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European Central Bank’s failure to decarbonize its quantitative easing
The European Central Bank (ECB) introduced criteria on September 19, 2022, to decarbonize its corporate asset purchases starting October 1, but Reclaim Finance contends these measures are inadequate. The ECB's scoring grid, based on climate reporting and targets, allows for 'tilting' rather than exclusion, meaning fossil fuel developers and massive emitters can still be included in purchase programs. The document highlights a lack of transparency regarding Paris Agreement benchmarks and compares the ECB's approach to a similar, unsuccessful methodology used by the Bank of England in 2021. The author concludes that the ECB is prioritizing market neutrality over carbon neutrality and failing to align its actions with EU climate goals.
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Document type: Statement
COMMENT ON THE PROPOSED CONCURRENCE WITH THE MINISTERIAL DETERMINATION ON THE PROCUREMENT OF NEW GENERATION CAPACITY OF 3000 MW FROM GAS
The document argues that the procurement of 3,000 MW of gas power is irrational, unlawful, and environmentally harmful. It claims the process was 'tailor-made' for an existing Eskom project, lacked adequate public consultation, and ignores the availability of cheaper, cleaner renewable energy alternatives. The authors assert that gas is not a 'bridging fuel' due to high methane leakage and that such infrastructure risks becoming a stranded asset, thereby threatening South Africa's climate commitments and constitutional rights to a healthy environment.
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Document type: Statement
ubcm-copy-6eac5d6a5e169bad.pdf
The Canadian Association of Physicians for the Environment has issued a formal letter to the Union of BC Municipalities (UBCM) protesting the acceptance of sponsorships from fossil fuel entities. The physicians argue that such partnerships create a conflict of interest and undermine municipal climate action, particularly given the severe health and economic impacts of climate-induced disasters in British Columbia and globally.
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Document type: Statement
Friends of the Earth Statement in Response to USDA’s Climate-Smart Commodities Announcement
Friends of the Earth argues that the USDA's $2.8 billion funding for 'climate-smart' commodities projects constitutes a corporate giveaway to major agribusinesses, potentially enabling greenwashing and further agricultural consolidation.
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Document type: Statement
Newly Released Text for Modernized Energy Charter Treaty Shows Too Many Potential Obstacles for Climate Action
The International Institute for Sustainable Development (IISD) asserts that the modernized Energy Charter Treaty (ECT) remains problematic due to persistent investor protections and unclear fossil fuel carve-outs. IISD notes that the ECT has been a primary vehicle for fossil fuel investors to challenge climate laws, with 17% of all such disputes brought under this treaty. The organization argues that retrofitting the ECT is insufficient and calls for a new investment treaty designed specifically to advance climate-friendly investments.
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Document type: Statement
REQUEST FOR INFORMATION: KARPOWERSHIP SOUTH AFRICA
The Centre for Environmental Rights, on behalf of Fair Finance Southern Africa (FFSA), is questioning the Mauritius Commercial Bank (MCB) about a US$ 140 million loan provided to Karpowership. The letter highlights environmental and legal concerns regarding Karpowership SA's projects in Coega, Richards Bay, and Saldanha, including the refusal of environmental authorisations by the DFFE and the potential for high methane emissions. FFSA seeks to clarify if MCB's financing ultimately supports these South African operations and how the bank assesses the associated material and climate risks.
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Document type: Statement
The Dirty Truth About “Clean” Gas
The briefing challenges the narrative that natural gas is a clean energy alternative, detailing the high methane potency and life-cycle emissions of LNG. It highlights that Bangladesh has over US $16 billion in gas infrastructure in development despite existing power overcapacity. The document argues that gas 'lock-in' impedes renewable energy adoption and notes that coal-to-gas conversions offer limited greenhouse gas reductions. It concludes by advocating for a total phase-out of fossil fuels in favor of utility-scale renewables to meet 2050 climate goals.
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Document type: Briefing
Les dirigeants du GFANZ donnent leur avis personnel contre le financement du charbon — ils devraient l'officialiser
The text acknowledges a personal statement by three GFANZ leaders calling for an end to new coal project financing but argues that this must be converted into an official GFANZ position. It further asserts that GFANZ sector-specific sub-alliances should update their guidelines to align with the Race to Zero requirement to phase out support for unabated fossil fuels.
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Document type: Statement
COMMENTS ON THE PROPOSED REGULATIONS PERTAINING TO FINANCIAL PROVISIONING FOR MITIGATION AND REHABILITATION OF ENVIRONMENTAL DAMAGE CAUSED BY RECONNAISSANCE, PROSPECTING, EXPLORATION, MINING, OR PRODUCTION, 2022
This document contains joint comments submitted by the Centre for Environmental Rights (CER) and seven other civil society organisations to the South African Department of Forestry, Fisheries, and the Environment (DFFE). The submission critiques the proposed 2022 regulations regarding financial provisioning for the mitigation and rehabilitation of environmental damage caused by extractive activities, arguing that the regulations should prioritise environmental protection and community rights over corporate profitability.
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Document type: Statement
Révision du label ISR : l’éléphant accouche d’une souris
Reclaim Finance argues that the proposed updates to the French ISR label are 'minimalist' and designed to ensure existing funds retain their label rather than drive a real energy transition. While the label may introduce exclusions for coal and unconventional energy, the organization warns that revenue-based thresholds could allow major oil and gas companies like TotalEnergies, BP, Shell, and ExxonMobil to remain eligible. Reclaim Finance specifically calls for the exclusion of companies developing new oil and gas fields to align with a 1.5°C trajectory and carbon neutrality by 2050.
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Document type: Statement
Krill, Baby, Krill
The report argues that krill fishing is inherently unsustainable as it threatens a fragile ecosystem already stressed by climate change. It highlights the dominance of Aker BioMarine in the market and identifies numerous European retailers and aquaculture companies that use krill-based feed or sell krill oil supplements. The document criticizes the Marine Stewardship Council (MSC) certification for failing to account for climate change and predator impacts, and calls for an immediate moratorium on krill fishing.
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Document type: Executive summary
Krill, Baby, Krill
The report argues that krill fishing is inherently unsustainable as it threatens a fragile ecosystem already stressed by climate change. It highlights the dominance of Aker BioMarine in the market and identifies numerous European retailers selling salmon fed with krill meal. The document criticizes the Marine Stewardship Council (MSC) certification for ignoring climate change effects and calls for an immediate moratorium on krill fishing.
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Document type: Executive summary
Krill, Baby, Krill
The report details how krill fishing, dominated by Aker BioMarine, exacerbates climate-driven threats to the Antarctic ecosystem by competing with key predators for food. It exposes a lack of transparency in supply chains, where krill meal is used in aquaculture feeds sold by major European retailers, and krill oil is widely sold as dietary supplements. The document criticizes the Marine Stewardship Council (MSC) certification for ignoring climate change and predator impacts, and calls for an immediate moratorium on krill fishing.
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Document type: Executive summary
Response from the Life After Coal campaign to the President’s energy crisis plan
The Life After Coal campaign expresses support for rolling out renewable energy and battery storage from the 2019 IRP but strongly opposes the use of the energy crisis to introduce gas into the electricity mix. The campaign argues that gas is not a transitional fuel and poses risks of stranded assets and higher costs for consumers. It further criticises the potential for privatising new generation and the lack of specific support for rooftop solar for poor South Africans whose housing may not support such installations. The document also warns that Eskom's repurposing plans favour expensive gas turbines over low-cost solar power.
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Document type: Statement
Phasing out polluting assets: GFANZ must ensure real decarbonization
The statement evaluates a GFANZ report on the managed phaseout of high-emitting assets, agreeing with the necessity of early retirement of fossil fuel infrastructure to meet 1.5°C goals but warning against 'paper decarbonization' where assets are sold rather than shut down. It criticizes the report's dismissal of divestment and the suggestion of using carbon credits to finance retirements, which could negate emissions benefits.
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Document type: Statement
Respuesta al Informe de Seguimiento al Plan de Acción e Informe de Cierre de Caso – Borrador Preliminar - MICI-BID-CH-2017-0115 Proyecto “Hidroeléctrico Alto Maipo”
The document argues that the MICI's decision to close the Alto Maipo case is premature and fails to hold the Inter-American Development Bank (IDB) accountable for environmental damage and human rights violations. It highlights severe reprisals against environmental defenders, including cyber-intelligence surveillance by AES Andes, and criticizes the IDB Invest's 'cut and run' divestment strategy, which the authors claim avoids responsibility for remediation. The authors emphasize that the project accelerated desertification in the Maipo River basin, threatening the water supply for over eight million people in Santiago, and call for a formal 'Responsible Exit' framework and a comprehensive reparation mechanism within the IDB's accountability system.
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Document type: Statement
GFANZ needs to tighten its recommendations on transition plans
Reclaim Finance has submitted comments to the Glasgow Financial Alliance on Net Zero (GFANZ) regarding its draft recommendations for net-zero transition plans. The organization argues that the current draft lacks sufficient emphasis on critical requirements, such as an immediate end to financing fossil fuel expansion and a commitment to a "fair share" of the 50% global emissions reduction needed by 2030. Reclaim Finance further suggests that GFANZ should implement stricter accountability measures, including the delisting of members who fail to adopt credible plans and ensuring that engagement with clients prevents the sale of high-emitting assets to other operators.
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Document type: Statement
Comments on June 2022 consultation draft of GFANZ document: “Financial Institution Net-Zero Transition Plans: Recommendations and Guidance”
Reclaim Finance argues that the GFANZ consultation draft lacks sufficient rigor and clarity, specifically regarding 2030 emission reduction targets, the cessation of fossil fuel expansion, and the definition of net zero. The organization advocates for the adoption of Race to Zero (RTZ) criteria, including a 50% reduction in financed emissions by 2030 and the requirement for permanent carbon removals (at least 1,000 years) to neutralize residual emissions. Reclaim Finance further challenges the classification of fossil gas as a transition fuel and calls for more stringent accountability mechanisms, such as the exclusion of financial institutions from alliances if they fail to implement credible, RTZ-aligned transition plans.
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Document type: Statement
The Biden Administration Must Reinstate the Coal Leasing Moratorium
The Northern Cheyenne Tribe is challenging the Biden administration's decision to maintain Trump-era coal leasing policies on public lands. The Tribe asserts that coal mining causes air and water pollution, destroys sensitive species habitats, and damages sacred cultural sites. While the administration promotes a transition to clean energy, the Tribe notes that coal consumption in the U.S. rose 14% in 2021. The author calls for a shift toward renewable energy projects—such as wind, solar, and storage—and remediation efforts that provide employment for Tribal members and mine workers.
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Document type: Statement
Solidaridad Internacionalista con el Pueblo Guaraní Kaiowá
Amigos de la Tierra Internacional condemns the 'Masacre de Guapoy' that occurred on June 24, 2022, in Mato Grosso do Sul, Brazil. During an illegal eviction of the tekoha Guapoy Mirin Tujury territory, the Military Police caused one death and at least 10 injuries, including a child shot with a 5.56 rifle. The document links this violence to the expansion of agrobusiness, the failure of the National Indigenous People Foundation (FUNAI) under Jair Bolsonaro's government, and a systemic pattern of state violence against indigenous land reclamation efforts.
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Document type: Statement