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The report critiques the AIIB's Climate-Focused Policy-Based Financing (CPBF) instrument, arguing that it contains significant loopholes regarding fossil fuel finance and lacks robust safeguards for human rights and gender equality. Based on an analysis of programmes in Brazil and Bangladesh, the authors find that while CPBF loans are counted as 100% climate finance, the funds are fungible and not tracked for specific climate outcomes. The document recommends banning all fossil fuel finance, strengthening the Project-affected Peoples’ Mechanism (PPM), and aligning Paris alignment methodologies strictly with the 1.5°C goal.

The report finds that between 2019 and 2025, 240 global banks provided US$590.8 billion to the top fifteen petrochemical companies, with a high concentration of funding from US, Japanese, Chinese, German, and UK institutions. Institutional investors held US$146.6 billion in exposure to these companies as of September 2025, dominated by US-based asset managers like Vanguard and BlackRock. The document argues that this financing persists despite structural risks such as overcapacity and collapsing profit margins, and often contradicts the public climate commitments of the financial institutions involved.

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.

The document asserts that TotalEnergies has effectively abandoned its 2050 net zero target in its March 26, 2026, Sustainability and Climate Progress Report. It argues that the strategy of life insurers who continue to finance the company under the guise of shareholder engagement has reached its limits, as the company's transition is described as being "in name only".

International public finance for energy projects by G20 governments and multilateral development banks exceeds USD 100 billion annually. While funding for fossil fuels dropped from USD 151 billion in 2016 to USD 37 billion in 2024, clean energy finance has grown more slowly, reaching USD 47 billion in 2024. The Clean Energy Transition Partnership (CETP) has significantly reduced fossil fuel finance among its members, though the redirection of these funds toward clean energy remains limited.

A group of 33 experts urges the organizers of the 2029 FIS Alpine World Ski Championships in Narvik to implement circularity, electrified transport, sustainable food, and a ban on fossil fuel sponsors to achieve their goal of being the most sustainable winter sports event ever.

The Savings and Investment Union (SIU) aims to bridge the gap between household savings and productive investments to address an annual financing gap of €750–800 billion by 2030. However, the author contends that the SIU lacks mechanisms to channel funds specifically toward EU priorities or the ecological transition, meaning it could facilitate lending to heavily polluting activities. The document highlights that the initiative is likely to benefit highly concentrated asset management firms, particularly US-based BlackRock and Vanguard, which are identified as major investors in fossil fuel bonds and supporters of fossil fuel company governance.

The report assesses the use of the Energy Supply Financing Ratio (ESFR) by global banks to measure sustainable power financing relative to fossil fuels. While six banks have now published or committed to this indicator, the analysis reveals a regional divide: European banks (BNP Paribas, Crédit Agricole, Groupe BPCE) often use narrow fossil fuel definitions and omit underwriting, while North American banks (Citi, JPMorgan Chase, RBC) include broader financing instruments but inflate sustainable ratios by including fossil-related technologies like carbon capture and fossil-based hydrogen.

A group of Canadian health professionals and community leaders is urging the Japan Bank for International Cooperation (JBIC) to halt funding for LNG Canada and the Coastal GasLink pipeline. They argue that current assessments fail to account for the cumulative health burdens of fracked gas extraction, transport, and terminal operations, particularly in Kitimat and northeast British Columbia. The authors claim JBIC is violating OECD guidelines, Japan's own Net Zero 2050 commitment, and international human rights standards, specifically regarding the lack of Free, Prior, and Informed Consent (FPIC) from Wet’suwet’en hereditary leaders and other Indigenous groups.

The report finds that nominee companies, primarily branches of major global banks, mask the ownership of fossil fuel assets in Australia, obscuring approximately 18% of the national fossil fuel CO2 emissions. It highlights that these structures allow investors, including superannuation funds, to maintain stakes in high-emitting projects while avoiding public scrutiny, and notes that Australian law currently lacks regulations to require the disclosure of the actual shareholders behind these nominees.

A coalition of NGOs denounces TotalEnergies' plan to restart the $20 billion Mozambique LNG project, citing a 'deep contempt' for local communities and the environment. The organizations highlight that the project's resumption is contingent on the Mozambican government approving a revised budget that includes $4.5 billion in additional costs incurred during the force majeure period. The statement further alleges severe human rights abuses, including the 'container massacre' and torture of civilians, and calls on financial institutions—including Crédit Agricole, Société Générale, and various export credit agencies—to withdraw their support.

The steel sector, responsible for 11% of global CO2 emissions, requires a significant increase in sustainable electricity to transition from coal-based production to electricity-intensive methods like green hydrogen-DRI and electric arc furnaces. However, the world's 65 largest banks continue to prioritize fossil fuel financing over sustainable power, with a financing ratio of 0.42:1 between 2021 and 2024, far below the IEA's Net Zero scenario. The document warns that insufficient investment in renewable energy risks a 'gas trap' where steelmakers remain locked into fossil gas instead of switching to green hydrogen. It specifically criticizes European banks for continuing to support coal-based steelmakers and met coal developers despite having decarbonization targets.

A coalition of NGOs, including Reclaim Finance and Friends of the Earth France, is urging banks to withdraw support for gas projects in Mozambique, specifically citing the 'fortress strategy' of TotalEnergies and the ongoing instability in Cabo Delgado.

A coalition of civil society organisations, including Reclaim Finance and Justiça Ambiental!, condemns the push by companies like TotalEnergies, ENI, and ExxonMobil to advance gas projects in Mozambique. They argue that restarting these projects, specifically the Mozambique LNG project, ignores unresolved community grievances and escalates security risks in Cabo Delgado. The organisations call on over 30 financial institutions, including Crédit Agricole and Standard Chartered, to withdraw support to avoid complicity in human rights abuses and environmental destruction.

The report analyzes the role of nominee companies—middlemen that hold shares in name only—in masking the identities of investors in Australian coal, oil, and gas projects. It finds that these structures obscure approximately 18% of Australia's national fossil fuel CO2 emissions and are predominantly operated by major global banks. The document highlights a lack of regulatory requirements for nominee disclosure in Australia, which allows investors, including some superannuation funds, to maintain stakes in high-emitting assets while avoiding public scrutiny.

Ten years after the Paris Agreement, French banks and insurers continue to heavily finance fossil fuel expansion, with some increasing their support for oil and gas extraction. The report argues that 'green finance' and ESG labels are largely greenwashing, as they fail to redirect capital away from climaticide activities. It further criticizes the French and European governments for favoring voluntary industry commitments over binding regulations and for weakening key directives like the CSRD and CSDDD under pressure from financial lobbies.

The report finds that while CETP members reduced international fossil fuel finance by up to 78% to USD 4.7 billion in 2024, the scale-up of clean energy finance remains slow, with only USD 3.2 billion in increases compared to 2019–2021. It highlights that less than one-fifth of funds shifted from fossil fuels were redirected to clean energy and calls for a collective target of at least USD 42 billion for clean energy finance in emerging markets and developing economies.

The report finds that while CETP signatories have significantly reduced international public finance for fossil fuels, this has not been matched by a corresponding increase in clean energy support. It highlights ongoing policy violations by several high-income countries and the risk of backsliding due to political shifts, particularly the United States' exit from the partnership in February 2025. The authors recommend a joint quantitative target of at least USD 42 billion per year for clean energy in emerging markets and developing economies by 2026.

Erlend Eggen, head of Klimakultur, criticizes the Arctic Race of Norway for its reliance on fossil fuel sponsorship, specifically Equinor, and the participation of the Israel Premier Tech team. He argues that the event's sustainability claims, such as using an electric car fleet, are undermined by the fact that Equinor's energy production remains over 99.6% fossil-based. The text highlights the role of cycling as a venue for corporate greenwashing and calls for the event to sign 'The Fossil Free Declaration' to phase out high-carbon partnerships.

Reclaim Finance disputes claims by Banque Populaire Caisse d’Epargne (BPCE) that it is reducing fossil fuel financing, asserting that BPCE's reporting excludes critical activities like gas liquefaction and bond underwriting. The document argues that BPCE's renewable energy targets are insufficient for a 1.5°C pathway and that the bank applies a double standard by aggregating financing types when reporting renewable investments but rejecting the same method for fossil fuel reporting.