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The document analyzes the limitations of both shareholder engagement and full divestment in the oil and gas sector, citing recent moves by Dutch pension funds PFZW and ABP. It argues that while divestment may not provide immediate financial pressure on companies, total withdrawal removes necessary levers of influence. Reclaim Finance proposes a strategy of stopping new capital injections (specifically new bonds) while using voting rights to block 'climaticide' strategies, including voting against director re-elections and dividend distributions.

Reclaim Finance argues that neither passive engagement nor complete divestment is sufficient to force oil and gas companies to align with the Paris Agreement. Instead, it advocates for a 'third way' where investors stop purchasing new bonds but retain shareholdings to vote against directors, manager remuneration, and dividends at 2024 annual general meetings. The organization highlights that 96% of oil and gas producing companies continue to open new fields and that record profits are being prioritized for shareholder remuneration over the energy transition.

Reclaim Finance condemns TotalEnergies for distributing US$16.6 billion to shareholders in 2023 while continuing to prioritize oil and gas expansion. The organization calls on shareholders to vote against the reelection of directors, including Patrick Pouyanné, and against dividend allocations to push for a transition toward sustainable energy and emission reductions.

Approving pending LNG export terminals could increase U.S. domestic natural gas prices by 9 to 14 percent, leading to an estimated annual expenditure increase of $11-18 billion for U.S. households, businesses, and industry. The analysis suggests that average natural gas-heating households would see annual bill increases of $20 to $40, with higher impacts in cold-weather regions like Michigan and for low-income households who spend a disproportionate share of their income on energy.

The report identifies methane emissions from the oil and gas sector as a critical near-term climate risk and opportunity. It proposes a strategic framework based on emissions visibility, policy action, market activation, and accountability to drive the industry toward 'near-zero' leakage. Key recommendations include the adoption of low-methane procurement standards by governments and utilities, the use of third-party certifications like MiQ, and the implementation of policies to plug marginal wells. The document highlights recent regulatory moves in the U.S. and EU, and international initiatives like the MMRV and CLEAN frameworks, as essential steps to tip global gas markets toward low-emissions supplies.

The report concludes that the EU's demand for fossil gas and oil is in a long-term structural decline, making new production projects—especially in the Arctic—unnecessary and incompatible with 1.5°C warming limits. Analysis shows that existing production and current contracts will likely exceed EU demand by the 2030s in net-zero aligned scenarios, creating a risk of oversupply and stranded assets.

The Biden administration has announced a shift in how it determines if gas export projects are in the public interest, effectively halting the Calcasieu Pass 2 (CP2) project and at least 13 other pending facilities. Earthjustice asserts that this move prevents the lock-in of decades of fossil fuel use and protects low-income communities of color from further pollution. The briefing highlights that CP2 alone would produce emissions equivalent to over 47 new coal-fired power plants and 20 times the annual carbon emissions of the Willow drilling project. Additionally, the document argues that increasing gas exports raises domestic energy and heating prices for U.S. households and contradicts Europe's transition to clean energy, as European gas storage is nearly full.

Reclaim Finance asserts that the top 60 banks provided $122.2 billion to major LNG firms between 2016 and 2022, with most lacking policies to prevent further support. The report highlights that current LNG terminal developments could lead to a 235% capacity increase and 1.9 GtCO₂ of overshoot relative to IEA net zero goals. It criticizes European banks for continuing to finance import terminals despite exceeding current demand, risking long-term gas lock-in.

A coalition of civil society organizations is urging 50 financial institutions to pressure TotalEnergies, ExxonMobil, Santos, and ENEOS to cancel the Papua LNG project. The letter argues the project is incompatible with the 1.5-degree goal of the Paris Agreement, lacks the Free, Prior, and Informed Consent (FPIC) of Indigenous Peoples, and employs insufficient biodiversity offsetting measures. The authors call for shareholders to vote against director re-elections, stop purchasing new bonds, and establish a time-bound divestment strategy if fossil fuel expansion continues.

The Private Equity Stakeholder Project asserts that Global Infrastructure Partners (GIP) faces significant risks through its $3.5 billion investment and at least 46% ownership stake in the Rio Grande LNG Terminal. The document highlights financial risks stemming from volatile gas prices, rising costs, and a projected decline in global equity returns if funds fail to align with Paris Agreement goals. Environmentally, it claims the terminal could emit 163 million tons of carbon dioxide equivalent annually and may be more polluting than coal due to methane leakage. Socially, the project is opposed by the Carrizo Comecrudo Tribe of Texas, the city of Port Isabel, and other local councils in South Texas due to impacts on sacred land and local industries.

The document describes natural gas as a fossil fuel primarily composed of methane, a potent greenhouse gas. It details the process of hydraulic fracturing (fracking) and its negative consequences, including the contamination of millions of litres of clean water, the triggering of earthquakes, and the release of harmful air pollutants like VOCs and PM2.5. In British Columbia, the expansion of the LNG industry is noted to threaten Indigenous lands and water sources, such as the Wedzin Kwa river. The text asserts that methane is responsible for one-third of global warming and that 'renewable natural gas' is a form of greenwashing. It concludes by calling for a moratorium on new fracking permits and a transition away from methane for heating and cooking.

The document outlines the environmental and health risks associated with hydraulic fracturing (fracking) and methane gas, highlighting the disproportionate impact on Indigenous communities in British Columbia and the role of methane in global warming.

The report argues that Japan can mitigate national security risks from high energy import dependency by rapidly expanding domestic renewables and upgrading its power grid. It proposes that Japan leverage its capital and technical expertise to lead transition solutions in ASEAN countries and transform Tokyo into a global center for transition finance by aligning with international standards like the Climate Bonds Standards.

The briefing argues that Japan can mitigate its high reliance on energy imports—currently 99.7% for oil, 97.7% for LNG, and 99.6% for coal—by rapidly expanding domestic renewables and upgrading its national grid. It recommends implementing a JPY 7 trillion 'Master Plan' for interregional transmission to connect resources in Hokkaido and Kyushu to Tokyo. Internationally, the document urges Japan to lead ASEAN countries in transition and disaster resilience while ensuring its own transition measures remain science-based. It specifically warns against the use of LNG as a transition fuel due to methane leakage, noting one study found the GHG footprint of US LNG is 33% greater than coal using GWP20. Finally, it proposes leveraging Japan's financial sector and the GX Plan to make Tokyo a global hub for transition finance through supportive fund management rules and alignment with international standards.

The Russian economy is undergoing a fundamental shift characterized by a surge in military spending, the loss of European energy markets, and a growing dependency on China and India. While short-term stability is maintained through state control and the '3P factor' (Power, Passiveness, Propaganda), long-term prospects are marred by severe capital asset depreciation, a shrinking and aging population, and a lack of incentive for green transition or sustainability.

The author argues that Germany is struggling to balance its 'exportist' economic model and corporate interests with a more recent emphasis on a 'rules-based order' and human rights in its foreign policy. Historically, German engagement in Africa has been characterized by a light footprint and a focus on extracting raw materials, such as oil and minerals. The paper suggests that Germany should move away from this extractivist approach and instead support African-led initiatives for domestic resource mobilisation and regional complementarities, particularly through the AfCFTA, to foster a more just and green transition.

Reclaim Finance asserts that the 'transitioning away from fossil fuels' agreement at COP28 must be backed by concrete action from rich countries. It calls for the EU, US, Canada, Norway, the UK, and Australia to end domestic oil and gas production, stop their financial institutions from enabling global fossil fuel expansion, and provide concessional finance for just coal retirements and renewable energy deployment in the Global South.

The report argues that Senegal's strategy to fund its 2035 emerging economy goals through fossil fuel exports faces significant stranded asset risks due to declining global LNG demand and the competitiveness of renewable energy.

Reclaim Finance argues that Crédit Agricole's new climate commitments are insufficient because they do not explicitly ban the financing of new oil and gas infrastructure, such as LNG terminals. While the bank increased its target for reducing financed emissions from oil and gas loans to 75% by 2030, the organization notes that this does not guarantee an end to support for companies developing new fossil projects. The statement highlights specific examples of continued involvement, including the Port Arthur LNG terminal in the US and advisory services for the Papua LNG project, and criticizes the exclusion of only independent extraction companies while sparing integrated oil majors.

Fifty civil society organizations are urging financial institutions to cease support for the Papua LNG project, arguing it is incompatible with the 1.5°C global warming limit and the IEA Net Zero scenario. The project, involving TotalEnergies, ExxonMobil, Santos, and JX Nippon, is criticized for its estimated 220 million tons of CO2 equivalent emissions, risks of human rights abuses and environmental damage in Papua New Guinea's Gulf Province, and potential financial risks due to projected peaks in global gas demand by 2030.