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The report details how Shell and TotalEnergies integrate themselves across the VCM value chain—from project development and trading to influencing governance—to maintain fossil fuel production while claiming progress toward net-zero. It highlights systemic issues with the integrity of the credits they use, specifically in forestry and cookstove projects, and notes that neither company has a decarbonisation plan aligned with the Paris Agreement.

Reclaim Finance criticizes the Council of the European Union for proposing that "transition" funds under the SFDR be available to oil and gas companies, provided they meet a 20% EU Taxonomy capex threshold and set Scope 1 and 2 targets. The author contends this position, influenced by lobbying from entities like TotalEnergies and the French government, ignores Scope 3 emissions and allows continued fossil fuel expansion. The document calls on the European Parliament to exclude companies developing new oil and gas projects from such funds to ensure the credibility of sustainable finance.

Reclaim Finance criticizes the EU Council's June 2026 position on the SFDR, which would allow fossil fuel developers to access "transition" funds based on a 20% capex alignment with the EU taxonomy and scope 1 and 2 decarbonization targets. The author contends this approach, influenced by oil and gas lobbying—specifically TotalEnergies and the French government—ignores scope 3 emissions and risks legitimizing greenwashing. The document calls on the European Parliament to exclude companies developing new oil and gas projects from such funds during its September 2026 deliberations.

The document reports that non-fossil sources reached a record 46.2% of the global electricity mix in April, with wind and solar accounting for 21.3%. It discusses how the instability of the Strait of Hormuz has exposed the fragility of fossil fuel supply chains, prompting countries like China, Poland, and the Philippines to accelerate electrification and renewable energy adoption. Despite this, global fossil fuel subsidies are expected to exceed USD 1 trillion this year, and major energy firms like Shell and BP are pivoting back toward traditional oil and gas models. The text also notes the climate risks evidenced by record heatwaves in Europe and record global carbon emissions in 2025.

ClientEarth argues that CSDDD guidelines must explicitly include greenhouse gas emissions under 'harmful emissions' and adopt a risk-based approach to environmental due diligence. The submission recommends a strict hierarchy for remediation—prioritising prevention and restoration over offsetting—and suggests the creation of industry-funded remediation funds to address complex value chain harms.

The report finds that Equinor's historical and planned production significantly exceed science-based carbon budgets. Since 1972, Equinor's assets have caused 8.66 GtCO2 in emissions, with the majority originating from Norway. The analysis argues that Equinor's current global portfolio and future expansion plans are incompatible with a 1.5°C pathway, overshooting the IEA NZE benchmark by 0.93 GtCO2 between 2024 and 2050. It further critiques Equinor's 'Bridges' scenario for relying on outdated carbon budget data and unproven carbon removal technologies.

The report finds that military climate strategies across 26 nations are largely unambitious, with most emissions uncovered by targets and progress relying on civilian grid decarbonisation or reduced activity rather than military technological innovation. While some success was seen in stationary base emissions in neutral countries like Ireland and Switzerland, core mobile emissions and supply-chain emissions remain largely unaddressed and are likely to rise due to increased global military spending.

Netflix is implementing a three-step 'optimize, electrify and decarbonize' strategy to reduce the environmental impact of its productions, which account for over half of its Scope 1 and 2 emissions. The company is upgrading facilities like Longcross Studios in the U.K. with energy-efficient insulation, LED lighting, and renewable electricity, while replacing diesel generators on location with grid tie-ins, batteries, and hydrogen power units. These efforts, combined with the use of solar-powered trailers and electric vehicles, have led to significant fuel reductions in specific productions, such as The Witcher and The Boroughs, and serve as pilots for wider industry adoption of clean mobile power.

The NewClimate Institute reviews the SBTi Corporate Net-Zero Standard v2.0, noting that while it provides a mature framework for value chain emissions and short-term action, its high flexibility may hinder the comparability of corporate climate strategies and fail to sufficiently reward the most ambitious leadership.

The Gitanyow people developed the Wilp Sustainability Assessment Process (WSAP) and a corresponding climate test to exercise sovereignty and protect their territory from the shortcomings of colonial environmental impact assessments. Refined in 2023, the climate test uses 13 specific criteria and a scoring grid to assess project performance, including carbon pollution and alignment with the Paris Agreement. The process has been applied to three projects, including the Eskay Creek mine and the Ksi Lisims LNG project, demonstrating a shift toward Indigenous-led impact assessments and legal pluralism in Canada.

The Gitanyow people of British Columbia developed the Wilp Sustainability Assessment Process (WSAP) and a specific Climate Test to evaluate the climate impacts of major projects on their territory. This Indigenous-led impact assessment (ILIA) emerged from dissatisfaction with colonial processes, which the Gitanyow argue often use a "scale trick" to minimize emissions impacts and ignore Indigenous interests. The revised Climate Test, finalized in 2023, employs 13 criteria and a scoring rubric to inform decision-making. It has been applied to three projects, including the Eskay Creek mine, which received mostly "good" and "fair" scores, and the Ksi Lisims LNG project, which received predominantly "poor" scores. The process exemplifies legal pluralism in Canada, where Indigenous laws operate alongside provincial and federal legal orders to advance reconciliation and environmental stewardship.

The report examines the potential of the EU's CSRD and CSDDD to drive methane emission reductions in the meat and dairy industries. While the CSRD mandates transparency and disclosure of greenhouse gas data, the CSDDD requires companies to act on adverse environmental and health impacts. The document highlights that despite 'simplification' via the Omnibus I process—which reduced the number of companies in scope and removed specific climate transition plan requirements from the CSDDD—these directives still provide levers to address methane as a precursor to ground-level ozone. It argues that mandatory reporting and due diligence can prevent companies from relying on 'end of pipe' solutions like biogas and instead push for upstream mitigation.

The 17th edition of the Banking on Climate Chaos report finds that the world's largest banks committed $906 billion to fossil fuel companies in 2025, an 8% increase from 2024. Financing for fossil fuel expansion rose by over 27% to $508 billion. The report highlights a high concentration of finance, with a 'Dirty Dozen' of banks providing nearly 39% of global fossil deals. It also notes a trend of policy backsliding, where banks are weakening climate commitments and abandoning net-zero targets, particularly in the US. The report argues that this financing amplifies energy instability and inequality, especially during geopolitical crises like the 2026 US-Israel war on Iran.

WWF advocates for the Greenhouse Gas Protocol (GHGP), Science Based Targets initiative (SBTi), and ISO to refine their standards to incentivize continued corporate action even when companies struggle to meet targets, particularly regarding scope 3 emissions. Using McDonald's as an example of transparency, WWF suggests that companies should be honest about shortfalls while recommitting to long-term net-zero goals and investing in supply chain resilience.

The chemicals sector contributes approximately 5% of global greenhouse gas emissions, with production projected to grow up to 43% by 2050. While low-emission technologies exist, their scale-up is hindered by high capital intensity, long investment horizons, and complex value chains where intermediaries have little incentive to pay premiums for green inputs. To address this, the Center for Green Market Activation (GMA) and RMI are promoting demand aggregation and 'book and claim' systems using Environmental Attribute Certificates (EACs). These mechanisms allow downstream brands to pay for emissions reductions directly to upstream producers, bypassing value chain intermediaries and geographic constraints. GMA and RMI have launched a Low-Emissions Chemicals Initiative focusing on low-emissions ethylene to provide the demand certainty required for capital-intensive projects.

The report finds a significant gap in methane action within the dairy and coffee sectors, with only three companies setting 2030 reduction targets and 15 failing to disclose emissions for 2024 or 2025. While members of the Dairy Methane Action Alliance (DMAA) generally outperform non-members, performance varies widely, and dairy co-operatives are noted as lagging. Danone is highlighted as a leader, having achieved a 29.8% reduction in methane emissions from fresh milk and dairy products by 2025. The report also notes that major global supermarkets are currently failing to disclose methane emissions or set targets, and warns that upcoming EU regulations like the CSRD and CSDDD will make such disclosures a legal obligation.

The document provides a technical annex detailing how the International Institute for Sustainable Development (IISD) calculated the energy, economic, and emissions profiles of nine major Indian state-owned enterprises for FY 2024–25. It specifies the PSUs covered—including Coal India Limited, NTPC, and ONGC—and explains the methodology for estimating Scope 3 emissions, energy flows, and progress toward net-zero and renewable energy targets.

The report finds a 'leadership vacuum' in the global food retail sector regarding methane emissions. Despite the critical role of methane in short-term global warming, none of the 20 largest retailers assessed publicly reported their methane emissions or set specific targets to reduce them. While European retailers generally outperform US retailers in acknowledging the climate impact of livestock, the overall sector shows a lack of transparency and ambition. The report recommends that retailers set science-based methane reduction targets of at least 30% by 2030 and shift their product portfolios toward a 60/40 plant-to-animal protein sales split.

Analysis of the Global Oil and Gas Extraction Tracker (GOGET) reveals that oil and gas fields now take significantly longer to come online than in the 1960–1980 period, with 2025 startups averaging 15.1 years. This increase is driven by the depletion of easily accessible fields, forcing companies to target technically challenging 'hard-to-recover' reserves, such as ultra-high pressure '20K technology' fields in the U.S. Gulf of Mexico and remote Arctic projects in Russia. Additional delays stem from reservoir compositions (e.g., sour gas), ecological risks in protected areas, and more stringent environmental regulations, such as the UK's 2025 guidance on scope three emissions. The report argues that these long lead times increase the risk of creating stranded assets and locking in production that contradicts global climate targets to limit warming to 1.5°C.

The document argues that states must update their laws and regulations to ensure that environmental impact assessments (EIAs) include downstream and Scope 3 emissions from fossil fuel projects. It provides specific recommendations to prevent industry loopholes, such as presuming all produced fuels will be burned and ignoring arguments that production would simply shift to other projects. This guidance follows an International Court of Justice (ICJ) advisory opinion and aligns with rulings from the UK Supreme Court and the EFTA Court.