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The report documents the legal victory of Milieudefensie et al. v. Royal Dutch Shell PLC, where the District Court in The Hague ordered Shell to reduce its net carbon emissions by 45% by 2030 relative to 2019 levels. It explains the use of the 'duty of care' and human rights arguments to hold a corporate actor liable for its contribution to climate change, including Scope 3 emissions. The document also provides a 'mini-toolkit' for other NGOs planning strategic climate litigation, covering research, fundraising, and media strategies.

The report critiques the GFANZ network, noting that while it represents over a third of the world's investable capital, its guidelines are riddled with loopholes. Key failures include the lack of mandatory absolute emission targets, the omission of fossil fuel restrictions in the Race to Zero criteria, and a reliance on 'analysis paralysis' through complex financed emissions accounting. The author recommends that alliances mandate the cessation of financial services for new fossil fuel supply and require clients to adopt robust phase-out plans for coal, oil, and gas.

The statement critiques the French financial sector's response to the climate crisis, highlighting a divide between institutions adopting strict exclusion policies for oil and gas expansion and those maintaining the status quo. It specifically condemns the French Ministry of Economy and Finance for avoiding strict regulatory frameworks and calls on major entities like AXA to stop insuring new fossil fuel projects.

Reclaim Finance criticizes the French financial center for continuing to fund the expansion of fossil fuels despite scientific warnings. While a few institutions like La Banque Postale, MAIF, and Ircantec have committed to exiting oil, gas, and unconventional hydrocarbons by 2030, the document claims most French banks and insurers, including AXA, remain supportive of the industry. It specifically highlights TotalEnergies' plans to increase gas production by 35% by 2030 and calls on the French government to implement a mandatory regulatory framework to end fossil fuel financing.

A coalition of environmental organizations, including Reclaim Finance and Greenpeace, is urging AXA to end its insurance services for new oil and gas production and transportation infrastructure. The letter argues that AXA, as a leader in the insurance industry and chair of the Net-Zero Insurance Alliance, should follow the International Energy Agency's (IEA) 2021 World Energy Outlook, which states that no new fossil fuel exploration or fields are required for a net-zero scenario. The authors highlight AXA's previous leadership in divesting from coal and suggest that a similar exit from oil and gas would benefit both the climate and the company's shareholder value.

The South African Youth Climate Action Plan (SA YCAP) is a comprehensive framework developed by young people aged 13-30 to advocate for an intersectional and just transition to a decarbonised economy. It calls for the integration of youth in policymaking, the implementation of a national climate education plan, and a shift from fossil fuel dependency to decentralised renewable energy. The plan emphasizes the need for good governance to combat corruption in climate finance and proposes specific nature-based solutions and sustainable agricultural practices to protect South Africa's biodiversity and food security.

The report finds that while net zero commitments from private financial institutions have grown rapidly, reaching USD 93.3 trillion in assets, they often lack the interim targets, detailed transition plans, and specificity in regional or sectoral investment needed for genuine Paris alignment. It highlights a strong focus on coal divestment but a significant lag in phasing out oil and gas financing and addressing biodiversity loss.

The Framework for Sustainable Finance Integrity provides a technical set of 'Necessary Action' metrics across three categories—targets and objectives, implementation, and metrics and transparency—to align the financial sector with the 1.5°C goal of the Paris Agreement. It identifies significant gaps between current leading practices of major financial coalitions and the scientific requirements for a viable net zero pathway, particularly regarding short-term emissions targets, the phase-out of all fossil fuel finance, and the integration of social justice and biodiversity into financial mandates.

The document argues that to limit global warming to 1.5°C, all coal assets must be closed by 2030 in OECD and European countries and by 2040 globally. It outlines a comprehensive framework for financial institutions to phase out coal support, combining immediate exclusion criteria for new projects and high-exposure companies with a structured engagement process for remaining portfolio companies to ensure the actual closure, rather than the sale, of coal assets.

The report finds that most G20 and Eurosystem central banks lack credible sustainable investment policies for their non-policy portfolios, often relying on opacity or weak ESG criteria to mask continued support for fossil fuel companies. While the Banque de France is highlighted as a leader for its fossil fuel restrictions, the majority of analyzed banks either have no public SRI policy or use 'tricks' such as investing in green bonds without excluding major polluters. The document recommends that central banks adopt strict exclusion policies for coal and new fossil fuel projects to align with a 1.5°C warming trajectory.

The briefing outlines six insights for investors to drive net-zero transitions in the oil and gas, agricultural commodities, steel, and cement sectors. It emphasizes that while divestment is a common strategy, coordinated engagement to prevent new investments in polluting assets, promote sector-wide transitions, and influence value chains is more likely to achieve real-economy emission reductions. The authors suggest that investors should push for concrete actions, such as carbon capture projects in cement or production decreases in oil and gas, rather than relying solely on general emission trajectories.

The report examines four high-emitting sectors—steel, cement, agriculture, and oil and gas—concluding that none have seriously initiated the disruptive changes required to align with the Paris Agreement. It emphasizes that while long-term transitions will take decades due to investment cycles and systemic complexity, immediate action is required to avoid locking in polluting assets. The authors argue that investors can drive impact through active engagement with value chains and by pressuring companies to commit to fundamental business model shifts rather than simple portfolio reallocation.

The YOUNGO Health Working Group advocates for youth participation in a green post-COVID-19 recovery and UNFCCC negotiations, highlighting the link between planetary health and human health. The authors call for governments to treat climate change as a health emergency and increase their Nationally Determined Contributions to meet Paris Agreement objectives.

The Russian coal sector provides a low economic contribution to the national GDP but maintains high social and political significance, particularly in regions like Kuzbass. Despite this, the sector is heavily reliant on indirect state subsidies and faces a deteriorating infrastructure, with the average age of coal power plants reaching 53 years. The report highlights a disconnect between the Russian government's expectations of export growth and the reality of decarbonization trends in key markets such as the EU, China, and India. It argues that Russia lacks an official decarbonization scenario and that conservative views currently dominate policy, ignoring the risks of stranded assets and the impact of the EU's Carbon Border Adjustment Mechanism (CBAM). The authors propose a 'just transition' framework consisting of social programs for workers, regional economic diversification, and the introduction of an internal carbon price.

The Russian coal sector provides a negligible contribution to the national GDP but remains politically significant due to regional employment and historical stability concerns. While the Russian government continues to anticipate growth in coal exports, particularly to Asia, the report argues that this is unrealistic given the global low-carbon transition, the obsolescence of Russia's coal-fired power fleet, and the increasing competitiveness of renewable energy. The document highlights that the sector is heavily reliant on indirect government subsidies, such as reduced rail tariffs. It proposes a three-part just transition framework consisting of social re-employment programmes, regional economic diversification (especially in the Kuzbass region), and the implementation of a domestic carbon price to internalize environmental costs.

The report finds that while about one-third of Americans have engaged in consumer activism by rewarding or punishing companies based on their climate actions, there is a significant intent among 41% of the population to increase these activities. Barriers to activism include a lack of knowledge about which companies to target and a perceived lack of individual influence. There is broad public support for companies taking climate-friendly actions, such as using renewable energy and avoiding the funding of climate-denying candidates, with particularly high expectations for fossil fuel, airline, and automotive industries.

The document argues that traditional corporate climate leadership, focused on "net zero" and offsets, is insufficient. It proposes a "drawdown-aligned" framework where employees use their internal influence to transform business models, supply chains, and financial investments. Key recommendations include adopting "Emissions 360" accounting, divesting from fossil fuels, aligning political lobbying with the Paris Agreement, and prioritizing long-term planetary health over quarterly profits.

Reclaim Finance critiques a proposed initiative by the Asian Development Bank and Prudential to accelerate the closure of coal plants in Asia. The organization warns that the scheme could provide a financial lifeline to polluting plants, allow major fossil fuel funders like Citi, HSBC, and BlackRock to greenwash their reputations, and fail to ensure that resale profits are used for the energy transition rather than further fossil fuel investment.

The statement calls for a transition to 100% renewable energy in Africa by 2050 to address energy poverty and the combined impacts of climate change and Covid-19. It demands the installation of over 300GW of new renewable energy by 2030 and over 2000GW by 2050, emphasizing socially-owned, community-based systems. The plan estimates an annual investment requirement of US$130 billion, which it argues can be funded through public climate finance, debt cancellation, and stopping illicit financial flows. The authors call for a ban on new fossil fuel developments and the creation of 7 million well-paid jobs in the clean energy sector.

Reclaim Finance argues that Eurizon's March 2021 coal exclusion policy is insufficient due to vague definitions of 'clear direct involvement' in thermal coal and a lack of transparency regarding its implementation. The policy notably fails to address coal expansion plans and excludes index funds, 'LTE' funds, and certain mandates from its scope.