Search Climate Insights Directory

ClientEarth has issued a formal letter to Deloitte alleging that the firm is failing to demonstrate how it incorporates material climate risks into its audits of listed companies. The document asserts that existing standards from the IASB, IAASB, and FASB already require the consideration of climate-related matters. Referencing a report by Carbon Tracker and the Carbon Accounting Project, ClientEarth claims that Deloitte and other auditors are habitually failing to provide evidence of climate risk assessment, creating an information gap for investors and risking legal liability in jurisdictions such as the UK and US. The letter calls on Deloitte to review its audit practices, ensure consistency between financial statements and narrative climate commitments, and adopt Paris-aligned accounting assumptions.

ClientEarth asserts that KPMG and other auditors are failing to incorporate material climate-related financial risks into company audits, despite clear guidance from standard-setters like the IFRS Foundation and IAASB. Referencing a Carbon Tracker report, the letter highlights a systemic lack of transparency regarding climate-sensitive assumptions and a failure to align accounts with the Paris Agreement. ClientEarth warns that this creates a material information gap for investors and exposes KPMG to regulatory sanctions and legal liability in the UK and US.

ClientEarth asserts that EY and other auditors are failing to incorporate material climate-related financial risks into company audits, despite clear guidance from standard-setters like the IFRS Foundation and IAASB. Referencing a Carbon Tracker report, the letter highlights a systemic lack of transparency regarding climate-sensitive assumptions in financial statements. ClientEarth warns EY of potential legal and regulatory liabilities in the UK and US and calls for a comprehensive review of its audit practices for carbon-intensive firms.

ClientEarth has issued a formal letter to PwC alleging systemic failures in the audit of climate-related financial risks. The document asserts that existing IFRS, US GAAP, and IAASB standards already require the consideration of material climate risks, yet a report by Carbon Tracker indicates that PwC and other auditors frequently fail to demonstrate this scrutiny. ClientEarth warns that such failures create an information gap for investors and expose PwC to regulatory sanctions, shareholder claims, and potential criminal liability. The letter calls for a comprehensive review of PwC's audit practices for carbon-intensive companies and a commitment to using Paris-aligned accounting assumptions.

The document outlines a framework for sector-level climate planning, arguing that such processes are essential for achieving the Paris Agreement and providing the necessary data for Nationally Determined Contributions (NDCs) and Long-Term Strategies (LTSs). It emphasizes that aligning planning across sectoral, national, and international levels creates synergies and enables more informed decision-making.

The document outlines key lessons for SADC member states to improve their NDCs, emphasizing the need for inclusive stakeholder engagement, alignment with long-term development goals, and the use of quantifiable targets and evidence-based analysis. It highlights examples from South Africa, Rwanda, and Costa Rica to demonstrate how detailed implementation roadmaps and participatory scenario planning can enhance climate commitments.

The document examines the intersection of pandemic recovery and climate finance, highlighting that most global recovery funds are not contributing to greening economies. It emphasizes the failure of developed nations to meet the $100 billion annual climate finance pledge and advocates for a new goal of $1.3 trillion per year by 2030 to support African countries. The briefing identifies significant barriers to accessing finance, including complex procedures and a lack of climate data, and suggests using Nationally Determined Contributions (NDCs) to hold governments accountable for the climate impact of their recovery spending.

The report identifies the fossil fuel industry as the most litigious sector in the ISDS system, accounting for nearly 20% of all known cases. It highlights a significant lack of transparency, with 54% of concluded cases remaining confidential. Findings show that investors frequently win on the merits (72% of disclosed cases) and receive substantially higher awards than non-fossil fuel investors, averaging over USD 600 million. The analysis emphasizes the role of the Energy Charter Treaty (ECT) and contract-based arbitrations, particularly in low-income countries. The report concludes that the ISDS system can create a 'regulatory chill,' deterring states from implementing urgent climate policies and phasing out fossil fuels to meet Paris Agreement objectives.

The Supreme Court of Spain rejected a motion to dismiss a lawsuit filed by environmental activists who argued that Spain's National Energy and Climate Plan failed to align with the Paris Agreement and IPCC recommendations. The court ruled that the government's inactivity persists because it has not fully complied with the Paris Agreement, allowing the challenge to the plan's ambition to proceed.

A group of German youth successfully challenged the Federal Climate Protection Act, leading the Federal Constitutional Court to rule that the law violated fundamental rights by failing to specify sufficient emission cuts beyond 2030.

The Climate Action Handbook is a guide designed to empower South African communities to respond to climate change by combining scientific understanding with legal action. It defines climate vulnerability and resilience, outlines South Africa's specific climate risks and legal framework—including constitutional rights and environmental legislation—and provides a ten-step practical framework for community-led climate action, ranging from advocacy and information gathering to formal legal proceedings.

The Administrative Court of Paris ruled that the French government's failure to implement effective measures to address climate change caused ecological damage. In October 2021, the court ordered the State to take immediate and concrete actions by December 31, 2022, to comply with emission reduction commitments and repair damage by subtracting excess emissions from its 2021 and 2022 targets.

The Supreme Court of Nepal ordered the government to enact a new climate change law after finding that the Environmental Protection Act of 1997 was inadequate for mitigation and adaptation. The court ruled that inaction violated constitutional rights to a dignified life and a healthy environment, as well as international commitments under the UNFCCC and the Paris Agreement. Following the decision, Nepal passed the Environment Protection Act of 2019 and the Forests Act of 2019.

The Local2030 Coalition is a UN-anchored platform aimed at bridging the gap between global SDG targets and local implementation. Based on a global baseline study, the coalition identifies critical gaps in advocacy, action, and monitoring. Its strategy focuses on empowering local actors, fostering multi-stakeholder partnerships, and leveraging UN expertise to ensure a green and inclusive recovery from the COVID-19 pandemic. The coalition is co-chaired by UN-Habitat and other rotating UN entities, with a focus on providing a convening space for knowledge sharing, policy alignment, and improved access to SDG financing.

The report examines how World Bank Development Policy Finance (DPF) in Indonesia and Pakistan has facilitated the expansion of fossil fuels. In Indonesia, a $500 million loan specifically promoted natural gas infrastructure, while the Bank's private sector arm, the IFC, has been linked to coal projects. In Pakistan, the $400 million PACE program's 'prior actions' led to the fast-tracking of an energy plan (IGCEP) that slashed renewable energy targets from 30-33% to 17% and increased reliance on coal, gas, and large-scale hydropower. The authors conclude that DPF often supports fossil fuels by default through sector stabilisation and recommend that all fossil fuels be added to the World Bank's Excluded Expenditures list.

The author identifies several key environmental priorities for the WTO's MC12, including a deal on fishery subsidies and the launch of member-led initiatives like the Trade and Environmental Sustainability Structured Discussions (TESSD). The text emphasizes the need for inclusive cooperation that supports developing countries through financing and technical assistance to ensure a global green economy that does not leave the poorest behind.

The report argues that achieving Paris Agreement goals in Latin America requires comprehensive policy frameworks and long-term visions to provide the planning certainty necessary to mobilise private capital for decarbonisation.

The document provides a multi-expert critique of COP26, noting that while the summit completed the Paris Agreement rule book and secured net zero commitments for 90% of the world, it failed to secure a 'grand bargain' for coal with India or a loss and damage fund. It highlights the $8.5 billion just transition deal for South Africa as a potential model but warns that developed nations have failed to meet the $100 billion annual finance goal. Experts argue that the summit ignored the critical role of oceans in carbon absorption and failed to address the resource-intensive economic systems driving global warming.

Carbon Market Watch criticises the IMO's slow progress on shipping emissions and the insufficiency of its 2030 energy efficiency targets. It highlights a growing coalition of countries and companies calling for zero emissions by 2050 and advocates for a strong market-based measure, specifically a carbon levy, to bridge the price gap between fossil and sustainable fuels and support climate justice.

The We Mean Business Coalition welcomes the Glasgow Climate Pact as a vital framework for keeping global warming to 1.5°C, noting that it provides the certitude needed for business to scale up climate solutions. The coalition emphasizes the need to fast-track the implementation of national plans and pledges, specifically calling for the phase-out of coal-fired power by 2030 for advanced economies and 2040 for others, and the removal of fossil fuel subsidies by 2025. The statement highlights the importance of the Net-Zero Standard from the Science Based Target initiative (SBTi), the creation of the International Sustainability Standards Board (ISSB) for global reporting, and the agreement on Article 6 rules for carbon markets to drive deep decarbonization.