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The report finds that Canada is highly exposed to economic risks due to overinvestment in oil and gas relative to the global energy transition. Using IEA demand scenarios, it estimates that between 5% (Stated Policies Scenario) and 66% (Net Zero Emissions scenario) of projected capital investment from 2025 to 2040 could be stranded. The analysis indicates that Canadian oil is among the world's most expensive to produce, making it particularly vulnerable to price drops. The report argues that restricting the development of new fields and engaging in international diplomacy to reduce global supply could protect the industry's overall value and increase government revenues by preventing oversupply and price deflation. It also notes that U.S. tariffs on energy imports would likely amplify these risks by making Canadian production less competitive.

The report finds that global banks significantly increased fossil fuel financing in 2024, totaling $869 billion, with $429 billion specifically directed toward fossil fuel expansion. This trend persists despite climate pledges and the Paris Agreement goals. The analysis highlights a retreat from voluntary climate commitments, such as the collapse of the Net Zero Banking Alliance, and identifies major financiers including JPMorgan Chase, Bank of America, and Citigroup. It also documents the human rights and environmental harms caused by these investments in regions such as the Amazon, the Arctic, and Southeast Asia.

The document outlines the work of the Global Solidarity Levy Task Force (GSLTF) in developing 16 tax options targeting undertaxed, high-emission sectors to bridge the trillion-dollar financing gap for Sustainable Development Goals (SDGs) and the Paris Agreement. It highlights the potential for these levies to generate over $500 billion in annual revenue and calls for developing countries to engage in the design and assessment of these mechanisms to ensure equitable access to funds. The brief details the GSLTF's efforts to build political momentum through international forums and its submission to the Baku to Belém Roadmap to support the New Collective Quantified Goal on Climate Finance.

Belize's NDC 3.0 sets a target to avoid cumulative greenhouse gas emissions of 6,234 kTonCO2e by 2035 compared to a business-as-usual scenario. The plan focuses on scaling renewable energy, enhancing carbon sequestration in the AFOLU sector, and improving climate resilience across coastal, health, and infrastructure sectors. Implementation is heavily dependent on international climate finance, with an estimated total cost of 1.55 billion USD and a funding gap of 85%.

The We Mean Business Coalition's 'Business Call for Accountability' urges large multi-national companies and trade groups to adopt higher standards of transparency when engaging with the UNFCCC and COP processes. The call specifically asks companies to report annually on their climate advocacy activities and for trade groups to publicly disclose their climate and energy-related policy positions. This initiative aims to distinguish companies supporting the Paris Agreement from those hindering it, while counteracting negative lobbying from fossil fuel interests.

The document argues that NDC credibility depends on target clarity, institutional capacity, policy adoption, and policy outcomes. It explains how Biennial Transparency Reports (BTRs) provide the necessary data to assess these components and help countries refine future NDCs. For example, Andorra improved its 2035 NDC credibility by switching from a business-as-usual scenario to an absolute emission reduction goal to increase transparency.

The document argues that the global trade, finance, and investment ecosystem—comprising approximately 200 organisations including the WTO, Bretton Woods institutions, and multilateral development banks—requires greater institutional coherence to address massive funding gaps. It highlights that aligning policies across these stakeholders is essential for smoother capital flows and sustainable economic growth in line with the UN Sustainable Development Goals.

The IMO's new Net-Zero Framework is criticized as a 'defeat for the climate' because it replaces a universal carbon levy with a hybrid fuel standard and weak carbon pricing. The author contends that the scheme will only reduce emissions by about 10% by 2030—half of the IMO's own base target—and will generate insufficient revenue ($11-12 billion annually) to support the transition to zero-emission fuels, which requires $12-24 billion per year.

A group of 16 children from various nations filed a communication to the Committee on the Rights of the Child, alleging that Argentina, Brazil, France, Germany, and Turkey violated the UN Convention on the Rights of the Child (UNCRC) by failing to prevent and mitigate climate change. While the Committee recognised the 'extraterritorial application of human rights obligations' and the 'victim status of the authors', it ultimately deemed the claim inadmissible. The decision rested on the 'failure to exhaust domestic remedies', as the claimants had not initiated internal legal procedures in the defendant states before approaching the Committee.

The case of Fridays for Future Estonia v. Eesti Energia involved a legal battle led by the NGO MTÜ Loodusvõlu to stop the construction of the ENEFIT282 shale oil plant in Narva-Jõesuu. The claimants argued that the plant violated the Paris Agreement, EU climate neutrality goals, and the UN Sustainable Development Goals, while also posing risks to Natura 2000 conservation areas. After several rounds of litigation and rejected requests for interim relief, the Supreme Court of Estonia cancelled the construction permit in October 2023. The Court found that the project's environmental assessments failed to identify impacts on climate change and the conservation of the Puhatu bird, necessitating the cancellation under the precautionary principle.

The document examines the fragmented nature of the global trade, finance, and investment ecosystem, which comprises approximately 200 organisations. It argues that institutions often operate in silos, leading to contradictory policies and a significant trade finance gap, particularly affecting African SMEs. The author advocates for G20-led reforms to align global governance with the UN Sustainable Development Goals (SDGs) and regional priorities like the AfCFTA. Key recommendations include the establishment of a G20–Africa Trade Guarantee Fund and the creation of a knowledge and coordination platform to enhance transparency and technical assistance.

Carbon Market Watch argues that the draft Baseline standard for Article 6.4 mechanism methodologies fails to quantitatively demonstrate alignment with the Paris Agreement's long-term temperature goals. The organization criticizes the proposed 1% annual downward adjustment as insufficient to raise ambition over time and suggests adopting a 'Paris Goal Coefficient' to link baseline emissions directly to net-zero target dates. Additionally, it recommends that Best Available Technology (BAT) be revised at least every five years and that legally binding national or sub-national targets be incorporated into Business-As-Usual (BAU) scenarios regardless of the perceived sufficiency of implementation frameworks.

The document defines 'loss and damage' as climate change consequences that exceed human adaptation limits, categorizing them into economic losses (e.g., infrastructure damage) and non-economic losses (e.g., cultural loss). It details the evolution of UN negotiations, from the 1991 proposal by Vanuatu to the 2023 operationalization of the Fund for Responding to Loss and Damage (FRLD), which had pledges totaling $768.4 million as of April 2025. The text emphasizes that this funding is far below the estimated $580 billion needed by vulnerable countries by 2030 and argues for a 'mosaic of solutions' combining public, private, and innovative funding sources to support activities such as humanitarian aid, relocation, and livelihood restoration.

The briefing argues that the Asian Development Bank's (ADB) technical assistance (TA), while a small part of overall financial commitments, exerts significant strategic influence over policy and project design. The authors contend that TA can act as a form of indirect funding for fossil gas and call for the ADB to align its energy policy with a total fossil gas phase-out, improve transparency, and ensure environmental and social risk disclosure for all TA.

The briefing argues that the Asian Development Bank (ADB) uses technical assistance (TA) as a form of indirect funding that prolongs reliance on fossil gas. While TA is a small portion of overall financial commitments, it significantly influences policy directions and project design. The authors call for the ADB to align its energy policy with the Paris Agreement's 1.5°C goal by phasing out fossil gas support and implementing stricter risk disclosure, transparency, and accountability mechanisms for TA.

The briefing contends that the Asian Development Bank (ADB) uses technical assistance (TA) to enable fossil gas infrastructure and planning, despite pledges to align with the Paris Agreement. It highlights how vague terms like 'low-carbon' and 'transition infrastructure' allow the ADB to support gas-related projects in countries such as Pakistan and Indonesia. The document notes that TA for energy projects in 2024 lacked fuel specifications in 45.9% of cases, hindering transparency. It further argues that these projects often ignore gender impacts and risk creating stranded assets. The author recommends that the ADB explicitly exclude fossil gas from its 'clean energy' definitions and phase out all direct and indirect support for midstream and downstream gas infrastructure.

In 2024, global coal power capacity increased by 18.8 GW, as 44.1 GW was commissioned and 25.2 GW retired. While the EU27 saw a fourfold increase in retirements and the UK completed its coal phaseout, global progress was offset by significant expansion in China and India. China commissioned 30.5 GW (70% of the global total) and saw 94.5 GW in new construction starts. India recorded its highest-ever level of new coal proposals at 38.4 GW. Conversely, coal proposals in OECD countries dropped from 142 in 2015 to five today, though retirements in these nations must triple to align with the Paris Agreement.

Latin American civil society organizations have written to UNFCCC Executive Secretary Simon Stiell expressing concern that the first 2025 Climate Week, scheduled for May 19-23 in Panama City, lacks a regional focus and restricts the participation of non-State stakeholders. While praising the event's focus on ambition and implementation, the signatories argue that the current set of mandated events is not open enough to civil society, research organizations, and the private sector. They emphasize the importance of regional momentum and the role of the Escazu Agreement in fostering environmental activism in the region.

The author contends that the U.S. administration's decision to exit the Paris Climate Agreement and end international climate finance creates significant risks for the United States. These include the loss of diplomatic soft power, the forfeiture of economic opportunities in a clean energy market projected to exceed $2 trillion by 2035, and the creation of a power vacuum likely to be filled by China or other actors like Saudi Arabia and the UAE. The text asserts that maintaining a leadership role is essential for U.S. companies to ensure market transparency and harmonization abroad, and warns that domestic policy rollbacks further undermine American innovation and long-term energy competitiveness.

The Net Zero Banking Alliance (NZBA) has voted to replace mandatory requirements for reducing client emissions with 'best practice' advice and has removed the obligation for banks to align with the 1.5°C warming limit and 2050 carbon neutrality goal. The new guidelines allow banks to align with a 'warming well below 2°C, aiming for 1.5°C' and let them choose their own target year for carbon neutrality. Reclaim Finance argues this shift ignores current climate science and suggests banks are now following existing economic emission trends rather than actively modifying them to accelerate the transition.