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FfD4 Countdown: A Watered-Down Proposal on Tax Expenditures Risks Undermining Countries’ Domestic Revenue Mobilization
The International Institute for Sustainable Development warns that a weakened proposal in the FfD4 Outcome Document regarding the oversight of tax expenditures risks undermining domestic resource mobilization. The author advocates for the reinstatement of commitments to minimum reporting standards—defined by regularity, transparency, and specificity—to help governments identify and reform ineffective or harmful tax incentives. To support this, the document proposes the creation of a Coalition on Tax Expenditures comprising think tanks and academic institutions to provide technical support and research to low- and middle-income countries.
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Document type: Statement
Public Letter to University of California Chief Investment Officer and Vice President of Investments
The Private Equity Stakeholder Project argues against the University of California (UC) potentially reversing its 2020 decision to divest from fossil fuels. The letter asserts that fossil fuel investments are financially risky, citing the underperformance of fossil-fuel-heavy portfolios and the volatility of the LNG market. It further highlights the material threats of climate change to California, including astronomical wildfire costs, and warns that demand forecasts for data center power may be overstated, potentially misleading investors.
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Document type: Statement
L’art de noyer le poisson : notre réponse à la Caisse des Dépôts
Reclaim Finance disputes the Caisse des Dépôts et Consignations' (CDC) justifications for its lack of transparency and argues that the CDC's shareholder engagement strategy is insufficient to stop investment in fossil fuel expansion. The document highlights a conflict between the CDC's secrecy and recommendations from the Cour des Comptes, while clarifying discrepancies in the reporting of fossil fuel exposure figures.
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Document type: Statement
NZBA takes a great leap backward
The Net Zero Banking Alliance (NZBA) has voted to convert mandatory requirements for reducing client emissions into "best practice" guidance, removing the requirement for banks to set targets aligned with the 1.5°C warming limit and the 2050 net zero goal.
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Document type: Statement
National Adaptation Plan on Water Resources (NAP WR) in Paraguay
The proposal seeks USD 1,499,987 to address climate vulnerabilities in Paraguay's water sector, which is ranked as the second most vulnerable sector nationally. The project aims to create a comprehensive National Adaptation Plan on Water Resources (NAP WR) by overcoming five key barriers: insufficient integration of climate considerations, limited institutional coordination, poor stakeholder engagement, lack of standardized water data, and limited climate resilience investments. Key activities include developing a governance framework, conducting vulnerability studies in two selected watersheds, creating a monitoring and evaluation (M&E) system, and formulating a long-term financing strategy involving the private sector. The project will be implemented by the Food and Agriculture Organization of the United Nations (FAO) over 24 months, with a strong focus on gender equality and the inclusion of Indigenous Peoples.
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Document type: Report
Réponse au rapport de Reclaim Finance sur l’action climatique de la Caisse des Dépôts
The Caisse des Dépôts rejects Reclaim Finance's criticisms, asserting that its investment approach balances ecological transformation with national sovereignty. It highlights a commitment to mobilize 100 billion euros for ecological and energy transformation between 2024 and 2028, while defending its decision to keep specific holdings confidential to maintain constructive shareholder dialogue. The institution disputes Reclaim Finance's estimate of its fossil fuel exposure, stating its actual exposure is below 5 billion euros and that it applies strict exclusion criteria for unconventional fossils and coal.
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Document type: Statement
COP30Factsheet
The 2025 UN Climate Change Conference, including COP30, CMA7, CMP20, SBI63, and SBSTA63, will take place from November 10 to 21, 2025, in Belém, Brasil. The event is presided over by André Corrêa do Lago and features a thematic program covering adaptation, health, climate justice, nature, agriculture, energy, and transport. The venue is divided into a UNFCCC-managed 'Blue Zone' for negotiations and a host-country-managed 'Green Zone' for public engagement, with a dedicated youth-led space in the Blue Zone. Logistics include a 24-hour system of 15 bus lines for transportation and accommodation managed via bnetwork.
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Document type: Fact sheet
Climate Risk Profile: Belize
The report assesses climate risks in Belize, specifically around the Maya Forest Corridor and marine reserves, highlighting vulnerabilities to sea level rise and hurricanes. It emphasizes the need for gender-responsive and socially inclusive nature-based solutions to combat biodiversity loss and food insecurity.
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Document type: Report
BPCE : un retard climatique qui s’accumule
Reclaim Finance criticizes BPCE for its continued financial support of major oil and gas developers and LNG infrastructure, noting that the bank lacks the ambitious exclusion policies and exposure-reduction targets adopted by other major French banks.
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Document type: Statement
How the G7 Can Advance Action on Fossil Fuel Subsidies in 2025
G7 countries are on track to miss their 2025 deadline to phase out inefficient fossil fuel subsidies, with total subsidies reaching a record USD 282 billion in 2023. The surge was primarily driven by consumer subsidies for natural gas and petroleum to mitigate energy price volatility following Russia's invasion of Ukraine. While some members have implemented domestic reforms or joined coalitions like COFFIS and CETP, the author argues that the G7 must now drop the 'inefficient' qualifier, establish national action plans, and prohibit all subsidies to coal and fossil fuel production to align with 1.5°C climate pathways.
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Document type: Research paper
British Columbians are dying from fossil fuel pollution: Will BC’s Attorney General take on Big Oil?
The document argues that the British Columbia government should apply its strategy of recovering healthcare costs from harmful product manufacturers—such as those in the tobacco and opioid industries—to the fossil fuel sector. It highlights significant health and financial burdens on BC's healthcare system, including costs from the 2021 heat dome, wildfire smoke, and the spread of infectious diseases due to warming temperatures. The authors contend that fossil fuel companies have profited while engaging in misinformation, and they call for a ban on fossil fuel advertising and the recovery of expenses from the oil and gas industry.
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Document type: Statement
Energy tax credits: What’s at stake
The policy brief asserts that energy tax credits are critical for commercializing diverse energy technologies to meet rising demand from AI and data centers, while lowering costs for households and strengthening local economies. It highlights specific credits—including 45Y, 48E, 45Q, 45V, and 45X—as vital for the development of baseload power (advanced nuclear, geothermal, fusion), carbon capture, hydrogen, and critical mineral manufacturing. The author warns that repealing these credits or shortening their eligibility would increase energy prices, threaten jobs, and undermine U.S. leadership in global markets, particularly against competitors like China. Additionally, the brief emphasizes that mechanisms like direct pay and transferability are necessary for tax-exempt entities and high-cost projects, such as advanced nuclear, to monetize these incentives.
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Document type: Policy brief
Banks have a responsibility to keep 1.5 alive
Reclaim Finance criticizes the Net Zero Banking Alliance (NZBA) for proposing a new protocol that replaces mandatory 1.5°C alignment with a non-binding goal of limiting warming to "well below 2°C, striving for 1.5°C." The document asserts that removing the 1.5°C requirement and the 2050 net zero target is an act of irresponsibility that contradicts UN climate agreements and the IPCC's findings on the necessity of the 1.5°C limit to prevent catastrophic climate impacts. It further argues that the NZBA's justification—that the world is not on track for 1.5°C—is an excuse to avoid the financial sector's responsibility to accelerate the energy transition by reallocating capital from high- to low-polluting activities.
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Document type: Statement
Lettre l'Agence des participations de l'Etat pour exiger d'ENGIE la fin de l'expansion gazire
Civil society organisations have called on the Agence des participations de l'Etat (APE), the primary shareholder of ENGIE, to force the company to stop expanding its gas infrastructure. The signatories argue that ENGIE's current climate strategy is incompatible with a 1.5°C warming limit and highlight risks associated with long-term LNG import contracts and new gas plant projects. They specifically demand a public commitment to exit gas for electricity production by 2035 in Europe and OECD countries, and by 2040 globally, while halting new gas infrastructure and long-term LNG contracts.
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Document type: Statement
Les contrats GNL d’ENGIE : un piège à long terme pour la transition énergétique
Reclaim Finance claims that ENGIE's long-term LNG import contracts, particularly those from the United States, drive the development of new export terminals and gas fields, contradicting decarbonization scenarios. The document highlights that these contracts lock in carbon-intensive trajectories for decades and risk creating stranded assets as European gas demand declines. It specifically cites contracts linked to the Port Arthur LNG terminal and the Rio Grande LNG project, the latter of which saw its carbon capture and sequestration project abandoned. Consequently, Reclaim Finance calls on shareholders to vote against the re-election of CEO Catherine MacGregor and the 'Say on Climate' proposal.
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Document type: Statement
Fusion on the Grid
The U.S. currently leads the private fusion energy sector with 25 companies and over $6 billion in investment, but faces significant competition from China's state-funded programs. The report highlights fusion's potential to provide clean, firm power, support AI-driven energy demand from data centers, and create a new export market. To maintain leadership, the author recommends a $9.25 billion one-time appropriation for the 2025 Reconciliation Package, reorienting Department of Energy research toward commercialization gaps like breeding blankets, and streamlining regulatory and export frameworks.
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Document type: Report
Empowering Himalayan communities: Solar micro-grids for enhanced resilience in Ladakh, India
The document details how GHE leverages tourism and corporate social responsibility (CSR) funding to install decentralized solar micro-grids in remote Himalayan villages in Ladakh. These projects provide clean energy to homes, schools, and health centers, reducing reliance on fossil fuels and improving living standards. Key outcomes include the electrification of 94 villages in Ladakh, the training of over 200 women as entrepreneurs and solar technicians, and the mitigation of over 230,500 tonnes of CO2 emissions annually. The model emphasizes community ownership, where households eventually take over operations and maintenance, and integrates livelihood support through homestays and traditional handicrafts.
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Document type: Case study
Transition finance for hard-to-abate sectors in Vietnam
The document outlines a comprehensive approach to transition finance for Vietnam's high-emission industrial sectors. It introduces a 'Five Hallmarks' framework for creating credible transition plans—covering performance targets, robust planning, implementation, internal monitoring, and external reporting—and provides specific decarbonisation pathways and technical criteria for the steel, cement, and basic chemicals industries. Additionally, it offers a five-tier maturity scale for financial institutions to assess corporate transition credibility and provides best-practice recommendations for issuing sustainability-linked bonds (SLBs) and loans (SLLs) to support the energy transition.
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Document type: Guide
Hydrogen readiness: a Trojan horse for fossil fuel lock-in
The report analyzes the emergence of 'hydrogen readiness'—the declared ability of infrastructure to use hydrogen in the future—within EU law, private finance, and national policies. It argues that the concept is often used as a 'Trojan horse' to justify the continued construction and subsidization of fossil gas assets. The author identifies significant risks, including carbon lock-in, price volatility, and external energy dependencies, and concludes that the term should be abandoned unless assets can use 100% hydrogen from the outset.
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Document type: Report
GCHA Submission: Consultation on the Draft NDC of Chile
The GCHA submission argues that Chile's climate action should be framed through a public health lens to maximize health co-benefits, increase public support, and reduce the disease burden on the healthcare sector. The document recommends aligning emissions targets with a 1.5°C limit, accelerating health-related climate risk assessments, and implementing specific mitigation actions within the healthcare sector, which currently accounts for 6.7% of national emissions. It further suggests phasing out diesel subsidies, accelerating the coal phase-out date to 2030, and deprivatizing water to protect public health. The GCHA emphasizes the need for disaggregated epidemiological data to protect vulnerable groups and suggests using WHO tools to quantify the economic returns of health-promoting climate actions.
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Document type: Statement