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Reclaim Finance recommends that French life insurers implement a Climate/Energy policy across all asset classes to end support for fossil fuel expansion. The guide details specific implementation paths for 'fonds euro' (general funds) and 'unités de compte' (unit-linked accounts), proposing a phased timeline from 2024 to 2026 to pressure asset management companies (SdG) into compliance through divestment threats and strict selection criteria.

Financial institutions (FIs) can leverage tools like RMI's Oil Climate Index plus Gas (OCI+) and satellite data to pinpoint methane 'hot spots' in oil and gas portfolios. Methane accounts for approximately half of the industry's Scope 1 and 2 emissions, yet emissions intensities vary by a factor of 10 or more between equivalent assets. The report highlights that 40% of needed methane reductions could be achieved through cost-neutral or net-profitable investments, such as leak detection and repair. With new regulations like the US Inflation Reduction Act's methane fee, FIs are encouraged to use this data to manage transition risks, set accurate disclosure targets, and steer client engagement toward immediate decarbonization opportunities.

Eighteen civil society organizations are calling on Crédit Agricole CIB to cease its role as a financial advisor for the Papua LNG project, led by TotalEnergies, ExxonMobil, Santos, and JX Nippon. The letter argues that the project, which includes 9 offshore wells and a 320km pipeline, would increase Papua New Guinea's energy and industry emissions by over 7% and generate 220 million tons of CO2 equivalent in scope 3 emissions. The authors highlight risks to frontline communities in Gulf Province, potential stranded assets due to a projected 72% decline in global gas demand by 2050, and a lack of guaranteed sales agreements. The organizations demand that Crédit Agricole withdraw from the project, end financial services for new gas fields and LNG terminals, and condition services to TotalEnergies on a commitment to stop new upstream and midstream oil and gas projects.

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.

Private equity investments in nearly 2,700 oil and gas wells on federal and tribal lands in the western United States could leave taxpayers with cleanup costs up to $384 million. The report identifies 19 private equity firms, including Blackstone and Carlyle Group, that invested in 35 companies permitted to drill on federal lands since 2017. Current regulations only require companies to set aside approximately $5.7 million for cleanup, representing 1.5% of the estimated total cost. Colorado and New Mexico face the highest potential liabilities, with estimated cleanup bills of $161 million and $108 million, respectively.

The report identifies 19 private equity firms investing in 35 oil and gas companies that have received federal drilling permits since 2017. It estimates that U.S. taxpayers could face up to $384 million in cleanup costs for nearly 2,700 wells operated by these private-equity-backed companies across eight states, with Colorado and New Mexico facing the highest liabilities. The authors argue that the private equity business model—characterized by high leverage and quick exits—combined with outdated federal bonding requirements (averaging only $2,122 per well) and bankruptcy laws, allows firms to externalize environmental costs. The document also highlights 'greenwashing' strategies, such as the promotion of 'certified gas,' used to maintain investor support despite ongoing fossil fuel expansion.

The report argues that the coal sector is not aligned with 1.5°C targets and poses significant financial risks, including over US$1.4 trillion in potential stranded assets. It recommends that banks immediately cease financing new coal projects and implement a timed escalation strategy to exit coal exposure by 2030 in OECD and European countries, and by 2040 worldwide. Key requirements for coal companies include the adoption of public, asset-by-asset phase-out plans and just transition strategies for workers and the environment.

The report analyzes the March 2023 collapse of Silicon Valley Bank (SVB), attributing it to poor risk management, interest rate hikes, and the 2018 rollback of Dodd-Frank regulations. It highlights that while private equity (PE) firms faced immediate disruptions to subscription line loans, they may ultimately benefit by expanding into the private credit market. The author argues that the federal guarantee of all deposits prevents systemic collapse but risks incentivizing future risky behavior, recommending a return to stricter banking thresholds and the restoration of the Glass-Steagall Act.

The report finds that Carlyle and NGP have significant exposure to transition risk, with a large portion of their planned capital expenditure for upstream oil and gas projects incompatible with the Paris Agreement's goals. It argues that Carlyle's 'net zero' targets are insufficient because they exclude Scope 3 emissions and minority investments, and suggests that investors push for stronger transition planning and transparency.

The report finds that Carlyle and NGP have significant exposure to transition risk, with a large portion of their planned capital expenditure for upstream oil and gas projects incompatible with the Paris Agreement's goals. It argues that Carlyle's 'net zero' target is insufficient because it excludes Scope 3 emissions and minority investments, and warns that continuing to expand fossil fuel production risks creating stranded assets as global demand shifts toward renewables.

The report finds that The Carlyle Group and NGP Energy Capital have significant exposure to transition risk, with a large portion of their upstream portfolio's planned capital expenditure incompatible with the Paris Agreement's goals. It argues that Carlyle's 'net zero' targets are insufficient because they exclude Scope 3 emissions and minority investments, while its investment strategy continues to favor production expansion despite IEA warnings that no new oil and gas fields are needed for a 1.5°C scenario.

The document argues that while the costs of climate action are high, the costs of inaction are higher, noting that physical climate risk has already increased the cost of capital for V20 countries by USD62bn over 10 years. It proposes a three-pillar policy framework: providing clarity on green investments via taxonomies, tilting investment toward green opportunities through de-risking and carbon pricing, and building green investment pipelines. Key mechanisms suggested include the use of junior capital by development finance institutions to mobilize private investment, the removal of fossil fuel subsidies, and the implementation of carbon border adjustment mechanisms (CBAMs). The summary concludes with a list of 101 specific policy ideas across sectors including energy, transport, and agriculture to be detailed in a full report.

The Green Climate Fund (GCF) has developed a policy to protect its commitment authority from foreign exchange (FX) volatility, primarily driven by non-USD denominated promissory notes. The proposed strategy prioritizes natural hedging, followed by the use of derivative financial instruments—specifically FX spot, forward, and swap contracts—to lock in the USD value of future encashments. To implement this, the GCF intends to outsource execution to an external third-party provider and establish a USD 50 million collateral reserve. The policy aims to increase funding predictability and reduce the required size of the FX commitment risk buffer.

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.

The report analyzes the financial exposure of Coal India Limited (CIL), Indian Railways (IR), and NTPC to the energy transition using a Green Economy Model (GEM). It compares a Business-As-Usual (BAU) scenario with an Aspirational scenario aligned with net-zero goals to calculate 'cash flow at risk' (CFaR). The findings indicate significant long-term financial risks for all three entities, particularly in the 2030–2040 period. To mitigate these, the report proposes diversification into solar photovoltaics, battery storage, and operational reforms, while emphasizing the need for a just transition for coal-dependent communities.

The report contends that Europe's rapid expansion of LNG import capacity in response to the Russian gas crisis is disproportionate and environmentally damaging. It argues that new terminals will not address short-term energy needs due to long construction timelines, will create carbon lock-in, and increase methane emissions, particularly from US shale gas. The author asserts that existing capacity is sufficient to meet demand under net-zero scenarios and that funds should instead be diverted to renewable energy and energy efficiency to avoid worsening energy poverty and impacting the Global South.

The document asserts that the peak of fossil fuel demand marks the transition from a period of growth to one of systemic decline, characterized by falling volumes, prices, and profits. This shift leads to stranded assets, increased cost of capital, and corporate failures, leaving the sector vulnerable to financial market volatility and short-selling once immediate supply shocks subside.

The briefing highlights the growing financial threats to the US housing market from climate-related hazards, noting that over 79 million properties face wildfire risk and 14.6 million are susceptible to substantial flood damage. It emphasizes that low-income families and communities of color are disproportionately affected, citing that during Hurricane Katrina, homes owned by Black residents were three times as likely to experience flood impacts. The document advocates for the use of property-level climate data and the utilization of funding from the Inflation Reduction Act—which provides billions for climate justice, affordable housing resilience, and NOAA community efforts—to future-proof homes. It calls on regulators like the CFPB and FHFA to lead the industry toward climate-aligned housing standards and equitable financing solutions.

ClientEarth warns EMR Capital that financing the proposed Whitehaven coal mine in West Cumbria poses significant climate-related financial risks and may breach fiduciary duties to investors. The letter highlights the mine's incompatibility with the 1.5°C warming limit and the likelihood of it becoming a stranded asset due to declining demand for coking coal in the UK and EU steel industries. ClientEarth further asserts that the investment contradicts EMR Capital's status as a UN PRI signatory and its own ESG policy, potentially exposing the firm to legal challenges and accusations of greenwashing.

The report finds that the global steel industry is not on track to meet IEA Net-zero 2050 targets, as the shift from carbon-intensive BF-BOF to cleaner EAF technology is too slow. Current capacity under construction is more heavily weighted toward BF-BOF than the existing operating fleet. Asia, particularly China and India, is the primary hotspot for new BF-BOF capacity. This trend creates a significant stranded asset risk estimated between 345 and 518 billion USD. Additionally, the report highlights that accounting for coal mine methane could increase the sector's reported emissions footprint by 27%.