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Climate Bonds Initiative introduces the 'Five Hallmarks of a Credibly Transitioning Company' to combat greenwashing in transition finance. These Hallmarks—Paris-aligned targets, robust plans, implementation action, internal monitoring, and external reporting—provide a science-based methodology to evaluate whether a company's transition is rapid enough to meet the 1.5C goal. The report details the integration of these Hallmarks into a new certification scheme for non-financial corporates and SLBs, emphasizing the need for common sectoral pathways over company-specific baselines. It also highlights the growth of the SLB market, particularly among high-emitting sectors, and the necessity of comprehensive scope 1, 2, and 3 emissions accounting to ensure transition credibility.

Reclaim Finance has submitted comments to the Glasgow Financial Alliance on Net Zero (GFANZ) regarding its draft recommendations for net-zero transition plans. The organization argues that the current draft lacks sufficient emphasis on critical requirements, such as an immediate end to financing fossil fuel expansion and a commitment to a "fair share" of the 50% global emissions reduction needed by 2030. Reclaim Finance further suggests that GFANZ should implement stricter accountability measures, including the delisting of members who fail to adopt credible plans and ensuring that engagement with clients prevents the sale of high-emitting assets to other operators.

The Canadian Climate Institute outlines four recommendations to improve Ontario's electricity policy: clarifying long-term emissions targets, expanding the mandates of the Ontario Energy Board (OEB) and Independent Electricity System Operator (IESO) to include climate goals, replacing ad hoc directives with a comprehensive long-term plan, and commissioning periodic technical pathway reports.

Natural Justice argues that the Climate Change Bill is insufficient due to a lack of urgent timeframes, the absence of concrete emission reduction targets aligned with the Paris Agreement, and inadequate provisions for funding and capacity-building at the local and provincial levels. The submission calls for the Bill to explicitly recognize nature-based solutions like forest protection, ensure transparency through automatic public access to information, and facilitate a just energy transition by phasing out fossil fuels.

The Net Zero Stocktake 2022 finds that while net zero target setting has expanded significantly—particularly among national governments and large companies—there is an 'alarming lack of credibility' across the landscape. Fewer than one-fifth of national and sub-national targets meet minimum procedural robustness standards, and 65% of corporate targets similarly fail these standards. The report highlights a widespread lack of transparency regarding the use of external offset credits and a deficiency in covering Scope 3 emissions among companies.

The Net Zero Stocktake 2022 finds that while net zero target setting is becoming nearly universal at the national level and increasing among corporations and cities, a significant lack of credibility and robustness persists. Fewer than one-fifth of national and sub-national targets meet minimum procedural standards, and 65% of corporate targets fail these same standards. The report highlights a widespread lack of transparency regarding the use of external offset credits and a deficiency in Scope 3 emissions coverage among companies.

The briefing reports that 2030 climate target updates have stalled since COP26, leaving the world on track for 2.4°C of warming based on current targets and 2.7°C based on current policies. Despite the Glasgow Climate Pact's request for governments to strengthen their Nationally Determined Contributions (NDCs) by the end of 2022, no major emitter has updated its target. The report highlights a significant emissions gap, noting that global emissions in 2030 would be twice as high as the 1.5°C limit allows without increased action. It suggests four pathways for governments to update targets: full NDC updates, expanding NDC coverage (specifically for China regarding non-CO2 gases), participating in new sectoral initiatives, or implementing policies to overachieve existing targets.

The Federal Court of Germany ruled that parts of the Federal Climate Protection Act (KSG) were incompatible with fundamental rights because they lacked provisions for updating greenhouse gas emission reduction targets from 2031 onwards. While the court found that the government breached obligations by omitting post-2030 targets, it declined to compel a limit of 1.5°C over 2°C, citing IPCC uncertainty and legislative discretion. The court also affirmed that national climate action is required regardless of whether such action alone can stop global climate change, and it granted standing to complainants from Nepal and Bangladesh, though it did not establish a specific duty of protection for people abroad under the Basic Law.

Reclaim Finance reports a decline in shareholder support for ambitious climate resolutions and a contradictory tendency for investors to approve 'pseudo-climate plans' that are incompatible with a 1.5°C warming limit. The organization highlights specific voting trends at European oil and gas majors and calls for a shift toward voting against companies continuing fossil fuel development.

Reclaim Finance argues that Repsol's energy transition strategy is insufficient, projecting that the company will exceed its carbon budget by 78.7% by 2050 and consume 82% of it by 2030.

A coalition of NGOs argues that TotalEnergies' climate strategy is incompatible with the 1.5°C goal, citing insufficient decarbonization targets and continued fossil fuel expansion. They call on investors to vote against the company's climate strategy and the reappointment of specific directors at the May 2022 Annual General Meeting, and to suspend new financial services to the company.

Reclaim Finance condemns TotalEnergies' decision to reject a shareholder resolution requesting Paris-aligned climate targets, arguing that the company's existing climate plan is incompatible with the 1.5°C goal and that its justifications for the rejection are fallacious.

The document calls on banks, insurers, and investors to use the 2022 AGM season to challenge fossil fuel expansion, citing IEA and IPCC reports that state new fossil fuel projects are incompatible with limiting global warming to 1.5°C. It highlights a gap between the decarbonization targets of financial players in the Paris financial center and their continued support for companies developing new fossil fuel projects. Reclaim Finance urges shareholders to block insufficient 'Say on Climate' plans, support climate-strengthening resolutions, and oppose the re-appointment of directors at companies persisting in fossil fuel development.

The document addresses the rise in EU ETS carbon prices, which reached €98.49 on 8 February 2022. It refutes claims from energy-intensive industries and countries like Poland and Spain that speculative trading is causing price spikes, noting that speculative activity accounts for only about 4% of ETS activity. The author opposes a proposal by MEP Peter Liese to release 100 million additional allowances if prices remain high for six months, arguing this would undermine emission reduction goals. Instead, the document advocates for reducing the oversupply of credits, ending free allowances, and aiming for a 70% reduction in ETS emissions by 2030 to provide a stable price signal for industrial decarbonisation.

The report finds that British Columbia, Alberta, Saskatchewan, and Newfoundland and Labrador provided at least CAD 2.5 billion in fossil fuel subsidies in FY 2020/21 and CAD 1.5 billion in FY 2021/22. It argues that these subsidies incentivize production that might not otherwise occur and hinder Canada's ability to meet its 1.5°C climate target.

The report argues that while COVID-19 provided a temporary respite for the environment, it exacerbated social inequalities and led to a rebound in carbon emissions. It contends that current 'green recovery' efforts are insufficient, primarily limited to wealthy nations and focused narrowly on decarbonisation while neglecting nature and social justice. The authors advocate for a structural shift toward a circular economy, nature-based solutions, and innovative finance like debt-for-nature swaps to ensure a sustainable and equitable transition.

The document warns that Brazil may stop producing official deforestation data for the Cerrado biome in April 2022 because the National Institute for Space Research (INPE) lacks guaranteed funding. It asserts that such a 'data blackout' would hinder scientific production, limit civil society access to information, and prevent the productive sector from using transparency as a commercial advantage in global markets. The text highlights that nearly half of the Cerrado's native vegetation has already been deforested, primarily driven by agricultural expansion, and that maintaining monitoring is a low-cost investment with high potential benefits for meeting climate goals.

The document highlights a significant gap between the intended CO2 capture initiatives in Europe and the actual storage capacity available to accommodate them. While Europe possesses a theoretical storage capacity of over 500 Gt, the development of sites is slow. Analysis indicates that by 2030, available storage capacity will only cover approximately half of the captured CO2 from announced projects, with the gap narrowing slightly to 40% of demand by 2032. The author argues that meeting net zero targets by 2050 requires coordinated planning, investment in geological characterisation, and streamlined permitting to expand storage infrastructure, particularly for regions lacking access to the North Sea.

The report finds that most of the 21 analysed European power utilities are failing to align their strategies with IEA Net Zero benchmarks. Only 43% have coal phase-out plans aligned with the 2030 EU/OECD target, and 100% are expected to operate fossil gas plants in EU/OECD countries beyond 2035. While total wind and solar capacity is projected to quadruple by 2030, this falls short of the required six-fold growth, and only 10% of companies are on track to achieve that minimum. The report highlights a lack of transparency regarding fossil gas and warns against speculative 'hydrogen-ready' claims used to justify continued fossil fuel use.

The report argues that the climate pledges of major oil and gas companies are 'empty promises' designed to deceive the public. It finds that none of the analyzed companies' plans meet the standards required to limit warming to 1.5°C, as they often exclude Scope 3 emissions, rely on unproven carbon capture technology, and continue to invest in fossil fuel exploration and production.