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CEO Note: Stealing Steel Decarbonization
The document criticizes Nippon Steel and Cleveland-Cliffs for investing in coal-fired infrastructure despite public commitments to green steel. It highlights a $350 million renovation of a blast furnace at Gary Works by Nippon Steel and the refurbishment of a 73-year-old furnace by Cleveland-Cliffs in Middletown, Ohio, despite the latter receiving a $500 million Inflation Reduction Act grant for decarbonization. The author suggests that automotive companies and international markets, particularly in Europe, should use their purchasing power to pressure steelmakers to transition away from coal.
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Document type: Statement
CEO Note: Why JBS backing off net-zero is progress
Mighty Earth's CEO asserts that JBS's decision to drop its 2040 net-zero target exposes the company's lack of a credible climate plan. The author claims the original target was deceptive, focusing only on Scope 1 and 2 emissions while JBS continued to drive large-scale deforestation and expand cattle slaughter in Brazil and Nigeria. The document calls for continued pressure from investors and governments to push JBS toward large-scale solutions like regenerative practices and animal-free protein.
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Document type: Statement
The meat industry’s koala problem
The meat industry is identified as responsible for two-thirds or more of Australia's annual deforestation of over 700,000 acres. This land clearing, driven by cattle production for export to markets including the US, Japan, and Korea, results in the annual death or displacement of 50 to 100 million native animals and contributes to the degradation of the Great Barrier Reef through erosion and runoff. The author highlights a 'loophole' where Australian beef is often exempt from the conservation policies that companies apply to other regions like the Amazon.
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Document type: Statement
The Fraud of “Clean” Natural Gas
The provided text consists of appendices to a report by the Center for Climate Integrity. Appendix A lists trade associations, research institutes, and PR firms—such as the American Gas Association (AGA), the Gas Research Institute (GRI), and J. Walter Thompson—that collaborated to promote natural gas. Appendix B outlines a timeline from 1968 to 1996, detailing how the industry was alerted to methane's climate impact as early as 1968, launched a "clean energy" marketing campaign in 1972, and later promoted gas as a "bridge fuel" in 1990 despite internal uncertainties regarding methane leakage rates. It specifically highlights a 1996 GRI/EPA study that reported a 1.4 percent methane emission rate, which the document claims was heavily influenced by the industry and lacked independent technical review by the EPA.
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Document type: Report
CEO Note: JBS targets Africa for massive land-grab
Mighty Earth CEO Glenn Hurowitz warns that JBS, the world's largest meat company, is expanding its industrial model into Africa, securing 4,600 square miles of land in Nigeria for six meat-processing plants. The note highlights JBS's history of deforestation in the Amazon and Cerrado, labor abuses, and pollution, while noting a legal challenge by Greenpeace Netherlands to force disclosure of the company's climate and human rights policies. Mighty Earth is targeting JBS's global retail customers, such as Ahold Delhaize and Stop & Shop, to pressure the company into changing its practices.
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Document type: Statement
Our response to TotalEnergies on the Papua LNG project
Reclaim Finance and co-signatories argue that TotalEnergies has failed to adequately address concerns regarding the Papua LNG project, citing lack of transparency in climate and human rights assessments, failures in obtaining Free, Prior and Informed Consent from Indigenous Peoples, and insufficient evaluation of biodiversity and cumulative impacts.
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Document type: Statement
Papua LNG : notre réponse à TotalEnergies
A coalition of NGOs, including Reclaim Finance, asserts that TotalEnergies' response to their complaint about the Papua LNG project is insufficient. They highlight critical gaps in transparency regarding climate risk assessments, human rights impacts, and biodiversity studies. The authors argue that the project risks emitting 220 million tonnes of CO2, threatening endangered species and indigenous rights, while failing to provide clear information to local communities or adhere to the Equator Principles and IFC standards.
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Document type: Statement
CEO Note: There goes the Amazon Soy Moratorium
The Amazon Soy Moratorium, which prevented the purchase of soy from land deforested after July 2008, has collapsed after more than twenty companies, including ADM, Bunge, Cargill, and Louis Dreyfus, withdrew. This policy previously saved 17,000 square kilometres of rainforest in its first decade and allowed the soy industry to expand by over six million acres in the Brazilian Amazon by using previously converted lands. The author warns that the collapse could expose 3 million acres of forest to deforestation and increase Amazon deforestation by up to 30% by 2045, contradicting corporate pledges to eliminate ecosystem destruction. The text criticizes retailers like Sainsbury’s and E.Leclerc for failing to impose commercial consequences on the traders responsible.
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Document type: Statement
Big Oil’s Deceptive Climate Ads
The report analyzes over 300 advertisements from four oil majors, arguing that they used 'paltering'—mixing truth with omissions—to mislead the public about emissions reductions, renewable energy investments, and the viability of technologies like carbon capture and algae biofuels.
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Document type: Report
The Meat Agenda: Agricultural Exceptionalism and Greenwash in Brazil
The report examines how Brazil's agribusiness sector, despite being the country's largest climate polluter, maintains a privileged position through lobbying and 'corporate capture'. It highlights the omission of agricultural methane from Brazil's Nationally Determined Contribution (NDC) and warns that industry-led efforts at COP30, such as the 'AgriZone', aim to position the sector as a climate solution while resisting meaningful regulation.
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Document type: Executive summary
CEO Note: Legal victory on JBS
New York State Attorney General Letitia James secured a settlement requiring JBS to reform deceptive marketing practices, report progress to the state for three years, and pay $1.1 million toward climate-smart agriculture in New York. The settlement follows allegations that JBS falsely marketed a trajectory toward net-zero emissions by 2040 while expanding meat processing. Mighty Earth has also initiated a lawsuit in Washington, DC, for violations of the Consumer Practices Protection Act and a case with the UK Financial Conduct Authority regarding Barclays' underwriting of $3 billion in Sustainability-Linked Bonds for JBS. The document asserts that JBS excludes the vast majority of its climate footprint—over 95%—from its net-zero calculations by reporting only Scope 1 and 2 operational emissions. Additionally, the text highlights JBS's expansion into Nigeria with a $2.5 billion investment in six slaughterhouses, alongside its history of Amazon deforestation and Clean Water Act violations in the US.
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Document type: Statement
Crédit agricole : un double discours entre banque et gestion d’actifs sur le climat
Reclaim Finance identifies a 'double discourse' within the Crédit Agricole group, noting that while the parent bank has committed to ending oil and gas expansion, its subsidiary Amundi continues to invest in bonds issued by fossil fuel companies such as TotalEnergies, BP, Saudi Aramco, and Glencore in 2024 and 2025.
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Document type: Briefing
A Agenda da Carne: Excepcionalismo Agrícola e Greenwashing no Brasil
The report examines how Brazil's powerful agribusiness sector uses greenwashing and political lobbying to avoid climate regulation, specifically regarding methane emissions, as the country prepares to host COP30. It highlights the contradiction between Brazil's global climate leadership goals and the exclusion of agricultural methane from its Nationally Determined Contribution (NDC). The document details corporate efforts to shape the COP30 agenda through the 'AgriZone' and media partnerships, while criticizing structural weaknesses in the Brazilian Climate Plan, such as the exclusion of agriculture from the Emissions Trading System and the inefficiency of the ABC+ Plan. It concludes that the livestock industry's influence threatens the effectiveness of Brazil's climate commitments and the broader goals of the Paris Agreement.
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Document type: Executive summary
A Agenda da Carne: Excepcionalismo Agrícola e Greenwashing no Brasil
The report argues that Brazil's agribusiness sector exercises disproportionate political power to maintain 'agricultural exceptionalism,' allowing it to avoid strict climate regulations. It highlights the omission of agricultural methane from Brazil's Nationally Determined Contribution (NDC) and criticizes the industry's use of misleading metrics like GWP* to downplay emissions. The document also details corporate efforts by giants like JBS, MBRF, and Minerva to shape the COP30 agenda through sponsored events and media influence, while contrasting this industrial model with a more sustainable agroecological system led by small farmers.
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Document type: Report
L’influence sous-exploitée des assureurs-vie sur leurs gestionnaires d’actifs
The document argues that French life insurance companies are undermining their own climate goals by delegating investments to asset managers that support fossil fuel expansion. It highlights a gap between the climate ambitions of insurers—some of whom have stopped new bond investments in fossil fuel expansion—and the practices of managers like BlackRock and JP Morgan Asset Management. Reclaim Finance calls for the implementation of science-based selection criteria, clear deadlines for manager compliance, and more public, collective engagement to reduce financial risks associated with climate change.
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Document type: Statement
EPA Rollback: A New Era of Deregulation
The report details how the Trump EPA used a rare Clean Air Act provision to grant pollution exemptions to 52 facilities owned by 25 companies, including BASF, Shell, and Westlake. It highlights that these exemptions undermine the HON Rule, which aimed to reduce carcinogenic emissions by nearly 80%. The document further links these regulatory rollbacks to significant lobbying expenditures by the chemical industry and the American Chemistry Council, noting that several companies are expanding the very facilities that received exemptions.
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Document type: Report
CEO Note: Meat Industry’s Pyrrhic Victory
The CEO of Mighty Earth discusses the risks associated with JBS's listing on the New York Stock Exchange, citing a history of bribery, fraudulent climate claims, and pollution. While noting progress such as the suspension of 1,000 suppliers linked to deforestation by JBS and other Brazilian meatpackers, the author highlights ongoing failures in South American cattle companies to prohibit deforestation in the Cerrado, Pantanal, and Chiquitania ecosystems, as well as a general lack of methane pollution disclosure.
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Document type: Statement
Financing Marine Destruction: The LNG Boom and Bank Responsability
The report contends that the global expansion of LNG infrastructure, supported by major banks, threatens marine biodiversity through thermal pollution, habitat destruction, and increased shipping traffic. It specifically critiques the 'Argentina LNG' project in the Golfo San Matías and the proliferation of import terminals in the Philippines' Verde Island Passage, calling for banks to stop financing LNG developers to meet their climate pledges.
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Document type: Statement
Adani and Société Générale: the French Financial Markets Authority must act
Reclaim Finance argues that Société Générale is engaging in greenwashing by using a policy loophole to finance Adani Green Energy, despite the Adani Group's extensive coal expansion plans in India and Australia and various legal scandals involving its leadership.
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Document type: Statement
Adani et Société Générale : l’Autorité des marchés financiers doit agir
Reclaim Finance accuses Société Générale of greenwashing by exploiting loopholes in its sectoral policy to continue financing the Adani Group. While the bank committed in 2020 to stop supporting new coal projects, it continues to fund Adani Green Energy, which Reclaim Finance claims redirects funds to coal expansion. The document highlights Adani's plans to increase coal power capacity by 20,550 MW in India and expand mining in India and Australia, alongside allegations of financial fraud and corruption involving Gautam Adani. Reclaim Finance calls on the AMF to intervene against this misleading communication.
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Document type: Statement