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The report examines the risks associated with LNG export projects in Mozambique, particularly those involving the European Union. It finds that these projects have caused social displacement, environmental damage, and increased sovereign debt without delivering promised economic development. The authors argue that the 'gas for development' narrative is unsupported by evidence, as Cabo Delgado's socio-economic conditions have worsened since gas discoveries. Financial risks include volatile global gas prices, declining long-term demand due to the energy transition, and contractual designs that delay government revenues until the 2030s. Furthermore, the report highlights an erosion of sovereignty through investor-state dispute settlement (ISDS) mechanisms and the prioritization of infrastructure security over civilian protection. It recommends that Mozambique reassess operational projects, halt new LNG developments, and prioritize sustainable economic diversification.

The report finds that asset managers largely fail to use their voting power to oppose fossil fuel expansion, often supporting the governance and strategies of climate-hostile companies. Despite public commitments to climate action, the analysis reveals that most asset managers' voting policies lack robust, action-oriented criteria and that their actual voting records show high support for the re-election of directors and remuneration of executives at companies pursuing expansion plans incompatible with a 1.5°C scenario.

A joint statement by Reclaim Finance and other organizations challenging TotalEnergies' claims regarding the Papua LNG project. The authors argue the project contradicts global climate goals, risks becoming a stranded asset due to peaking gas demand, and threatens high-biodiversity native forests. They further contend that the project's social safeguards are insufficient, citing a lack of transparency and opposition from local clans and chiefs in Papua New Guinea.

A joint statement by Reclaim Finance and partners challenging TotalEnergies' claims regarding the Papua LNG project, asserting that the project is incompatible with a 1.5°C warming limit, risks becoming a stranded asset, and threatens indigenous forests and community rights in Papua New Guinea.

The brief argues that Colombia should not develop offshore gas fields that have been licensed but have not yet reached a final investment decision, as doing so would conflict with Paris-aligned energy scenarios and the government's commitment to avoid new oil and gas licenses.

The 2023 Production Gap Report reveals that governments plan to produce approximately 110% more fossil fuels by 2030 than is consistent with the 1.5°C temperature limit. Specifically, projections indicate 460% more coal, 29% more oil, and 82% more gas in 2030 compared to the 1.5°C pathway. The report notes that while major producers have pledged net-zero emissions, none have committed to production reductions aligned with the 1.5°C goal. To mitigate risks, the report recommends a near total phase-out of coal by 2040 and a three-quarters reduction in oil and gas production by 2050 from 2020 levels.

The briefing contends that fossil fuel extraction in Africa has failed to provide energy access, with 600 million people remaining without power while resources are exported. It highlights that Africa possesses 39% of the global renewable energy potential but lacks the investment and technology to harness it. The document proposes a Fossil Fuel Non-Proliferation Treaty based on non-proliferation, fair phase-out, and a just transition to provide the international framework needed to shift financing from fossil fuels to renewables and ensure a just energy transition for the continent.

The briefing contends that fossil fuel extraction in Africa has failed to provide universal electricity access, with 600 million people still lacking power, while most production is exported. It highlights that Africa possesses 39% of the world's renewable energy potential but receives only 2% of global renewable investments. The document proposes a Fossil Fuel Non-Proliferation Treaty based on three pillars: non-proliferation of new infrastructure, a just phase-out of existing production, and financial/technical support for a global transition to renewables.

The 2023 Production Gap Report finds that governments plan to produce more than double the amount of fossil fuels in 2030 consistent with a 1.5°C warming limit. While many major producers have pledged net-zero emissions, most continue to expand production, with global coal production projected to increase until 2030 and oil and gas until at least 2050. The report argues for a managed, equitable phase-out of all fossil fuels, noting that reliance on carbon capture and storage (CCS) and carbon dioxide removal (CDR) is risky due to technical uncertainties and a poor track record of pilot project success.

The document assesses the vulnerabilities of Africa's Agenda 2063 framework to escalating climate change, noting that the original 2015 plan relied heavily on fossil fuel assets now at risk of becoming stranded. It highlights a significant 'adaptation deficit' and an economic impact where climate change reduces GDP per capita growth by 5% to 15%. The brief warns that achieving Agenda 2063 goals could release an additional 297 million tons of carbon by 2043, potentially increasing Africa's share of global emissions to 12%. It provides specific recommendations for national governments, Regional Economic Communities (RECs), and the African Union to pivot toward climate-resilient agriculture, renewable energy, and coordinated transboundary water and mobility strategies.

The Eurosystem Collateral Framework (ESCF) currently exhibits a 'carbon bias' by granting eligibility and low haircuts to assets from high-carbon companies, including fossil fuel developers, which creates favorable financing conditions for these entities. While the European Central Bank (ECB) announced in July 2022 that it would integrate climate considerations, the document notes that the ECB returned haircut valuations to pre-pandemic levels in December 2022 without climate adjustments. The brief argues that a risk-focused approach is insufficient due to 'radical uncertainty' and unknown climate tipping points. It recommends that the ECB adopt a 'precautionary' approach—such as the 'Paris decarbonization benchmark'—to link haircuts directly to greenhouse gas emissions and exclude assets from companies developing new fossil fuel projects.

The report highlights a systematic loophole in financial institution policies that exclude thermal coal but continue to fund metallurgical coal, which is essential for primary steelmaking. Despite the International Energy Agency's finding that existing mines are sufficient to meet demand through 2050, 118 companies are planning new projects with a total capacity of 406 Mtpa. Between 2016 and June 2023, banks provided over US$557 billion to the 50 largest metallurgical coal developers. The document argues that technological advances in green hydrogen and electric arc furnaces make a phase-out possible by the early 2040s and urges financial institutions to immediately end dedicated financing and insurance for new metallurgical coal projects.

The report highlights a critical loophole in financial sector policies where metallurgical coal is often excluded from coal phase-out commitments. Despite the IEA stating that existing mines can meet demand until 2050, 118 companies are planning new projects with a combined capacity of 406Mtpa. Between 2016 and June 2023, banks provided over $557 billion to 50 major metallurgical coal developers, with Japanese banks accounting for 29% of this support. The document identifies a lack of specific metallurgical coal policies among 100 analyzed financial institutions, with only five banks having such policies. It advocates for a total cessation of financial services for new projects and the adoption of a just transition plan for workers and communities.

The report examines Ecopetrol, Petrobras, YPF, and EP Petroecuador, finding that while some have stated ambitions for unrelated diversification, these efforts are not a priority compared to decarbonizing existing fossil fuel operations. The authors argue that these NOGCs face significant institutional, financial, and technical barriers that limit their capacity to transition away from their core hydrocarbon businesses.

The report argues that technical assistance (TA) from the World Bank Group (WBG) and Asian Development Bank (ADB) creates a 'paradox' by facilitating fossil gas dependency while the institutions claim to align with the Paris Agreement. Between 2016 and August 2023, the WBG allocated nearly $200 million in TA for gas-related sectors across 14 countries, while the ADB committed nearly $11 million from 2016 to 2021. The authors contend that TA has a disproportionate impact on national energy strategies, often locking countries into carbon-intensive infrastructure and creating stranded asset risks. Case studies in Bangladesh, Vietnam, and Pakistan illustrate how TA has been used to prepare LNG projects or gas storage systems rather than accelerating renewable energy transitions. The report recommends that all energy-sector TA be approved at the Board level and redirected toward enhancing Nationally Determined Contributions (NDCs) and renewable energy infrastructure.

The brief, submitted by ClientEarth and The Shareholder Commons, opposes efforts by the National Association of Manufacturers (NAM) to eliminate SEC Rule 14a-8. The authors argue that climate change represents a systemic financial risk that is material to all businesses, affecting them through physical damages, transition risks, and litigation. They contend that a divergence of interests exists between corporate managers, who may prioritize short-term gains, and diversified shareholders, who are exposed to broader economic instability (beta risk). The brief asserts that Rule 14a-8 is a critical tool for investor stewardship, allowing shareholders to hold management accountable and mitigate catastrophic systemic risks.

The Canadian Climate Institute proposes a four-part policy framework to decarbonize Canada's oil and gas sector while addressing regional fairness. The sector is identified as Canada's largest and fastest-growing source of emissions, contributing 189 Mt of greenhouse gases in 2021 (28% of the national total). To balance climate targets with economic stability, the report recommends stringent methane regulations, targeted public support for carbon capture and storage (CCS), a sector-specific emissions cap, and a government-backed transition investment taxonomy. This approach aims to ensure that oil and gas-producing regions contribute their fair share of reductions while protecting the trade balance and mitigating the risk of stranded assets as global demand for fossil fuels declines.

ClientEarth urges the FCA to implement mandatory sustainability disclosures at the point of listing, aligned with TCFD and ISSB standards, to correct information asymmetry and protect investors from climate-related financial risks. The document specifically advocates for a new 'atmospheric viability' test for fossil fuel companies' reserves in Competent Person's Reports to address stranded asset risks. Additionally, it recommends extending these requirements to the debt market and introducing stricter, contractually binding disclosures for labelled bonds to prevent greenwashing and mispricing of climate risk.

The report estimates that annual climate finance needs will rise to USD 6.2 trillion by 2030 and USD 7.3 trillion by 2050 to achieve Net Zero, while tracked global finance only surpassed USD 1 trillion for the first time in 2022. Transport and energy systems represent the largest investment needs, requiring at least USD 3.2 trillion and USD 2.1 trillion annually, respectively. The study highlights a significant disparity in finance distribution, with 75% of global spend concentrated in East Asia and the Pacific, Europe, and North America. It argues that public finance must act as a catalyst to mobilize private capital, particularly in developing economies where the cost of capital is significantly higher. While private sector commitments are growing—such as the 30 largest banks pledging USD 870 billion annually—the report notes that asset managers and owners have been slower to set quantifiable targets. Key recommendations include aligning stakeholder policies, supporting non-commercially viable technologies like CCUS and green hydrogen, and implementing just transition frameworks.

The report finds that oil- and gas-fired power plants in development increased by 13% in the last year to 783 GW, with Asia accounting for nearly two-thirds of this capacity. If built, these projects would cost an estimated US$611 billion and generate 41,239 million tonnes of CO2e lifetime emissions. The analysis highlights that China leads global development, while the United States possesses the largest existing capacity. The report further challenges the reliability of fossil fuels during extreme weather and notes that renewables with storage are now cheaper than gas-fired power in many regions, including China.