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The document advocates for a shift in investor strategy from traditional shareholder engagement to the use of bond markets as a strategic lever for climate action. It highlights that corporate bonds represent approximately 41 trillion USD and provide a critical point of influence during capital rounds. The author specifically calls for investors to refuse bonds from companies developing new fossil fuel projects and identifies the Samcheok coal plant project in South Korea as a key test case for this approach.

The document advocates for the use of the corporate bond market as a strategic lever for climate action, arguing that it offers more direct influence over companies than equity-based engagement. It specifically calls for investors to stop purchasing bonds from companies not aligned with the Paris Agreement and highlights the Samcheok coal plant project in South Korea as a critical test case for investor climate consistency.

The report finds that while renewable energy investment is growing, continued funding for fossil fuel power plants and the presence of 'locked-in' emissions from existing assets keep the global power sector on a temperature trajectory exceeding 3.2°C. It highlights a significant gap between actual 2018 investment carbon intensities and the negative thresholds required by 2030 to achieve Paris alignment. The analysis identifies specific misalignments among major economies like China, India, and Japan, and among financial actors such as commercial banks and export credit agencies. The document recommends halting new carbon-intensive investments, accelerating the retirement of existing fossil fuel plants, and harmonizing climate risk reporting.

The report finds that the value of Uganda's upstream oil reserves has declined by 70% since 2013 due to structural changes in the global oil market, with a further $10 billion at risk in a transition aligned with the Paris Agreement. Current commercial terms are deemed insufficient for international oil companies like Total and CNOOC to reach a final investment decision, likely necessitating costly renegotiations for the Ugandan government. The authors argue that relying on oil for economic development is increasingly risky and recommend diversifying the economy, potentially through electrification, while incorporating climate transition and physical risks into public debt sustainability forecasts.

The 2020 Scorecard reveals a growing trend of insurers retreating from coal, with at least 23 companies ending or limiting cover for coal projects. While coal insurance is becoming increasingly difficult and expensive to obtain, the report finds that the industry has largely failed to take comprehensive action on oil and gas. European and Australian insurers are leading the transition, whereas companies in the U.S., Japan, and the Lloyd's market are identified as laggards. The report also highlights a significant increase in coal divestment, with 65 insurers now having policies covering over $12 trillion in assets.

The report finds that the financial sector is the largest block opposing an EU taxonomy for polluting activities, with 74 institutions representing 45% of opponents. It highlights a contradiction where many financial players oppose the taxonomy while adhering to international climate initiatives. The document argues that professional federations are often used by influential members to push anti-climate agendas, and that opponents use misleading arguments to protect high-emission activities, particularly in the energy and steel sectors.

The Net-Zero Asset Owner Alliance (NZAOA) is criticized for a loophole in its thermal coal position paper that permits the completion of plants under active construction, potentially enabling 189.8 GW of new capacity. This contradicts the alliance's goal of net-zero emissions by 2050 and the IPCC's warnings regarding the 1.5°C warming limit. The document highlights the Turow lignite expansion in Poland as an example of a problematic project under construction and warns of significant stranded asset risks, noting that up to 72% of global thermal coal capacity could be loss-making by 2040.

ClientEarth urges EU decision-makers to prohibit the use of Recovery and Resilience Facility (RRF) funds for gas-reliant projects, asserting that such investments would breach the Paris Agreement and EU legal obligations. The document argues that gas is not a viable 'bridge fuel' due to methane leakages and that existing infrastructure overcapacity makes new investments a stranded asset risk.

The report examines the current state of compensation under investment treaties, highlighting a trend toward increasingly large awards driven by the use of forward-looking valuation methods like Discounted Cash Flow (DCF). It identifies systemic issues, including discrepancies between invested amounts and awarded compensation, the complexity of valuation processes, and the disregard for contextual factors such as public interest or a state's ability to pay. The document reviews emerging treaty practices from Africa, India, and the EU and proposes four reform options: balancing rules, capping compensation at the amount invested, integrating gain-based considerations, or applying the host state's domestic law.

The document examines the current state of compensation in investment treaty disputes, highlighting a trend toward massive awards driven by the 'discounted cash flow' (DCF) method. It argues that current practices often diverge from international law and national legal standards, creating significant financial burdens for host states. The guide analyzes three main valuation categories—market-based, income-based, and asset-based—and evaluates emerging treaty practices from Africa, India, and the Netherlands. It concludes by proposing four reform options: balancing rules, limiting compensation to actual investment amounts, integrating host-state benefit analysis, and applying national laws.

The guide argues that traditional mining tax regimes, primarily based on corporate income tax and royalties, are outdated and vulnerable to profit shifting. It highlights how the energy transition, disruptive technologies like AI and automation, and climate change are altering the economic landscape of the extractive sector. The document proposes a three-step dialogue process involving governments, industry, and civil society to identify innovative fiscal reforms that ensure sustainable and equitable revenue collection for resource-rich developing nations.

The policy brief examines the opportunities and challenges of a sustainable energy transition partnership between the African Union (AU) and the European Union (EU). It highlights Africa's vast renewable potential and the EU's need for clean energy, while cautioning against post-colonial rhetoric and the economic risks for African fossil-fuel-dependent nations. The authors recommend a joint vision focused on infrastructure investment, technology transfer, and job creation to ensure a just transition.

The report examines the socioeconomic impacts of industrial decline and evaluates the effectiveness of various transition responses. It argues that successful 'just' transitions require early strategic planning, multi-stakeholder governance, and a holistic approach to regional economic development that builds on existing local capabilities rather than seeking a single industrial replacement. Through case studies in the US, UK, Australia, and South Africa, the document highlights the risks of uneven benefit distribution, the importance of reskilling over simple monetary compensation, and the necessity of addressing environmental legacies to enable land reuse.

The Canadian federal government has introduced a strategic assessment requiring major infrastructure projects with lifespans extending beyond 2050 to provide a concrete plan for achieving carbon neutrality by 2050. While some critics argue the measure lacks a rigorous 'climate test' or is an improper strategic tool, the author contends its primary value lies in providing decision-makers with additional information and signaling to promoters that strict climate policies are forthcoming. The document highlights that high-emission, high-cost projects face risks of stranded assets due to future policy shifts and investment reorientations. While the author notes that the strategic assessment alone may not prevent stranded assets—especially since it only applies to projects lasting past 2050—it is viewed as a step toward investment stability. The author suggests that a 'climate accountability framework' with intermediate emission reduction milestones would further bridge the gap between long-term goals and short-term actions.

The report finds that global LNG terminal capacity under construction more than doubled between 2019 and 2020, increasing capital expenditure from $82.8 billion to $196.1 billion. This expansion is primarily driven by North American efforts to create new markets, but faces significant headwinds from the COVID-19 pandemic, falling gas prices, and intensifying opposition. The authors argue that the 'bridge fuel' narrative is undermined by high methane leakage rates, with some estimates suggesting LNG-powered electricity can have a global warming impact up to 16% higher than coal. Furthermore, the report highlights a high failure rate for proposed export projects (61% since 2014) and the risk of stranded assets as renewables become more cost-competitive.

The report argues that current utility regulation is incompatible with an all-electric future and proposes ten strategies to decarbonize US buildings. It emphasizes electrification via heat pumps as the primary solution, warning that alternative fuels like biomethane are costly and limited in scale. Key recommendations include reforming electricity rate designs, updating energy efficiency standards to account for total emissions, and proactively managing the retirement of gas infrastructure to avoid stranded asset risks and inequitable cost burdens on low-income customers.

Carbon Market Watch calls for the European Commission to revise non-financial reporting directives for companies with over 500 employees. The organization advocates for mandatory disclosures on climate risks, decarbonization pathways, state aid, 'Just transition' efforts, and lobbying expenditures. Additionally, it seeks greater transparency on the use of the EU emission trading scheme (EU ETS), including internal CO2 pricing and the use of carbon offsetting, to ensure investments align with the European Green Deal.

Between January 2017 and June 2020, Japanese public and private institutions provided at least US$23.4 billion in financing for LNG infrastructure across 10 countries. The report argues that the original rationales for this policy—energy security, climate friendliness, and economic viability—are now flawed due to the vulnerability of supply chains exposed by COVID-19, the high global warming potential of methane leakages, and the declining costs of renewable energy. It highlights that major Japanese banks (MUFG, Mizuho, and SMBC) provided the bulk of this funding, while five major trading companies saw a combined year-on-year profit drop of US$625 million in LNG-related businesses by March 2020. The document concludes that continuing to fund LNG infrastructure risks creating stranded assets and contradicts the UN's Principles for Responsible Banking.

Between January 2017 and June 2020, Japanese public and private institutions provided at least $23.4 billion in funding for LNG infrastructure across 10 countries. The report argues that this strategy, led by the Ministry of Economy, Trade and Industry (METI), is flawed due to the high carbon footprint of LNG, the falling cost of renewable energy, and market volatility exacerbated by the COVID-19 pandemic. It highlights significant financial risks, including potential stranded assets and declining profits for major Japanese trading houses, and calls for an immediate shift toward clean energy investments.

The document examines the climate impact of the European Central Bank's (ECB) asset purchase programs, specifically the Corporate Sector Purchase Programme (CSPP) and the Pandemic Emergency Purchase Programme (PEPP). It highlights a significant lack of transparency regarding the value of held assets and argues that the ECB's 'market neutrality' principle results in a portfolio heavily weighted toward carbon-intensive sectors. The report identifies 38 fossil fuel companies in the ECB's portfolio, including 10 linked to coal and several majors like Shell, Total, and Eni. It concludes with recommendations for the ECB to exclude companies without 1.5°C-aligned exit plans and to adopt a 'brown taxonomy' to better target asset purchases.