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In 2023, China maintained its position as the world's largest green bond market, though issuance volume saw a slight decrease. The market is characterized by a strong focus on renewable energy and low-carbon transport, with increasing alignment with international standards like the CBI definitions and the Common Ground Taxonomy. While social and sustainable bonds saw a rebound in volume, they face challenges regarding information disclosure and the use of proceeds for general operations. Sustainability-linked bonds (SLBs) remain globally leading in volume, but few issuers utilize greenhouse gas emission reduction targets. Policy progress includes the introduction of the 'Green Bond Principles' and the emergence of local transition finance guidelines in cities like Shanghai and Chongqing.

In 2023, China maintained its position as the world's largest green bond issuance market, despite a slight decline in total volume. The market is characterized by a strong preference for short-dated debt and a growing reliance on Second Party Opinions to enhance credibility. While green bonds are increasingly aligned with the 100% Use of Proceeds (UoP) rule, social and sustainability bonds face challenges with transparency and disclosure. Sustainability-linked bonds (SLBs) are prolific in number but rarely utilize greenhouse gas (GHG) reduction targets. Policy drivers include the China Green Bond Principles and the China-EU Common Ground Taxonomy, alongside emerging local transition finance guidelines for hard-to-abate sectors like steel and chemicals.

The report examines the environmental and health risks associated with ASGM tailings, which often contain mercury and cyanide. It finds that while large-scale mining (LSM) has robust standards, ASGM lacks specific international and regional tailings governance, relying on general mining codes that are often poorly enforced due to sector informality. The document recommends the creation of an international ASM-specific tailings standard, the implementation of strategic environmental assessments (SEAs), and the development of formalization schemes to improve waste management and recover critical minerals from tailings.

The document analyzes the first Global Stocktake's signals on mitigation, adaptation, and loss and damage, highlighting the systemic challenges for the Global South. It argues that while the GST provides historic targets for transitioning away from fossil fuels and tripling renewables, it lacks concrete financial commitments. The brief emphasizes the need for the NCQG to address the 'trilemma' of climate goals, fiscal sustainability, and political feasibility by expanding fiscal space through non-debt instruments and reforming the international financial architecture.

Singapore's path to net-zero by 2050 depends heavily on importing renewable energy from neighboring countries due to severe domestic land constraints. While the Singapore Green Plan 2030 targets 2 GW of solar and 4 GW of imports, analysis suggests these must be significantly scaled up—potentially to 16 GW of imports by 2045—to align with IEA net-zero milestones. Such a transition would reduce per capita power sector emissions by 52-58% by 2035 and decrease reliance on volatile gas prices. The report emphasizes that Singapore's financial capacity allows it to lead regional grid investments, such as the LTMS-PIP and potential links to India and the UAE, to secure its energy future and accelerate Southeast Asia's clean energy transition.

Reclaim Finance criticizes ENGIE's Climate Plan for failing to align with a 1.5°C trajectory, citing continued gas expansion, reliance on unproven technologies like CCUS and hydrogen, and a net-zero target date of 2045 that lags behind IEA recommendations.

The report finds that there are enough projected tax credit-qualifying Energy Attribute Certificates (EACs) to meet the stated electrolytic hydrogen production goals across the seven Regional Clean Hydrogen Hubs. However, it identifies the lack of developed markets and data infrastructure for accessing these EACs as a critical challenge. The analysis suggests that while the physical availability of clean power is sufficient, the primary bottlenecks for the green hydrogen economy are traditional deployment issues such as siting, permitting, and interconnection.

The document analyzes Latin America's potential to transition to a 100% renewable electricity matrix by 2040, focusing on the role of strategic minerals and the development of regional value chains. It highlights the region's vast reserves of copper and lithium and its existing manufacturing capabilities in steel and aluminum as key competitive advantages. However, it identifies significant barriers, including insufficient geological knowledge, low refining capacity, weak industrial policies, and social conflicts related to mining and land rights. The brief recommends increasing public investment in R&D, strengthening regional cooperation through the G20 and RELAC, and implementing binding community participation to ensure a just energy transition.

The document evaluates how CEE countries have integrated public consultation and multilevel climate and energy dialogues (MCEDs) into their updated NECPs, finding significant variability in quality and frequent failures to meet European law requirements for early and inclusive engagement.

The report evaluates the Paris 2024 climate strategy, noting that while efforts in construction and food supply are robust, other sectors like transport and energy lack transparency and detailed methodology. It criticizes the evolution of public claims from 'carbon neutrality' to 'climate positive' as misleading and highlights a lack of transparency in carbon credit purchases. The authors argue that future games must downscale or decentralize to align with the 1.5°C goal and should avoid partnering with companies whose climate pathways are incompatible with the Paris Agreement.

The 2024 'Boom and Bust' report finds that while many countries are reducing coal capacity, global operational capacity grew by 2% in 2023 to 2,130 GW, driven largely by China. China's new coal construction reached an eight-year high, contradicting its 2021 pledge to strictly control new projects. Globally, only 15% of operational coal capacity is committed to retirement aligned with the 1.5°C goal. While construction outside China hit a nine-year low, new planning in India, Kazakhstan, and Indonesia remains a challenge, and captive coal plants are emerging as a persistent loophole.

The report finds that global coal capacity reached a record high in 2023, totaling 2,130 GW, driven largely by China. While new construction starts reached a nine-year low outside China, they hit an eight-year high within China. Only 15% of global operating coal capacity has retirement commitments aligned with the 1.5°C Paris Agreement goal. In Indonesia, the transition is hindered by the rapid growth of 'captive' coal plants for nickel smelting, a reduction in renewable energy targets, and a financial taxonomy that classifies captive coal as 'transition' activities.

The report finds that while many countries are reducing planned coal capacity, global operational capacity reached a record high in 2023, driven largely by China. It highlights a divergence between China's increasing construction and the decline in other regions. In South Korea, the report argues that current plans are insufficient to meet Paris Agreement goals and that continued reliance on coal, including ammonia co-firing, poses significant financial risks to the state utility and the national economy.

In 2023, global coal capacity reached a record 2130 GW, driven largely by China, despite a decline in new construction starts outside China. While 101 countries have committed to avoiding new coal, significant pre-construction pipelines remain in China and India. Central Asia is identified as a region moving against the global trend, with proposed coal capacity reaching 45% of its current operational capacity, led by Kazakhstan.

Global coal-fired power capacity reached a record 2,130 GW in 2023, driven largely by China, despite a general global trend toward reducing new coal construction. While the EU and UK are accelerating retirements, China's new construction capacity reached an eight-year high. Turkey continues to develop coal capacity, ranking eighth globally in capacity under development, despite significant local opposition and the cancellation of numerous projects.

The global operating coal fleet grew by 48.4 GW (2%) in 2023 to 2,130 GW, primarily driven by China. While many countries have reduced their coal pipelines or committed to 'No New Coal,' China saw an eight-year high in new construction starts. Outside China, new construction hit a record annual low. However, global operating capacity has grown 11% since 2015, and only 15% of current capacity has a retirement commitment aligned with the 1.5°C goal.

The document examines human capital as a component of comprehensive wealth in Ethiopia, Indonesia, and Trinidad and Tobago. It finds that while Indonesia and Ethiopia saw significant growth between 1995 and 2020, this progress stalled recently. Trinidad and Tobago experienced a severe decline after 2008, erasing previous gains. The authors argue that diversifying human capital away from dominant sectors—such as agriculture in Ethiopia and services in Indonesia—and investing in health, education, and data capacity are essential for long-term prosperity.

The document examines natural capital trends in Ethiopia, Indonesia, and Trinidad and Tobago from 1995 to 2020, finding a general decline or stagnation in per capita market natural capital following the 2008 financial crisis. It highlights extreme dependencies, such as Ethiopia's reliance on agricultural land and Trinidad and Tobago's vulnerability due to the collapse of fossil fuel asset values. Non-market natural capital, including forest area and land per capita, is declining across all three nations, exacerbated by population growth and climate change. The authors advocate for moving beyond GDP toward comprehensive wealth measures and recommend green development policies, increased financial mobilization for nature-based solutions, and improved environmental statistical capacity.

The report examines produced capital—human-made assets used in production—across Ethiopia, Indonesia, and Trinidad and Tobago from 1995 to 2020. It finds that while produced capital has grown, levels remain low compared to developed nations and are heavily concentrated in a few sectors, such as petroleum in Trinidad and Tobago and manufacturing and real estate in Ethiopia and Indonesia. This concentration creates economic risks and hinders the transition to renewable energy and sustainable agriculture. The authors argue that the lack of regular measurement of produced capital by national statistical offices leaves policy-makers blind to these structural challenges, underscoring the need to move beyond GDP toward comprehensive wealth metrics.

The document examines financial capital—defined as the difference between foreign financial assets and liabilities—across three countries. It finds that while Ethiopia and Trinidad and Tobago generally had positive financial capital, both saw a trend toward accumulating more liabilities in later years. Indonesia remained a net debtor throughout the study period. The brief argues that financial capital should complement GDP as a measure of well-being and suggests that well-managed liabilities, such as foreign direct investment, can boost other forms of capital like human and produced capital. It recommends diversifying financing sources, improving governance to optimize returns on capital, and reforming the international financial architecture to reduce public debt burdens in developing nations.