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The report finds that India's energy budgeting remains heavily skewed toward fossil fuels, with subsidies for coal, oil, and gas being nine times larger than those for clean energy in FY 2021. While fossil fuel subsidies have fallen 72% since 2014, public sector undertakings (PSUs) and public finance institutions (PFIs) continue to provide substantial support to fossil projects, often lacking clear net-zero roadmaps. The analysis reveals a stark gap between revenue and social costs: conservative externalities for fossil fuels in FY 2020 (INR 1,441,464 crore) were more than double the revenues generated (INR 6,52,564 crore). The authors recommend phasing out fossil fuel support, diversifying PSU investments, and using strategic taxation to fund a just transition and clean energy infrastructure.

The report contends that natural gas expansion in Africa contradicts the Paris Agreement and poses significant economic and environmental risks. It argues that renewable energy is more cost-effective and creates more sustainable employment than the fossil fuel industry. Through case studies of Egypt, Nigeria, and Senegal, the document demonstrates that shifting from gas-based power to high-renewable scenarios would increase job creation and, in the case of Egypt, significantly reduce premature deaths from air pollution. It concludes that developed nations must stop financing fossil fuels and increase climate finance to support Africa's transition to zero-emissions energy systems.

The report critiques the historical failure of technology transfer in clean energy, agriculture, and health, proposing a 'co-development' model to bridge the gap between developed and developing nations.

The document examines the failure of existing multilateral systems to address global-scale chronic risks, such as the climate crisis and the Covid-19 pandemic. It highlights the stark disparity in climate-related deaths and GDP losses between high-income and low-income groups, noting that the Global North bears significant historical responsibility for emissions while the Global South suffers the most severe consequences. The authors propose 'de minimis multilateralism'—focusing on common aversions—and the creation of a Global Resilience Reserve Fund and a Climate Risk Atlas for Developing Countries to enhance human security and financial resilience.

The document outlines a briefing on green hydrogen, identifying it as a critical tool for decarbonizing sectors like steel production. It highlights that green hydrogen currently accounts for less than one percent of U.S. production and faces significant cost disadvantages compared to fossil fuel-based alternatives.

Reclaim Finance criticizes ENGIE's transition plan, noting that its coal exit is largely achieved through selling assets rather than closing them, and that the company is increasingly dependent on fossil gas. The briefing warns that ENGIE's reliance on hypothetical future technologies like green hydrogen and its continued gas expansion in several countries are incompatible with a 1.5°C warming limit, calling for investor action at the company's General Meeting.

Reclaim Finance argues that ENGIE's climate strategy is inadequate because it relies on selling coal assets rather than shutting them down and maintains a heavy dependence on fossil gas. The briefing advises investors to vote against the company's "Say on Climate" resolution at the upcoming AGM, noting that ENGIE's targets align with a "well below 2°C" world rather than a 1.5°C pathway.

RMI advocates for a comprehensive transformation of the global economy across ten key fronts to meet the 1.5C climate target. These priorities include increasing political ambition, decarbonizing buildings and transportation, phasing out coal and gas, scaling green hydrogen, and enhancing emissions transparency. The organization emphasizes the need for a three- to six-fold increase in zero-carbon capital investments and the integration of mitigation and adaptation efforts, particularly in the Global South, to ensure an equitable transition.

The document highlights the dependency of the European wind industry on steel, noting that turbines consist of at least 70% steel. It argues that while wind energy is critical for the EU's energy transition, the steel production process remains highly carbon-intensive, emitting 1.85 tonnes of CO2 per tonne of steel in 2020. Using the example of Dirostahl in Remscheid, the brief illustrates the technical and financial barriers to switching from fossil gas to hydrogen or carbon capture and storage (CCS), specifically citing a potential price increase of 700 to 800 Euro per tonne of steel if switching to renewable hydrogen. It calls for the development of hydrogen and CO2 pipeline infrastructure and the implementation of policy tools like Carbon Contracts for Difference to maintain industrial competitiveness during the transition.

The report analyzes the EU's proposed CBAM, which will impose fees on carbon-intensive imports starting in 2026. It finds that the overall impact on China's exports will be moderate due to the limited number of covered sectors, primarily aluminum, iron, and steel. The authors recommend that China expand its national emissions trading system (CN ETS) to reduce exposure to fees and enhance competitiveness. For the EU, the report suggests dedicating CBAM revenues to technical assistance for developing countries and recognizing non-price-based decarbonization policies to reduce international tensions.

The report argues that expanding the CN ETS beyond the power sector to include iron and steel, aluminum, cement, chemicals, papermaking, and civil aviation is essential for China's decarbonization strategy. It identifies key obstacles including data collection challenges, industry concerns over international competitiveness (carbon leakage), and bureaucratic inertia. To address these, the authors recommend implementing a price collar to limit economic risk, simplifying allocation benchmarks to one per unique product to reduce information burdens, and highlighting the economic advantages of clean tech innovation. The report also uses green hydrogen as a case study to illustrate how CN ETS expansion can enhance the global competitiveness of Chinese enterprises.

Reclaim Finance argues that ENGIE's climate strategy is insufficient, citing a lack of short-term targets, a reliance on fossil gas, and a coal exit strategy based on asset sales rather than closures. The briefing recommends that investors vote against the 'Say on Climate' resolution and challenge the company on its gas and coal strategies.

The report assesses the current state of energy transition in Latin America and the Caribbean, identifying gaps in energy efficiency, electrification, and the adoption of low-carbon technologies like hydrogen and CCUS. It highlights the region's strong baseline in renewable electricity, primarily from hydropower, while emphasizing the need for more aggressive long-term targets and climate adaptation strategies to protect energy infrastructure from extreme weather.

The document analyzes India's power sector financing between 2013 and 2019, noting that while utility-scale renewables dominate tracked commitments, continued investment in coal-fired power remains a significant barrier to Paris Agreement alignment. It highlights the risk of stranded assets in the thermal sector and recommends a shift toward green bonds, improved transmission infrastructure, and the accelerated decommissioning of old coal plants to meet 2030 climate targets.

The report argues that blending green hydrogen into existing natural gas infrastructure for buildings and power generation is inefficient, costly, and risky. It finds that electrification is a superior alternative for the building sector due to higher energy efficiency and lower costs. In the power sector, hydrogen-fired turbines face significant NOx pollution challenges and risk becoming stranded assets. The authors recommend that green hydrogen be reserved for 'hard-to-decarbonize' sectors like industrial feedstocks, aviation, and marine shipping, while urging regulators to maintain a high burden of proof for any ratepayer-funded hydrogen projects.

The South African Renewable Energy Masterplan (SAREM) outlines a framework to localise the wind, solar PV, and battery energy storage value chains. It argues that localising 70% of components and 90% of Balance of Plant (BoP) and Operations and Maintenance (O&M) could create 36,500 direct jobs and contribute R420 billion to GDP by 2030. The plan emphasizes the need for market certainty through consistent public procurement and the transition to a points-based local content scoring system to incentivize high-value manufacturing over simple CAPEX spend. It specifically targets 'Just Transition hotspots' like Mpumalanga to pivot coal-sector workers into the green economy.

The report argues that South Africa does not need new gas-fired power generation until at least 2035, if ever, due to the falling costs of renewables and battery storage. It warns that current government momentum toward gas-to-power, including the RMI4P program and proposed LNG terminals, risks creating stranded assets and increasing electricity costs for consumers. The authors recommend a moratorium on gas-to-power development, focusing instead on rapid renewable deployment and energy efficiency.

The document examines India's power sector financing between 2013 and 2019, noting that while utility-scale renewables dominate tracked commitments, continued investment in coal-fired power creates significant misalignment with Paris Agreement temperature goals. It highlights the risk of stranded assets in the thermal sector and proposes innovative financial mechanisms, such as green bonds and foreign exchange hedges, to accelerate the energy transition.

In 2021, EU-27 electricity demand nearly returned to 2019 levels, with renewables reaching a record 1068 TWh and accounting for 37% of production. A critical shift occurred in the second half of 2021 when soaring gas prices made fossil gas more expensive than coal, leading new renewable output to predominantly replace gas rather than coal. While wind and solar output hit record highs (547 TWh), overall power sector emissions fell by an average of 2.5% per year since 2019, which is less than half the 6% annual decline required to align with a 1.5C pathway. Nuclear power continued a long-term structural decline, accounting for 26% of production in 2021.

Global Energy Monitor identifies 193,400 km of gas pipelines in construction or pre-construction, representing a US$485.8 billion stranded asset risk. The report highlights that China, India, Russia, Australia, the U.S., and Brazil are leading this expansion despite IEA warnings that gas usage must peak soon to align with the 1.5°C net-zero scenario. While some financial institutions and 39 countries have committed to ending public finance for fossil fuels by 2022, the gas industry continues to push for massive infrastructure growth, often justified by the potential for future hydrogen upcycling.