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Brazil possesses a significant carbon competitiveness advantage due to its renewable-heavy electricity grid, but faces substantial risks from incoming Carbon Border Adjustment Mechanisms (CBAMs) and the EU Deforestation Regulation (EUDR). While 78% of its exports go to net zero-aligned markets, structural contradictions—such as continued fossil fuel exploration and the 'Devastation Bill'—threaten its climate credibility. The economy is heavily dependent on China, and recent unilateral tariffs from the US have introduced significant geopolitical volatility.

The document argues that financial institutions shape the future economy and must use robust climate transition plans to avoid maintaining the current climate-wrecking status quo. It outlines essential criteria for these plans, including decarbonization targets, strategies, engagement, reporting, governance, biodiversity, and the just transition, while identifying 'red lines' that signify major gaps in existing plans.

The report establishes a comprehensive framework for banks, investors, and insurers to create climate transition plans aligned with the 1.5°C goal. It details requirements for decarbonization targets, action plans, and engagement strategies, while providing 'red flag' indicators to identify greenwashing. The authors argue that current regulations are too vague and call for mandatory, standardized plans that include an immediate end to financing new fossil fuel production.

The November 2024 update reveals a three-year stagnation in global warming projections, with current policies setting the world on a path toward 2.7°C of warming by 2100. While renewable energy and electric vehicle deployment have seen record growth, these gains are offset by all-time high fossil fuel subsidies and increased funding for fossil fuel projects. The report warns that without a substantial increase in the ambition of 2030 and 2035 targets, the 1.5°C limit will likely be breached in the early 2030s, leading to a multidecadal overshoot.

The briefing finds that while net zero commitments among the top 50 steel producers have slightly increased, half of these companies still lack a 2050 target, and 23 lack concrete intermediate milestones. Transparency remains low, with only 15 companies defining their emission scopes. The report highlights the 2023 launch of the Science Based Targets initiative (SBTi) steel sector guidance as a key tool for improving target transparency and ambition, citing SSAB and Thyssenkrupp as early adopters.

Romania faces potential penalties under the EU Methane Regulation as three of its four active underground hard coal mines in the Jiu Valley exceed the EU's methane intensity threshold. Despite reporting zero hard coal production to the EU in 2022, the state-owned Jiu Valley Energy Complex (CEVJ) continued production, with plans to increase output to 2,000 tonnes per day by June 2024. The report highlights that coal mine methane (CMM) emissions added 72% to the climate impact of burning hard coal at the Paroseni power plant in 2022. While methane capture is technically viable, Romania's average degassing efficiency was only 25% in 2019. Furthermore, Romania has failed to implement any Abandoned Mine Methane (AMM) projects across its 173 closed mines, despite such practices being common in Germany and France.

The guidance outlines the operational requirements for Approved Verifiers to ensure the integrity of the Climate Bonds Certification mark. It details the verification processes for four certification types: Use of Proceeds (UoP), Assets, Non-Financial Entities, and Sustainability-Linked Debt (SLD). The document specifies a multi-stage methodology—comprising engagement, planning, risk assessment, testing, evidence gathering, and reporting—and mandates adherence to professional standards such as ISAE3000 or AA1000. It establishes strict independence and conflict-of-interest rules, requires professional indemnity insurance, and defines the oversight mechanisms used by the Climate Bonds Standard Secretariat to monitor verifier performance.

The fact sheet compares the climate policies of several major pension funds and endowments, detailing their net zero targets (ranging from 2040 to 2050), interim emissions reduction goals, and specific exclusions of fossil fuels in both public and private markets.

The Net Zero Stocktake 2024 finds that while net zero target-setting is increasing among companies, cities, and subnational governments, very few (5% or less) meet all minimum integrity criteria. The report highlights a significant rise in target-setting by Asian companies and notes that while national targets often act as an ambition 'ceiling', some subnational governments in countries like Australia, Germany, and India have set more ambitious targets than their national governments.

Reclaim Finance analyzed the decarbonization targets of 30 major banks, finding that most targets are overly complex, opaque, and fail to create a direct link between goal achievement and actual emission reductions. The analysis highlights that targets based on 'financed' or 'facilitated' emissions are often influenced by company valuation fluctuations rather than climate action. The report recommends that fossil fuel targets be based on reducing funding, high-emission sectors use physical intensity metrics, and absolute emission targets avoid value-based attribution factors.

The Net Zero Stocktake 2024 reveals a consolidation of net zero targets across countries, cities, and companies, but highlights a critical gap in integrity. While national targets now cover 87% of global GHG emissions, fewer than 5% of non-state entities meet all minimum procedural and substantive integrity criteria. The report emphasizes that national targets often act as a 'ceiling' for subnational ambition, though some regions in countries like Australia and Japan have historically pushed national goals forward. It also notes that members of the Race to Zero campaign generally outperform non-members on integrity measures, although absolute performance remains low.

Brazil is positioned as a potential global leader in green steel due to high-quality iron ore and vast renewable energy resources, though its industry remains heavily reliant on coal-based blast furnaces. While the country leads in biochar use, a full transition requires shifting to electric arc furnaces (EAF) and green hydrogen-based direct reduced iron (DRI). The report emphasizes that strategic policy and the upcoming COP30 summit are critical to overcoming the longevity of existing coal-based infrastructure and the high capital costs of new technologies.

Sweden adopted a net-zero target in 2017 with a broad scope, limited offsets, and interim targets for 2020, 2030, and 2040. To ensure durability, the country passed the Climate Act, which mandates a climate action plan every four years, annual budget alignment, and oversight by an independent Climate Policy Council. While emissions have generally declined since the 1990s and the 2020 interim target was met, recent political changes—including the removal of a dedicated Ministry for Climate and Environment and a reduction in biofuels requirements—have led to concerns about the deprioritization of near-term action in the December 2023 Climate Action Plan.

The report finds that Türkiye's domestic coal power plants are incapable of providing baseload electricity, characterized by an average availability rate of 52% and significant annual production losses of 22 TWh due to malfunctions. Despite this poor performance, coal-fired generation reached a record 118 TWh in 2023, contributing 20% of the country's total carbon emissions. The analysis highlights that domestic lignite plants are particularly inefficient, with energy efficiency 15% below the EU average, and some wind farms now achieve higher capacity factors than these coal plants. The document argues that Türkiye lacks a coal phase-out strategy, with some licenses extending to 2069, and recommends transitioning to cheaper renewable energy to meet its 2053 net zero target and mitigate potential EU Carbon Border Adjustment Mechanism (CBAM) costs.

Ember argues that the Boggabri coal mine's fugitive emissions are severely under-reported, using a self-led estimate that is 95 times lower than NSW state guidance. The submission warns that the proposed Modification 10, which involves mining deeper coal seams between 2033 and 2040, could result in Scope 1 emissions being 9 million tonnes higher than reported if state-recommended factors were used. Ember highlights a lack of assessment regarding how increased mining depth affects methane release and calls for a peer-reviewed assessment of pre-mine drainage mitigation before approval.

The document argues that the EU is currently in breach of the Aarhus Convention because the public and environmental NGOs lack a viable legal mechanism to challenge state aid decisions that violate environmental law. It explains that current CJEU admissibility standards effectively exclude NGOs, and that national court actions are insufficient substitutes. The briefing addresses business concerns, stating that a new review procedure would not be suspensive (meaning aid can still be granted and spent during litigation) and would not compromise confidential business information. It evaluates three options proposed by the Commission to grant access to justice, favoring the amendment of the EU Aarhus Regulation as the most legally certain and democratic solution.

The document highlights the increasing frequency of record-breaking global temperatures and extreme weather events, urging a shift toward scalable renewable energy, science-based net zero targets for subnational entities, and the fulfillment of climate finance commitments for developing countries.

The report reveals how 'Big Meat and Dairy' companies employ a 'corporate playbook' of distraction, delay, and derailment to maintain the status quo and avoid environmental regulation. The industry uses greenwashing, industry-funded science to downplay methane emissions, and aggressive lobbying to secure 'agricultural exceptionalism,' ensuring that climate actions remain voluntary and supported by public subsidies rather than mandatory regulations. The analysis highlights a significant disparity between the industry's public PR regarding 'techno-fixes' and its actual investment in low-carbon solutions, while documenting the systematic weakening of climate policies like the EU's Farm to Fork strategy.

The report details how 'Big Meat and Dairy' companies employ tactics similar to those of the tobacco and fossil fuel industries to avoid environmental regulation. These strategies include 'greenwashing' through weak net-zero targets, funding industry-biased research to minimize the impact of methane emissions, and aggressive lobbying to prevent binding legislation. The document highlights a pattern of 'carrot-only' approaches where companies promote voluntary technological fixes while spending more on advertising than on actual R&D for low-carbon solutions. A detailed case study on Italy reveals the use of transnational far-right narratives and online disinformation to frame cultivated meat as a threat to tradition and health, thereby supporting legislative bans.

The report exposes how 'Big Meat and Dairy' corporations employ strategies similar to those of the tobacco and fossil fuel industries to avoid environmental regulation. It identifies three primary tactics: distracting the public through greenwashing and targeting Gen Z via social media; delaying action by promoting voluntary targets and industry-funded science (such as GWP* metrics and 'regenerative agriculture'); and derailing legislation through political lobbying and 'revolving door' appointments. The analysis covers 22 major corporations across four continents, highlighting a systemic lack of scientific integrity in their climate goals and a preference for spending on advertising over low-carbon research and development. Specific case studies in the US, EU, Brazil, Australia, New Zealand, Italy, and Great Britain illustrate how these tactics have successfully weakened policies like the EU Green Deal and the Global Methane Pledge.