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OPEN LETTER TO THE UNITED NATIONS DEVELOPMENT PROGRAMME
A coalition of civil society organisations condemns the UNDP's signing of an MoU with the Musina-Makhado Special Economic Zone (MMSEZ) in South Africa. The letter argues that the MMSEZ is a coal-dependent project that would generate approximately 1 billion tonnes of CO2 equivalent over its lifetime, jeopardising South Africa's Paris Agreement commitments and exacerbating water insecurity in the Limpopo region. The authors further claim that the UNDP's grievance mechanisms, specifically the Stakeholder Response Mechanism (SRM) and the Social and Environmental Compliance Unit (SECU), are inadequate because they are reactive and do not cover non-binding MoUs that lend legitimacy to flawed projects.
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Document type: Statement
We Mean Business Coalition statement on the G7 Summit 2022
The We Mean Business Coalition argues that the 2022 G7 Summit missed a critical opportunity to provide the clear policy signals and concrete actions needed to accelerate the energy transition. While acknowledging the reaffirmation of power system decarbonization by 2035 and the welcome of the International Sustainability Standards Board, the Coalition warns that emergency responses to replace Russian gas must not lock nations into new fossil fuel infrastructure. The statement calls for specific measures, including 70% renewable power by 2030, increased energy efficiency, and the scaling of heat pump technology, to align with Paris Agreement objectives.
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Document type: Statement
東アフリカ原油パイプライン(EACOP)事業による三井住友銀行への重大なリスクについて
The document argues that SMBC's involvement in the EACOP project contradicts its own environmental and human rights commitments, exposing the bank and its directors to litigation, reputational damage, and stranded asset risks. It details specific human rights abuses and environmental threats associated with the pipeline and demands a full withdrawal from the project.
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Document type: Statement
東アフリカ原油パイプライン(EACOP)事業による三井住友銀行への重大なリスクについて
The document argues that SMBC's role as a financial advisor and lead arranger for the EACOP project contradicts its own environmental and human rights commitments. It highlights risks including human rights abuses, biodiversity loss, and the potential for the pipeline to become a stranded asset in a net-zero transition. The authors warn that continuing this support could lead to greenwashing accusations, legal liability for directors under Japanese law, and severe reputational damage, especially as other global financial institutions withdraw their support.
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Document type: Statement
Significant risks to SMBC from East African Crude Oil Pipeline (EACOP) project
The document argues that SMBC's reported role in the EACOP project exposes the group to reputational, financial, and legal liabilities, while contradicting its own environmental and human rights commitments.
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Document type: Statement
Empty words, hollow promises, and false solutions ring loud at Bonn conference on climate change
A collection of statements from global civil society organisations criticizing the Bonn climate conference for the failure of developed nations to provide loss and damage finance, their continued reliance on fossil fuels, and the promotion of 'false solutions' like geoengineering and carbon markets.
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Document type: Statement
Virginia Metro board member Matt Letourneau’s conflict of interest
A coalition of environmental organizations argues that Metro board member Matt Letourneau is violating the agency's Code of Ethics due to his role as managing director at the U.S. Chamber of Commerce's Global Energy Institute and his receipt of campaign contributions from oil and gas interests. The petitioners claim Letourneau uses his position to advocate for compressed natural gas (CNG) buses and hydrogen fuel cells over battery electric buses, despite evidence that CNG and diesel buses have similar lifecycle carbon emissions and that electric buses are more reliable and cost-effective.
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Document type: Statement
Striking against the neoliberal university
The text examines the crisis in UK higher education, highlighting industrial disputes led by the University and College Union (UCU) over pay, pensions, and precarious working conditions. It critiques the 'academic capitalism' model, where students are treated as customers and universities as businesses, noting that this system undermines the critical thinking needed to address climate change. The author advocates for the abolition of student fees, the democratisation of university governance, and a shift in mission toward leading radical transformations for a just and sustainable future.
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Document type: Statement
Delegated Acts on Hydrogen
ClientEarth contends that the proposed delegated acts on RFNBOs undermine the principle of additionality, potentially cannibalising renewable electricity needed for other sectors and violating the European Climate Law and the energy efficiency first principle.
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Document type: Briefing
RePower EU Proposal for a REDII amendment
The document critiques the REPowerEU proposal's attempt to accelerate renewable energy permitting, claiming it bypasses essential environmental assessments and violates EU administrative procedures.
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Document type: Briefing
Fossil futures built on a house of cards
The report critiques the 'net zero' framework and the expansion of carbon offset markets, asserting that they create a false equivalence between carbon removals and avoided emissions. It argues that these mechanisms serve as a 'house of cards' designed to protect stranded fossil fuel assets by providing a veneer of climate action while allowing ongoing emissions. The document specifically highlights the efforts of the Task Force on Scaling Voluntary Carbon Markets (TSVCM) and the Architecture for REDD+ Transactions (ART-TREES) to standardize and commodify different types of carbon credits to increase market volume. It concludes that the only viable path to limiting warming to 1.5°C is a rapid, just transition to renewable energy and the immediate phase-out of fossil fuels, rather than reliance on speculative carbon removal technologies or flawed offsetting schemes.
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Document type: Report
Le pari fossile sur l’avenir repose sur un château de cartes
The document critiques the 'fossil bet on the future,' claiming that carbon offsets and net-zero goals serve as a 'house of cards' to maintain fossil fuel dependence. It specifically targets the amalgamation of carbon capture, emission reductions, and avoided emissions into single, fungible credit units, arguing that such mechanisms do not actually reduce atmospheric CO2 and may lead to increased warming. The report highlights the role of the Task Force on Scaling Voluntary Carbon Markets (TSVCM) and ART-TREES in standardizing these credits to facilitate financial speculation and the 're-floating' of stranded assets.
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Document type: Report
Crédit Agricole's AGM: To-do list for a green bank
Reclaim Finance asserts that Crédit Agricole's claim to be a "green bank" is contradicted by its continued support for oil and gas expansion, which violates the International Energy Agency's Net Zero scenario and IPCC findings.
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Document type: Statement
Société Générale's 2022 AGM: Stop Fueling Oil and Gas Expansion
Reclaim Finance argues that Société Générale's 2022 policy is inadequate and allows the bank to continue funding major fossil fuel developers, noting that the bank provided $34 billion to the top 100 fossil fuel developing companies.
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Document type: Statement
BNP Paribas's 2022 AGM: To-do list for the climate
Reclaim Finance identifies BNP Paribas as a leading European supporter of fossil fuel expansion and calls for the bank to cease funding new oil and gas fields and infrastructures to align with a 1.5°C scenario.
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Document type: Statement
Outcome of last year’s fisheries negotiations
ClientEarth and other NGOs express disappointment over a CEFAS report revealing that only 35% of 2022 UK-relevant fisheries catch limits were set in line with scientific advice, with nearly two-thirds exceeding those limits. The authors argue this failure violates the Fisheries Act and the 'Leader’s Pledge for Nature', and they request transparency regarding which TACs the UK advocated to set above scientific advice.
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Document type: Statement
Ten Essentials for a Truly Green Green Equity Approach
The document critiques the IFC's Green Equity Approach (GEA), noting that while it commits to ending equity investments in financial institutions without a plan to phase out coal by 2030, it contains loopholes that allow continued fossil fuel support. It proposes ten specific reforms, including ending support for new oil and gas projects, scaling up renewable energy, and adopting a rights-based approach with full transparency.
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Document type: Statement
Decoding the coming AGM
Reclaim Finance asserts that Equinor's climate plan is insufficient to meet 1.5°C targets, noting that the company will exceed its carbon budget by 2037. The statement criticizes Equinor for continuing to develop new fossil fuel resources, including unconventional and Arctic projects, and for relying on unproven CCUS scalability. It recommends that shareholders reject the company's transition plan and support resolutions calling for absolute GHG reduction targets and a cessation of exploration.
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Document type: Statement
Urgent call to veto Commission proposal on releasing allowances from the market stability reserve to finance REPowerEU measures
A coalition of NGOs argues that releasing 200-250 million allowances from the Market Stability Reserve to generate EUR 20 billion for REPowerEU would increase atmospheric emissions and fund fossil fuel infrastructure, thereby undermining the European Green Deal and the Paris Agreement.
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Document type: Statement
Questions écrites pour BNP PARIBAS
Reclaim Finance has submitted a series of critical questions to BNP Paribas ahead of its May 2022 General Meeting. The document argues that the bank's current sectoral policies are insufficient to meet a 1.5°C warming trajectory, citing continued support for major oil and gas developers like Shell, BP, and TotalEnergies. It specifically highlights the bank's indirect support for the EACOP project in Uganda and Tanzania, its failure to exclude parent companies of coal miners like Glencore and RWE, and its financial ties to companies linked to tropical deforestation. The organization calls for a total stop to new fossil fuel infrastructure financing and more stringent exclusion criteria for non-conventional hydrocarbons and coal.
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Document type: Statement