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The report exposes how 'Big Meat and Dairy' corporations employ strategies similar to those of the tobacco and fossil fuel industries to avoid environmental regulation. It identifies three primary tactics: distracting the public through greenwashing and targeting Gen Z via social media; delaying action by promoting voluntary targets and industry-funded science (such as GWP* metrics and 'regenerative agriculture'); and derailing legislation through political lobbying and 'revolving door' appointments. The analysis covers 22 major corporations across four continents, highlighting a systemic lack of scientific integrity in their climate goals and a preference for spending on advertising over low-carbon research and development. Specific case studies in the US, EU, Brazil, Australia, New Zealand, Italy, and Great Britain illustrate how these tactics have successfully weakened policies like the EU Green Deal and the Global Methane Pledge.

Reclaim Finance criticizes Amundi, Europe's largest asset manager, for its inconsistent and insufficient voting practices at the 2024 general assemblies of major European oil and gas companies. The analysis finds that Amundi frequently supports the reelection of directors and financial accounts of companies like TotalEnergies, Shell, and BP, despite these firms lacking climate plans aligned with a 1.5°C trajectory. While Amundi opposed some leadership reelections at Shell and BP, the lack of public justification leaves it unclear if these votes were based on climate concerns or general governance. Reclaim Finance calls for Amundi to implement systematic climate criteria that trigger automatic votes against resolutions when companies continue fossil fuel expansion.

The report highlights a policy gap in the operations of Allianz, Aviva, AXA, and Generali, noting that while these firms have pledged net zero emissions by 2050 and agreed to stop underwriting new oil and gas fields, they continue to provide capital to fossil fuel developers through bond purchases and asset management subsidiaries. It further criticizes these insurers for voting in favor of inadequate climate plans and executive remuneration at annual general meetings of oil and gas companies.

The Private Equity Stakeholder Project criticizes the SEC for removing scope 3 emissions requirements from its climate disclosure rule, asserting that this allows publicly-listed private equity firms to significantly underreport their carbon footprints and obscure risks associated with fossil fuel portfolios.

Reclaim Finance argues that current investor engagement strategies, including the Climate Action 100+ initiative, have failed to produce meaningful climate action from the oil and gas sector. The organization highlights that most companies continue fossil fuel expansion and maintain minimal investment in clean energy despite high profits. Consequently, Reclaim Finance calls on asset managers to escalate their tactics by suspending new investments, voting against strategic routine resolutions, and issuing public statements to sanction companies that refuse to stop developing new upstream and midstream projects.

The report details how the plastics industry promoted recycling as a false solution to plastic waste despite knowing it was technically and economically unviable. It outlines a history of industry tactics, from promoting disposability in the 1950s to the current promotion of 'advanced recycling' as a means to avoid bans and maintain virgin plastic production.

Reclaim Finance asserts that EPH's commitment to exit coal by 2030 is a 'sleight of hand' because the company is transferring its coal assets to a new entity, EP Energy Transition, which is not bound by the phase-out date. The document further highlights EPH's role as the second-largest gas power developer in Europe, with over 4.7 GW in development, contradicting European decarbonization goals. It specifically urges Société Générale and its subsidiary Komercni Banka to cease financing EPH unless the company commits to a genuine coal exit by 2030 and halts new gas projects.

The F-List 2024 documents 1,010 fossil fuel contracts held by 590 advertising and PR agencies during 2023-2024. It highlights the role of major holding companies in sustaining the fossil fuel industry's public image and lobbying efforts, while noting a growing trend of agencies rejecting such clients due to talent retention risks and environmental concerns.

The report argues that the fossil fuel industry has shifted from outright climate denial to a strategy of 'duplicity,' using greenwashing and misleading claims to protect profits while expanding fossil fuel production. It details how companies like ExxonMobil, Shell, BP, and Chevron overstate their clean energy investments, set unrealistic or retracted emissions goals, promote unviable 'false solutions' such as carbon capture and algae biofuels, use front groups to lobby against climate policy, and shift responsibility for emissions onto individual consumers.

The document highlights the disparity between the high profits of global chocolate companies and the poverty of cocoa farmers, particularly in Ghana and Côte d’Ivoire. It argues that farmer poverty is a primary driver of environmental and social issues, including deforestation and child labor, and calls for companies to implement living income reference prices, fair contracts, and transparent reporting.

Reclaim Finance challenges the credibility of Crédit Agricole's December 2023 energy transition commitments, citing a lack of precise definitions for terms like "low-carbon energies" and "clean technologies." The organization argues that the bank's targets—including tripling annual renewable energy funding in France by 2030 to reach 3 billion euros—are insufficient compared to the International Energy Agency's (IEA) Net Zero Emission by 2050 scenario, which requires a 6:1 ratio of sustainable to fossil fuel energy financing by 2030.

The report alleges that Brookfield Corporation engages in greenwashing by underreporting its carbon footprint and maintaining significant fossil fuel investments, specifically through its ownership of Oaktree Capital, while publicly pledging to reach net-zero emissions.

Brookfield Corporation claims to be a leader in decarbonization with a goal of net-zero emissions by 2050, yet it maintains a vast portfolio of over 215 fossil fuel assets. The report estimates these assets emit nearly 159 million metric tons of CO2e annually, a figure approximately 14 times higher than what Brookfield discloses in its sustainability reports. A significant portion of these emissions stems from Oaktree Capital Management, which Brookfield owns 61% of but excludes from its sustainability reporting. The report also highlights the contradiction in the leadership of Mark Carney, who advocates for global net-zero targets while overseeing these investments. Geographically, the portfolio is concentrated in North America, with significant assets in the United States and Canada, as well as international investments in the United Arab Emirates.

The Private Equity Stakeholder Project argues that The Carlyle Group lacks transparency in its climate reporting by excluding its majority-owned subsidiary, NGP Energy Capital, from its ESG and net zero goals. The document notes that Carlyle has lagged behind peers in renewable energy fundraising and invested $16 in fossil fuels for every $1 invested in renewables between 2011 and 2021. It specifically highlights NGP's impact in New Mexico, where its portfolio company Tap Rock Resources has a history of emitting pollutants, and notes that Carlyle received $145 million in carried interest from NGP over the past year.

The report details the environmental and social degradation of Obi Island caused by the nickel industrial park operated by Trimegah Bangun Persada (TBP) and its subsidiaries. It specifically criticizes the IFC for providing funding to financial intermediaries—OCBC NISP, DBS Bank Ltd, and KEB Hana—which in turn finance TBP's operations. The author highlights that these operations rely on captive coal-fired power plants, which the report claims contradicts the IFC's Paris Agreement alignment and its own Performance Standards. Documented impacts include heavy metal contamination of marine biota, drinking water pollution exceeding Indonesian safety standards, high rates of Acute Respiratory Infection in children, and the displacement of local communities.

Reclaim Finance criticizes Natixis IM for its inconsistent climate policies across its 19 affiliates, highlighting that while some are compliant, others like Loomis Sayles continue to invest in fossil fuel expansion and coal. The organization urges Natixis IM and BPCE to implement a common climate roadmap and a coal exit policy for all affiliates to align with the 2019 commitment made by the Paris financial center.

The report alleges that KKR's public claims of environmental responsibility are contradicted by its investment portfolio, which is 78% rooted in fossil fuels. It highlights at least $9B in funding for gas and LNG projects and notes KKR's 2022 environmental ranking of 'D'. The document warns that these investments create financial, reputational, and regulatory risks for institutional investors, particularly pension funds, and calls for the firm to adopt science-based targets, full disclosure, and a clear transition plan.

The Private Equity Stakeholder Project (PESP) calls on Blackstone to implement enforceable labor standards across its global portfolio after the US Department of Labor found systemic child labor violations at Blackstone-owned Packers Sanitation Services Inc (PSSI). Despite initial denials, PSSI eventually reached an agreement with the United Food and Commercial Workers Union (UFCW) to protect workers' rights to organize. PESP asserts that child labor is a byproduct of broader issues like low wages and dangerous conditions, and urges Blackstone to adopt the Private Equity Labor Rights Platform and cease union-busting tactics.

The report argues that private equity firms have consolidated the disaster restoration market, leading to a decline in workplace standards and community protections. It details systemic wage theft, numerous OSHA safety violations—particularly regarding asbestos—and the paradox of firms profiting from disaster cleanup while owning high-emitting fossil fuel assets. The document calls for legislative action, such as the Climate Resilience Workforce Act, and stricter labor standards for private equity owners.

Reclaim Finance reports that the Paris financial center's transition away from coal has stalled, with many institutions maintaining weak policies or continuing to support coal developers. The analysis highlights gaps in exclusion criteria, the failure of passive funds to exclude fossil fuel bonds, and a lack of comprehensive exit plan requirements for portfolio companies. The document criticizes the French government for failing to legislate or enforce these commitments despite warnings from regulators.