and renewable natural gas. Through case studies of firms like BlackRock (GIP), Warburg Pincus, Quantum Capital Group, and Apollo, the report demonstrates a gap between sustainability claims and actual portfolio holdings, which remain heavily invested in fossil fuels. It concludes by providing due diligence resources for institutional investors to mitigate climate-related financial risks.

The report argues that the Opportunity Zone program, created by the 2017 Tax Cuts and Jobs Act, serves as a subsidy for private equity firms rather than a tool for community redevelopment. PESP identified $16.2 billion raised for Qualified Opportunity Funds (QOFs) by approximately 200 firms, with Bridge Investment Group Holdings, CIM Group, and Griffin Capital Company among the top beneficiaries. The document details how firms profit via capital gains tax deferrals and annual management fees, often ranging from 1.25% to 2%. Case studies in Los Angeles, Atlanta, and Arizona suggest the program encourages the development of luxury housing and the displacement of low-income residents through 'substantial improvement' requirements that necessitate evictions. The report also highlights political ties between major QOF investors and the Trump administration, and criticizes the lack of federal reporting requirements to track the program's actual impact on poverty.

The report argues that outsourcing critical school functions to private equity-backed firms prioritizes short-term profit over student wellbeing and worker stability, leading to lower service quality, increased staff turnover, and risks to student data privacy.

The 'Banking on Renewables' report critiques the current funding models of Multilateral Development Banks (MDBs), arguing that the rush to increase renewable energy capacity often leads to 'green extractivism' and human rights violations. It proposes three core criteria for public funding: financing a total transition to 100% renewables (excluding 'false solutions' like CCUS), ensuring democratic and decentralized energy systems, and centering people and the planet. Through case studies in India, Kenya, Rwanda, Tanzania, and Indonesia, the report contrasts large-scale projects that displace communities with community-led initiatives that improve local livelihoods. It concludes with a ten-point action plan urging MDBs to increase grants over loans, adopt a strict renewable energy taxonomy, and mandate Free, Prior and Informed Consent (FPIC) for all projects.

The document details a pilot flood insurance initiative in Kenya designed to provide financial resilience to vulnerable populations in flood-prone areas. Following a feasibility study in Tana River, Kilifi, and Kisumu counties, Britam Insurance Kenya and FSD Africa launched a product that provided payouts to 300 families in Tana River County during the October–December 2023 floods. The programme specifically targeted marginalized groups, with 75% of insured households headed by women, youth, or persons with disabilities. The initiative utilized catalytic funding from FSD Africa and premium subsidies from Oxfam Kenya, with Swiss Re covering 80% of claims, establishing a model for scaling climate adaptation and disaster response in other Kenyan regions.

Saglan Wajee General Hospital has introduced Efoy, a micro-health insurance product designed for underserved communities in Ethiopia. Supported by FSD Africa's BimaLab Insurtech Accelerator Program, the hospital secured a license from the National Bank of Ethiopia to launch Efoy 1.0, which attracted over 1,200 customers in its first year with annual premiums starting at 400 birr (4 USD) per child and 800 birr (8 USD) per adult. The subsequent Efoy 2.0 version expanded coverage to include chronic patients and services like MRI and medication, reaching an additional 900 clients. The hospital plans to expand its network to 130 health facilities and open a branch in Addis Ababa.

Farm to Feed addresses food waste in Kenya by purchasing surplus and imperfect produce from farmers and selling it to B2B customers or donating it to schools. Supported by FSD Africa's Catalyst Fund, the company has scaled its network from 300 to 6,000 farmers, resulting in a 41% increase in farmer incomes and the prevention of 1,000 tonnes of CO2 emissions by saving 920,000 kg of food.

VUA Inc. is a social enterprise addressing the financial instability of small-scale fishers in Kenya, who face irregular incomes and limited access to formal credit. Supported by $55,000 in seed capital from the Triggering Exponential Climate Action (TECA) programme, VUA Inc. piloted a platform on Kiwayu Island that allows 38 fishermen to save during high seasons for use during lean periods. The enterprise also provides an AI-powered financial literacy tool, a small-scale loan programme for sustainable fishing equipment, and hygiene training to improve product value and environmental practices.

AquaMnara provides Kenyan aquaculture farmers with technical training, linkages to certified suppliers, and an e-voucher credit system to overcome financing gaps and environmental challenges. The initiative supports sustainable productivity, specifically targeting women through the provision of aquaculture cages and training, and has enabled individual farmers to expand operations and adopt solar-powered infrastructure.

A collaboration between FSD Africa and InfraCredit provided 1.6 billion Naira in local funding to DarwayCoast for solar mini-grid projects in Southern Nigeria. The initiative aims to provide clean energy to nearly 8,000 rural households across six sites in Abia and Rivers States, with 541.76 kW of solar energy expected by September 2023. FSD Africa provides technical support to help greenfield projects meet due diligence criteria, while InfraCredit uses a credit guarantee model to enable high-impact investments in the energy transition.

FSD Africa and FirstRand have collaborated to implement TNFD frameworks within the African financial sector, focusing on capacity building and piloting disclosures in high-impact sectors like agriculture and extraction. The initiative included training 10 C-suite or board-level executives and conducting regulatory road-mapping and networking events via the African Natural Capital Alliance (ANCA) to address the continent's natural capital financing shortfall.

The Moroccan National Railways Office (ONCF) issued Morocco's first infrastructure Green Bond in 2022, raising 1 billion Moroccan dirhams (approximately £80 million) to refinance the high-speed rail link connecting Tangier to Kenitra. This rail service is powered entirely by wind energy and is expected to reduce CO2 emissions by over 2.5 million tonnes over 30 years. The financing was supported by partners including CDG Capital, the European Bank for Reconstruction and Development (EBRD), and FSD Africa.

Kacha Digital Financial Services, Ethiopia's first private mobile money operator, is addressing the low insurance penetration rate in Ethiopia by introducing digital premium financing. In partnership with Lucy Insurance S.C. and Global Bank of Ethiopia, and supported by FSD Africa's BimaLab Insurtech Accelerator Programme, Kacha allows users to pay for motor vehicle and other insurance premiums via manageable instalments on a mobile platform. This initiative aims to support underserved groups such as MSMEs, farmers, and self-employed individuals who previously faced high upfront cost barriers.

Libélula has worked to support Peru's green MSME sector by building a community of entrepreneurs and facilitating dialogues with financial institutions and government bodies. Despite frequent government turnover that has stalled various initiatives, Libélula contributed to the passage of the Collective Benefit Enterprise Law (BIC Law) and helped the Ministry of Production develop a circular economy map. The organization emphasizes that collective social demand and community backing are essential to maintaining a green agenda across changing administrations.

The report details a multi-stakeholder event focused on enhancing drought resilience in the Americas. It covers the role of the UNCCD in global drought economics, WMO climate findings for Latin America and the Caribbean, the technical requirements for drought early warning systems (EWS), and case studies from the Southern Cone and the Yacyretá hydroelectric plant. The document emphasizes the need for science-policy integration, innovative financing models involving the private sector, and the use of science diplomacy to coordinate regional responses to climate-driven water scarcity.

The document details a multi-stakeholder event focused on drought resilience in the Americas, highlighting the critical role of Early Warning Systems (EWS) and the need for better integration between scientific research and public policy. It discusses global trends in drought frequency, regional climate impacts in Latin America and the Caribbean, and specific case studies such as the SISSA project in the Southern Cone and water management at the Yacyretá hydroelectric plant. The report emphasizes the importance of scientific diplomacy, innovative financing models involving the private sector, and the necessity of co-designing climate services with end-users to ensure sustainability and effectiveness.

Private equity firms control nearly 9% of Michigan's private sector workforce, with investments often linked to public pension funds like the State of Michigan Investment Board. The document details how this ownership model has contributed to bankruptcies in the automotive, retail, and hospitality sectors, as well as labor disputes and service reductions in healthcare and waste management. Specific examples include the bankruptcy of Joann and IAC Group, and child labor allegations at Hearthside Food Solutions.

BCP and Attawfiq Micro-Finance launched Morocco's first Gender Bond, raising USD 25 million to provide microloans and non-financial services to over 17,000 women, addressing systemic barriers to financial inclusion in both urban and rural areas.

The report highlights the risks faced by human rights defenders (HRDs) in Indonesia, using the Rempang Eco-City project as a case study. It details how residents of Rempang Island, including Indigenous seafarers, have faced violence, intimidation, and judicial harassment from government and private security forces while protesting a proposed USD11.6 billion glass and solar panel factory. The document notes that despite the goals of the Just Energy Transition Partnership (JET-P) to decarbonise Indonesia's economy, projects like the Rempang Eco-City—which would rely on coal power—have led to evictions and physical attacks on community members.