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Global operating coal capacity increased by 48.4 GW in 2023, reaching a total of 2,130 GW, primarily driven by a surge of new plants in China. While construction starts hit record lows outside of China, China's new construction starts reached an eight-year high of 70.2 GW. Despite a growing number of countries committing to 'No New Coal', 75% of global operating coal capacity still lacks a specific closure commitment, hindering alignment with the Paris Agreement goals.

The authors argue that Canada requires $140 billion in annual investment to reach net zero, but attracting this private capital requires greater policy certainty. They propose three specific measures: establishing a green and transition taxonomy, providing confidence in the industrial carbon price through carbon contracts for difference, and developing a clean electricity grid as envisioned by the Clean Electricity Regulations to remain competitive against other jurisdictions and avoid carbon-related border adjustments.

The analysis indicates that India's current transport trajectory is not aligned with a Paris-aligned just transition. While baseline and least-cost pathways fail to meet decarbonisation goals, transition pathways focusing on shifting demand to public modes, specifically electrified rail, show promise for reducing emissions and costs. Achieving net-zero targets between 2050 and 2070 would require annual public investments of approximately USD 164 billion (2020 USD) from 2023 to 2030, primarily for electrified rail and bus infrastructure. Such a transition is projected to foster economic growth, create jobs in the electric vehicle industry, and reduce reliance on crude oil imports.

Reclaim Finance has called on Lloyd's of London managing agents to stop providing stamp capacity for new thermal and metallurgical coal mines, thermal power stations, oil and gas fields, and LNG terminals by January 1, 2025. The organization argues that current commitments are "insufficient" and that continued support for fossil fuel expansion contradicts the International Energy Agency's (IEA) Net Zero Emissions Scenario, which requires a halt to new fossil fuel developments and a ten-fold increase in energy transition investments relative to fossil fuel spending by 2030.

Reclaim Finance criticizes a statement released by the SBTi Board of Trustees on April 9, 2024, which suggested extending the use of environmental attribute certificates for Scope 3 emissions abatement. The organization asserts that this move contradicts existing SBTi policy, which limits carbon credits to long-term net-zero targets for residual emissions (up to 10%), and was made without consulting the Technical Advisory Group (TAG) or Scientific Advisory Group (SAG). Reclaim Finance warns that this decision threatens the scientific integrity of science-based targets and could facilitate greenwashing.

The report details a decade of significant growth in U.S. solar and wind power, noting that solar generation increased more than eight-fold and wind more than doubled between 2014 and 2023. It highlights the leading roles of states like California and Texas, the emergence of small-scale solar, and the potential for these technologies to drive the U.S. toward its 2035 goal of 100% carbon pollution-free electricity, although current projections suggest the 2030 emissions target may be missed.

The briefing reorganizes the 10 elements and 44 negotiation options identified by the Co-Chairs of the Ad-Hoc Work Programme (AHWP) for the New Collective Quantified Goal (NCQG) into a condensed format. It covers critical dimensions of the goal, including temporal scope, quantum, structure, and potential sources of finance, aiming to streamline the complex set of options for stakeholders ahead of the 2024 negotiation sessions.

The Green Bond Dataset (GBD) methodology establishes a science-based framework for screening self-labelled green debt instruments. To be included in the 'Aligned' list, a debt instrument must be self-labelled, have adequate public disclosure, and allocate 100% of net proceeds to green assets, with at least 90% meeting specific eligibility criteria. The methodology employs a three-step screening process: identification and pre-requisite checks, screening of green credentials against sector-specific definitions, and evaluation of the use of proceeds (UoP) threshold. Absolute exclusions apply to fossil fuel exploration, production, refining, and fossil fuel-based heat, cool, and electricity generation, regardless of the percentage of proceeds. The GBD allows for a 'margin of flexibility' of up to 10% for assets where alignment is uncertain or metrics are unavailable, and utilizes a two-year lookback period for complex expenditure assessments. While external reviews are recommended, they are not mandatory for GBD inclusion if equivalent information is disclosed. The document also distinguishes the GBD from the Climate Bonds Standard Certification scheme, noting that GBD inclusion is based on post-issuance screening of public data, whereas Certification is a voluntary pre-issuance application process.

The report identifies a critical need to accelerate building renovations in Europe, noting that approximately 97% of the region's building stock requires upgrades to meet 2050 net-zero targets. It argues that while the EU's 'Fit for 55' package and the Energy Performance of Buildings Directive (EPBD) provide a foundation, additional policy interventions are needed to unlock private capital and overcome financial and non-financial barriers. The document details 20 specific policy levers, including the implementation of Minimum Energy Performance Standards (MEPS), the phasing out of fossil-fuel subsidies by 2040, and the adoption of 'Building Renovation Passports'. It emphasizes the role of green bonds and mortgages, suggesting a voluntary EU-wide definition for green mortgages to improve data collection and risk management. The report also advocates for the electrification of heating via heat pumps over hydrogen blending and highlights the importance of addressing 'Whole Life Carbon' (WLC) in construction.

The paper analyzes the financing gap in India's iron and steel sector, which is the country's largest industrial GHG emitter. It highlights a risk of carbon lock-in as 196 MTPA of fossil-based capacity is planned for 2021-2038. The authors propose a five-pillar framework—sectoral policies, enabling ecosystems, bankable business models, financing/derisking mechanisms, and financial sector regulations—to transition from fossil-intensive production to low-carbon technologies like green hydrogen-DRI. It details specific instruments such as Carbon Contracts for Difference (CCfD), blended debt funds, and Article 6 of the Paris Agreement to bridge the investment gap.

The Corporate Climate Responsibility Monitor 2024 finds that the median absolute emissions reduction commitment for 51 assessed companies is only 30% by 2030, falling short of the 43%-48% reduction required by the IPCC. The report criticizes the heavy reliance on 'questionable solutions' such as carbon offsets, insetting, and Renewable Energy Certificates (RECs) to mask a lack of genuine decarbonization. It specifically highlights a 'Scope 3 loophole' in the VCMI framework that could allow companies to use credits for up to 50% of their annual Scope 3 emissions. The document advocates for 'beyond value chain mitigation' (BVCM) and calls for the European Union to ban all compensation claims and for the Science Based Targets initiative (SBTi) to prohibit the use of carbon credits to meet targets.

The report claims that TotalEnergies is not transitioning to clean energy, instead planning to increase oil and gas production by 2-3% per year by 2028. It highlights that the global bond market is a critical funding source, providing 68% of the company's financing between 2016 and 2022. The document asserts that banks and investors use bonds to indirectly support projects like EACOP and Mozambique LNG while avoiding direct loan risks, and calls for an immediate end to the issuance of new bonds to align with 1.5°C warming limits.

The document identifies a short-term opportunity for African gas producers to fill global supply gaps caused by the war in Ukraine, but warns that new infrastructure investments face a high risk of becoming stranded assets as the world moves toward net-zero.

France has integrated climate considerations into its annual budgetary process through a 'Green Budget' published in 2021, which rates all State expenditures on their environmental impact. This system uses a five-category scale and six environmental goals to ensure government agencies consider net-zero progress in their spending. A notable application was the 2021 COVID-19 recovery plan, which mandated that 30% of its funds be allocated to favorably rated green investments.

Costa Rica's 2019 National Decarbonization Plan established a midcentury net-zero target covering all greenhouse gases and sectors, except international shipping and aviation. The plan utilized a backcasting approach divided into three phases: foundations (2018–22), inflection (2023–30), and massive deployment (2031–50). This robust framework attracted nearly $1 billion in funding from the International Monetary Fund and Inter-American Development Bank, which incentivized the administration of President Rodrigo Chaves to maintain climate objectives despite a campaign focused on changing course from the previous government. Current priorities include the operationalization of 1,000 electric buses and agricultural emissions reduction, with a strategic shift toward attracting large-scale finance for specific sectors.

The document describes how South Africa's Presidential Climate Commission (PCC), situated within the Presidency, facilitates a just transition through a multi-stakeholder approach involving government, business, labor, civil society, and traditional leadership. It highlights the development of the Just Transition Framework, adopted by the Cabinet in August 2022, which was created through extensive evidence gathering, public workshops, community consultations, and expert essays to ensure the process was inclusive and tailored to those most impacted by the shift from fossil fuel-based economies.

The Electrical Utilities Criteria establish requirements for the certification of electrical utilities and their debt instruments, focusing on a transition to net-zero emissions by 2050. The framework employs an entity-level approach to assess the decarbonisation of the entire electricity value chain, including generation, transmission, and distribution. Certification requires entities to meet a global emission intensity pathway and adhere to specific fossil fuel phase-out benchmarks, which vary between advanced and emerging economies. The criteria prohibit new investments in fossil fuel power generation and mandate a total phase-out of fossil fuel generation by 2040 at the latest. To support grid security, the criteria allow the replacement of coal with fossil gas under strict conditions, provided the entity maintains its emission intensity pathway and has a phase-out plan. Eligible mitigation measures for Use-of-Proceeds (UoP) bonds include retrofitting plants with carbon capture and storage (CCS), carbon capture utilisation and storage (CCUS), or cofiring with low-carbon synthetic fuels and biomass. Certification is available in two tiers: 'align' for those meeting the pathway at the time of certification, and 'transition' for those meeting it by the end of 2030.

The Electrical Utilities Criteria provide a framework for certifying entities and debt instruments based on their emission intensity and transition pathways. It defines specific thresholds for existing and new capacity across various technologies, including fossil fuels and renewables, while integrating cross-cutting requirements for carbon capture, hydrogen, and bioenergy. The criteria also mandate adaptation and resilience risk assessments to ensure long-term operational viability under climate change.

The document defines the technical requirements for electrical utilities to achieve certification, focusing on a transition pathway to net-zero emissions by 2040. It sets specific greenhouse gas (GHG) emission intensity thresholds (gCO2/kWh) for existing and new capacity, mandates the phase-out of unabated fossil fuel plants, and provides guidelines for low-carbon technologies such as CCS/CCUS, hydrogen co-firing, and bioenergy. It also includes requirements for climate adaptation and resilience risk assessments.

The report reveals that 70% of analyzed 'sustainable' passive funds from five major asset managers are exposed to fossil fuel expansion, highlighting a critical 'blindspot' in climate policies. It argues that passive investing is not a neutral process but a series of active management choices, and calls for regulators to forbid the sale of funds with misleading sustainability claims that support fossil fuel developers.