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The report argues that financial institutions are hindering Europe's energy transition by providing hundreds of billions of dollars in support to fossil gas power producers and developers. It highlights a significant gap between the need to phase out gas by 2035 to align with a 1.5°C trajectory and the current trend of developing over 60 GW of new gas capacity. The document identifies a lack of robust sectoral policies among top banks and investors, which allows for continued corporate-level financing of gas-intensive utilities and the development of new base load plants, often as replacements for coal.

The document argues that the Upstream Petroleum Resources Development Bill (B13 - 2021) is fatally flawed because it seeks to "accelerate exploration and production" of oil and gas, which contradicts South Africa's climate commitments and the global goal of net zero by 2050. The authors highlight significant administrative shortcomings, specifically the lack of a clear definition for "interested and affected party" (IAP) and inadequate consultation requirements for most application types. Furthermore, the Bill is described as being in conflict with the One Environmental System (OES) by attempting to legislate on environmental matters that fall under the exclusive purview of the Minister for Forestry, Fisheries and the Environment. The submission also calls for the incorporation of Free, Prior and Informed Consent (FPIC) and a robust Social and Labour Plan (SLP) framework to protect vulnerable communities from the health and economic risks associated with petroleum extraction.

The NewClimate Institute argues that Germany's planned LNG terminal expansion exceeds necessary reserve buffers and threatens the country's climate targets. The report suggests that current floating terminals are sufficient for energy security, while further onshore expansion risks creating stranded assets and fossil fuel lock-ins. It criticizes the Federal Ministry for Economic Affairs and Climate Action (BMWK) and the Energy Economics Institute (EWI) for underestimating technical capacities in their analyses and for assumptions that conflict with the legally binding Climate Action Act.

Clean Energy Canada and the Canadian Climate Institute advocate for the rapid finalization of the Clean Electricity Regulations (CER) to provide investment certainty for non-emitting generation. They support a flexible performance standard and an emissions pooling approach but warn against excessive flexibility that could incentivize the continued use of natural gas as a baseload resource. The authors recommend a performance standard of no more than 60 tonnes of CO2 per GWh and oppose extending the End of Prescribed Life (EoPL) beyond 20 years to avoid stranded assets and prolonged emissions.

Natural gas is the fastest growing source of CO2 emissions from fossil fuels, with methane leakage potentially making its climate impact equivalent to coal. To align with the 1.5°C goal, global gas production and consumption must decrease by 30% by 2030 and 65% by 2050, with developed countries phasing out gas power by 2035. The document rejects the use of gas as a bridge fuel or a solution to the 2022 energy crisis, noting that expanding infrastructure creates stranded asset risks, particularly for non-OECD countries. It further argues that converting gas infrastructure to hydrogen is technically unproven and economically inefficient, and highlights severe public health risks associated with gas extraction, flaring, and domestic use.

ClientEarth argues that EIOPA's reliance on historical data to assess transition risks is flawed because future decarbonization will be non-linear and more rapid than past trends. The organization advocates for a precautionary approach, specifically proposing a 100% capital requirement for companies engaged in 'New Fossil Fuel Activities' (exploration, expansion, or development). ClientEarth also warns that sustainability market indices and corporate emissions targets are often unreliable due to greenwashing and inadequate methodologies, urging EIOPA to include absolute emissions and scope 3 emissions in its risk assessments to avoid underrepresenting systemic financial risks.

The report details a surge in EU gas infrastructure projects, including 30 fast-tracked LNG terminals and extensive pipeline networks, driven by the 'gas panic' after Russia's invasion of Ukraine. It warns that the proposed 227.2 bcm/y of additional LNG capacity would increase the EU's maximum import capacity by 136%, potentially costing €53.5 billion and emitting up to 950 million tons of CO2 annually. The document argues that these uncoordinated efforts, led by countries like Germany, Greece, and Italy, conflict with the EU's 'Fit for 55' climate goals and the European Climate Law. Additionally, it critiques the 'European Hydrogen Backbone' initiative, stating that repurposing methane pipelines for hydrogen is technically risky and economically unjustified, further entrenching fossil fuel use.

The document analyzes plans for €3.5 billion in new gas-fired power plants, pipelines, and LNG terminals in the Western Balkans. It argues that these projects, promoted by EU and U.S. institutions, would create a dependency on volatile gas markets and risk creating stranded assets, contradicting the region's carbon-neutral goals and the EU's 2050 targets.

The report details the significant financial backing provided by private equity firms for both approved and proposed LNG export terminals in the United States. It argues that the rapid growth of this industry, driven by short-term price spikes, is incongruent with diminishing international demand and the EU's carbon reduction goals. The document highlights specific firms like KKR, I Squared Capital, and Fortress Investment, noting that such investments expose institutional investors to climate-related financial risks and cause environmental and social harm to frontline communities.

ClientEarth is pursuing a 'world-first' derivative action in the High Court of England and Wales to hold Shell's Board of Directors personally liable for mismanaging climate risks. The claim argues that Shell's energy transition strategy is insufficient, as its net-zero targets are not reflected in budgets and its reduction targets focus on 'carbon intensity' rather than absolute emissions. ClientEarth asserts this mismanagement breaches the UK Companies Act, specifically Section 172, which requires directors to promote the company's long-term success. The action is supported by various institutional investors from the UK, Sweden, France, Belgium, and Denmark.

The 2023 Production Gap Report finds that global governments plan to produce significantly more fossil fuels by 2030 and 2050 than is consistent with the 1.5°C warming limit. Despite net-zero pledges, many major producers continue to plan increases in coal, oil, and gas extraction. The report argues for a rapid phase-out of fossil fuels, noting that reliance on carbon capture and storage (CCS) and carbon dioxide removal (CDR) is risky due to technical and economic uncertainties.

The 2023 Production Gap Report finds that governments plan to produce significantly more fossil fuels by 2030 and 2050 than is compatible with the 1.5°C goal of the Paris Agreement. Despite net-zero commitments, major producers continue to plan expansions, with coal production projected to increase until 2030 and oil and gas until at least 2050. The report emphasizes that relying on carbon capture and storage (CCS) and carbon dioxide removal (CDR) is risky due to technical failures and scale issues, urging a phase-out of coal by 2040 and a reduction of oil and gas to 25% of 2020 levels by 2050.

The NewClimate Institute finds that Germany's plan to build eleven LNG terminals with a total capacity of 73 bcm per year far exceeds the amount of gas needed to compensate for lost Russian pipeline imports. The report asserts that with continued energy efficiency and pipeline imports from neighbors, no new LNG terminals would be required. Building all planned terminals would likely result in stranded assets and undermine the energy transition by diverting resources from renewable energy and efficiency measures.

The NewClimate Institute asserts that Germany's planned LNG terminals are not necessary to meet gas demand following the loss of Russian imports and would likely become stranded assets. The report suggests that current demand could be met through continued imports from neighboring countries and increased energy efficiency, warning that full implementation of the 11 planned terminals would jeopardize the 2045 climate neutrality goal and violate the Paris Agreement.

The report analyzes the funding needs of China's power sector as it transitions from coal-dependency toward renewable energy under the '30·60' dual carbon goals. It highlights the role of transition finance, specifically Sustainability-Linked Bonds (SLBs) and transition bonds, in supporting high-carbon sectors. The document compares international standards from the Climate Bonds Initiative (CBI) with Chinese domestic frameworks, arguing that credible transitions require science-based targets, transparent KPIs—preferably greenhouse gas emissions—and robust internal and external monitoring to avoid 'greenwashing'.

The document analyzes a planned US$245 billion expansion of gas infrastructure in Africa, highlighting a significant imbalance where investment in LNG export terminals and pipelines far outweighs investment in domestic power generation. It warns that these projects, often driven by Europe's short-term energy crisis following Russia's invasion of Ukraine, risk becoming stranded assets while failing to address low electricity access in countries like Nigeria, Mozambique, and Tanzania.

The report highlights a significant imbalance in African gas infrastructure, where investments are heavily skewed toward LNG export terminals rather than domestic electricity generation. With an estimated $245 billion in total gas infrastructure investments underway or planned, the document warns of 'stranded assets' as the world transitions to clean energy and European demand fluctuates. It details the current and projected capacities of LNG terminals, pipelines, and gas-fired power plants, noting that while countries like Nigeria, Mozambique, and Tanzania pursue massive export projects, they continue to face severe domestic electricity shortages.

The document analyzes the current and planned gas infrastructure in Africa, highlighting a significant imbalance where the majority of investment is directed toward LNG exports to Europe rather than domestic electrification. It details the costs and capacities of LNG terminals, pipelines, and gas-fired power plants, noting that while billions are proposed for development, much of this remains in the proposal stage and faces financial risks due to the transient nature of European energy demand.

The report highlights a planned US $245 billion expansion of gas infrastructure in Africa, primarily driven by European demand following the Russian invasion of Ukraine. It argues that this focus on exports, particularly LNG and pipelines, undermines domestic energy needs and the transition to renewable energy. Significant funding gaps exist for proposed projects, and the report warns that these investments may become stranded assets as the global energy transition progresses.

The report finds that Carlyle and NGP have significant exposure to transition risk, with a large portion of their planned capital expenditure for upstream oil and gas projects incompatible with the Paris Agreement's goals. It argues that Carlyle's 'net zero' targets are insufficient because they exclude Scope 3 emissions and minority investments, and suggests that investors push for stronger transition planning and transparency.