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Eleven civil society organizations, including Reclaim Finance, have called on Agirc-Arrco, ERAFP, and the Fonds de réserve pour les retraites to cease supporting fossil fuel expansion. The signatories argue that continued investments, particularly through bonds and external managers like BlackRock, exacerbate climate change and expose portfolios to financial risks. They specifically highlight TotalEnergies' recent climate setbacks, including the abandonment of its 2050 carbon neutrality goal in March 2026, as evidence that shareholder dialogue is insufficient. The letter demands an immediate end to new investments in oil and gas projects, systematic voting against directors of expanding fossil fuel companies, and the implementation of science-based climate criteria for selecting external asset managers.

Indonesia requires an estimated USD 24 billion to expand its transmission infrastructure by 47.76 thousand circuit kilometers between 2025 and 2034. Because the state-owned utility PLN cannot fund this alone, the report proposes shifting from corporate-level finance to project finance structures using special purpose vehicles (SPVs) and long-term revenue contracts. The evaluated models include leasing, joint ventures, public-private partnerships (PPPs), infrastructure investment trusts (InvITs), and collective investment schemes for infrastructure (CIS-DINFRA). Successful implementation depends on three policy enablers: a dedicated transmission fee, off-balance sheet treatment, and targeted fiscal support.

The research finds that investing in climate services for health (CSfH)—such as early warning systems and disease surveillance—yields economic returns between US$3.60 and $68.40 per dollar invested. Despite these high returns and modest funding requirements, such as an estimated $12–$18 million annually for a median-sized developing country, these tools remain underfunded and underused. Currently, only 23 percent of surveyed WMO Member States integrate meteorological data into health surveillance systems to manage risks from diseases like malaria, dengue, and heatstroke.

The US-Israel invasion of Iran in February 2026 has accelerated the global transition to clean energy as 23 countries announced new measures to reduce fossil fuel vulnerability. Clean energy ETFs have outperformed oil and gas ETFs in early May 2026, with renewable energy funds attracting over USD 3 billion in April 2026. Investor sentiment is shifting, with a rise in those ranking renewables top for one-year returns (14% vs 9% in 2025) and a decline in the perceived necessity of natural gas for the transition, particularly in Asia. While the cost of capital remains significantly higher in emerging markets (12.95%) compared to Europe (5.02%), geopolitical instability is prompting a reassessment of risk premiums in favor of domestic renewables.

The United States is well-positioned to lead the next-generation geothermal supply chain due to significant overlaps with the oil and gas industry, though gaps remain in superhot rock (SHR) compatible rigs and power conversion turbomachinery. While investment in the sector grew from $22 million in 2018 to $2.2 billion in 2025, the report warns that equipment supply chains could become a bottleneck for national-scale adoption. Developing a domestic supply chain could create over 100,000 jobs in wellfield and plant operations and catalyze manufacturing growth in regions like Louisiana, Texas, Oklahoma, Georgia, New York, North Carolina, and South Carolina. To secure this advantage, the report recommends expanding the 45X advanced manufacturing production tax credit to geothermal and improving data on equipment capacity and production costs.

The report argues that the expanded BRICS bloc is not a coherent actor but a collection of competing interests, where fossil-industrial interests often conflict with climate rhetoric. It categorizes members into five functional actor groups and proposes a five-axis 'Climate and Energy Compass' and a focus on climate finance reform to facilitate a just and sovereign energy transition.

The statement contends that EPA Administrator Lee Zeldin has overseen a period of significant deregulation and funding cuts that undermine public health and environmental protection. It highlights the removal of human life valuation from air pollution analyses, the cancellation of $22 billion in environmental justice grants, and a 90 percent budget cut to the Clean Water State Revolving Fund despite PFAS reduction being listed as a priority. The author asserts that these actions, alongside the dismantling of the Office of Research and Development and a 52 percent overall budget cut, prioritize industry interests over scientific integrity and community health.

The authors argue that the Paris Climate Agreement's 'name and shame' approach fails because it ignores the science of cooperative agreements on common resources. They propose a climate club where members commit to net-zero CO2 emissions by 2050, using a combination of high import tariffs and export taxes on non-members, a uniform tariff surcharge (up to 10%) on non-member imports, and penalties for members who miss intermediate goals. To ensure WTO compatibility, the proposal relies on GATT Articles XX(b) and XX(g), allowing any regulatory approach that achieves emissions reductions. The plan includes a Multilateral Fund for developing countries and suggests similar structures for methane and nitrous oxide, drawing inspiration from the Montreal Protocol.

The report details the economic importance of Paraguay's livestock sector, which contributes approximately 12% of the national GDP, while highlighting its role as a major emitter of methane. It identifies a significant gap in productivity, noting that 85% of producers are small-scale and only 22% use improved genetics with technical assistance. The document argues that increasing efficiency—through genetic improvement, reproductive technologies, and regenerative pasture management—can simultaneously reduce emission intensity and increase profitability. It references Paraguay's NDC 3.0 goal to reduce emissions by 20% by 2030, with a specific target of mitigating 2,570.3 kt CO2eq through Good Livestock Production Practices. The report concludes with recommendations for a multi-sectoral roadmap, the development of green financial products like Brazil's Eco-Invest, and the creation of a permanent inter-institutional working group to monitor climate goals.

The report finds that Romania's geothermal potential is largely untapped, contributing only 0.02% to the energy mix and primarily serving district heating and spas. It identifies significant structural barriers, including fragmented permitting, outdated subsurface data, and high early-stage financial risks. The document highlights the potential for the oil and gas industry to accelerate the market by repurposing abandoned wells, which could reduce drilling costs by up to 50%. It recommends streamlining licensing, shifting to energy-based taxation, and introducing risk-sharing mechanisms like drilling insurance to attract investment.

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 report outlines seven key recommendations for ensuring a just transition away from fossil fuels, focusing on institutionalising social dialogue, enhancing transition modelling, implementing worker-centred planning, and pursuing sequenced economic diversification. It emphasises the need for collaborative governance, justice-oriented finance, and the integration of just transition principles into multilateral processes like the Belém Roadmap.

The report assesses how Indonesia can move from corporate-level financing to project finance to meet a USD 24 billion investment requirement for transmission lines and substations. It analyzes five models: leasing, joint ventures (JVs), public-private partnerships (PPPs), infrastructure investment trusts (InvITs), and collective investment schemes for infrastructure (CIS-DINFRA). While leasing and JVs are easier to implement, InvITs and CIS-DINFRA offer the highest scalability and liquidity. The report emphasizes that success depends on three policy enablers: a dedicated transmission fee, off-balance sheet accounting treatment, and targeted fiscal support.

The report argues that public development banks (PDBs)—including national, regional, and multilateral institutions—are uniquely positioned to overcome structural and market barriers to climate risk insurance in EMDEs. It identifies key barriers such as data gaps, underdeveloped local capital bases, and fragmented regulatory frameworks. The document proposes a tiered approach where National Development Banks (NDBs) focus on local market development and project pipelines, Regional Development Banks (RDBs) coordinate risk pooling and shared data infrastructure, and Multilateral Development Banks (MDBs) provide catalytic capital and credit enhancement. Key recommendations include the use of targeted premium subsidies with sunset clauses, the bundling of insurance with loans, and the creation of regulatory sandboxes to foster innovation in parametric insurance.

The paper introduces the Climate Risk Assessment Framework (CRAF), a structured approach to quantify physical climate risks for India's power infrastructure. It addresses gaps in existing literature by moving from qualitative risk ratings to energy-denominated impact estimates, specifically Expected Annual Loss (EAL) and Energy Not Served (ENS). The methodology distinguishes between chronic stressors (causing performance derating) and acute events (causing sudden failure), providing a pathway for cost-benefit analysis of resilience investments to avoid stranded assets and unplanned retrofitting costs.

The document argues that the traditional carbon offsetting model is fundamentally flawed and misleading, urging companies to adopt Beyond Value Chain Mitigation (BVCM). Unlike offsetting, which claims to 'cancel out' emissions, BVCM involves supporting external climate projects as a contribution to global goals without claiming carbon neutrality. The guide outlines the legal and reputational risks of offsetting—including a September 2026 EU ban on product-level offsetting claims—and provides a five-step implementation framework for BVCM. It suggests diversifying contributions beyond carbon credits into durable carbon removals (CDR), 'high-hanging fruit' technology research, and climate impact funds, while emphasizing that external action must not replace internal decarbonization aligned with a 1.5°C trajectory.

Carbon Market Watch proposes that the EU replace 'net' climate targets with three distinct targets for emissions reductions, land-based sequestration, and permanent carbon dioxide removals (CDR). The guide argues that current EU governance is inadequate, noting that the Carbon Removal and Carbon Farming (CRCF) Regulation lacks rigour and the Net-Zero Industry Act's goal of 50 Mt of geological CO2 storage does not specify the volume for permanent removals. To implement this, the author suggests integrating permanent removal targets into the Effort Sharing Regulation and strengthening the Governance Regulation to require credible feasibility and sustainability assessments by March 2027. Proposed target designs include a 'floor' for minimum delivery and a 'ceiling' to prevent over-reliance on CDR, with targets expressed in absolute volume (MtCO2) and as a percentage of 1990 gross emissions. Financing should be shared between the public sector and high-polluting companies through progressive taxation or direct removal obligations.

The report argues that the proposed Turkish ETS is fundamentally weak due to its reliance on an intensity-based cap, broad unconditional free allocation, and the use of offsets. These design choices are expected to prevent the system from generating a meaningful carbon price signal, thereby failing to drive emissions reductions aligned with the Paris Agreement and leaving Turkish exporters exposed to significant CBAM fees. The authors recommend transitioning to an absolute declining cap, phasing out offsets, and shifting toward auctioning to retain climate revenues domestically.

The report asserts that capital markets are essential for African economies to finance climate adaptation, infrastructure, and demographic shifts amidst declining foreign aid and FDI. It argues that while public equity markets have limited utility for smaller or frontier markets due to high costs and information asymmetries, corporate bond markets and hybrid structures—combining public disclosure with private flexibility—offer more practical pathways. The author emphasizes that macroeconomic stability and pension reforms are foundational to increasing the domestic savings base. The document recommends using guarantees, pooled investment vehicles, and project preparation platforms to increase institutional investor confidence and develop bankable projects in infrastructure, housing, and MSMEs.

In 2025, global coal capacity grew by 3.5% while generation fell by 0.6%, as new plants in China and India are increasingly used as system insurance rather than primary generation. While the number of countries proposing new coal plants decreased to 32, political interventions in the US and EU delayed planned retirements. Latin America and the Caribbean achieved a status of 'No New Coal Plants' in 2025, though several countries, including Brazil and Chile, experienced setbacks in their decommissioning schedules.