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Eighteen civil society organizations are calling on Crédit Agricole CIB to cease its role as a financial advisor for the Papua LNG project, led by TotalEnergies, ExxonMobil, Santos, and JX Nippon. The letter argues that the project, which includes 9 offshore wells and a 320km pipeline, would increase Papua New Guinea's energy and industry emissions by over 7% and generate 220 million tons of CO2 equivalent in scope 3 emissions. The authors highlight risks to frontline communities in Gulf Province, potential stranded assets due to a projected 72% decline in global gas demand by 2050, and a lack of guaranteed sales agreements. The organizations demand that Crédit Agricole withdraw from the project, end financial services for new gas fields and LNG terminals, and condition services to TotalEnergies on a commitment to stop new upstream and midstream oil and gas projects.

The report argues that the coal sector is not aligned with 1.5°C targets and poses significant financial risks, including over US$1.4 trillion in potential stranded assets. It recommends that banks immediately cease financing new coal projects and implement a timed escalation strategy to exit coal exposure by 2030 in OECD and European countries, and by 2040 worldwide. Key requirements for coal companies include the adoption of public, asset-by-asset phase-out plans and just transition strategies for workers and the environment.

The Canadian Climate Institute's analysis indicates that CCS projects in the oilsands sector are economically viable under current and proposed federal and provincial policies, including carbon pricing and investment tax credits. The study finds that these projects can generate substantial private returns, suggesting that additional public subsidies beyond those already announced are unnecessary and could lead to excessive corporate profits. While CCS can improve carbon competitiveness and reduce the risk of stranded assets in a declining global oil market, it does not eliminate long-term transition risks associated with the Paris Agreement goals.

The author argues that Canada's commitments to phase out fossil fuel subsidies conflict with growing public funding for emission reduction technologies like carbon capture, utilization and storage (CCUS). To manage the risk of stranded assets and inefficient spending, the paper suggests a rigorous framework based on net-zero consistency, economic value relative to alternatives, community vulnerability, and the risk level of the policy tool used. It emphasizes that the burden of proof for public benefit should lie with the companies seeking support.

The Canadian Climate Institute argues that for Canada to meet its net-zero goals, the oil and gas sector requires transformational investment. It proposes a two-tier requirement system for the federal government's Sustainable Finance Action Council (SFAC) climate investment taxonomy: company-level net-zero targets and project-level emissions-intensity benchmarks. Specifically, it argues that "transition" labels should only apply to projects that reduce emissions from existing production, as 1.5°C pathways necessitate "no investments in new production."

The report finds that while there is a growing shift toward electric arc furnace (EAF) steelmaking, the transition is too slow to meet IEA Net Zero by 2050 targets. Asia, particularly India and China, remains the hub for new coal-based blast furnace-basic oxygen furnace (BF-BOF) capacity. This continued investment in carbon-intensive technology, alongside persistent global overcapacity, creates a significant stranded asset risk estimated up to US$ 554 billion.

The document establishes a consensus across multiple energy models, including the IEA NZE and IPCC pathways, that no new oil and gas fields should be developed to meet the 1.5 target. It argues that oil and gas production must decline by at least 65% by 2050 from 2020 levels. The brief asserts that the energy crisis in Europe caused by Russia's invasion of Ukraine does not justify new fossil fuel production, as existing capacity and demand reduction can meet needs. It highlights a significant investment gap in renewables, noting that annual solar and wind investments must reach USD 830 billion by 2030 to bridge a USD 450 billion annual gap. Finally, it recommends that financial institutions cease financing new oil and gas projects and push for the phase-out of fossil fuel subsidies.

Vietnam's PDP8 aims to peak coal capacity at 30 GW by 2030 and reach net zero by 2050, but the briefing argues that all coal projects not yet in construction must be cancelled to align with the JETP agreement. While Vietnam is leading global coal project cancellations in 2023, concerns remain regarding the use of experimental fuels for plant conversion and the government's crackdown on civil society leaders essential for a just transition.

The report examines the economic vulnerability of Canada's oil and gas sector due to declining global demand and increasing price volatility. It argues that a 'business-as-usual' approach risks stranded assets and severe socioeconomic disruption. Drawing on case studies from Denmark, Germany, Illinois, and Colorado, the authors propose a 'policy trifecta' of ambitious climate targets, managed energy phase-downs, and proactive economic diversification to ensure an equitable transition.

The document asserts that the world is in the midst of a 'renewable revolution' characterized by exponential cost declines and adoption rates for solar, wind, batteries, and electric vehicles. It identifies China as the current leader of this transition, which is sparking a global race to the top. The report claims that global fossil fuel demand peaked in 2019 and will enter terminal decline after 2025. By 2030, the authors predict that renewables will dominate sector sales and be significantly cheaper than fossil fuel alternatives, creating a 'renewable supercycle' for investors and a necessity for petrostates to reform. The report also highlights the potential for the Global South to leapfrog old technologies and the ability of renewables to drastically reduce air pollution deaths and environmental pressure compared to fossil fuels.

The document is a petition addressed to Japanese government officials, banks, and the Asian Development Bank (ADB) regarding the Cirebon coal-fired power plant projects in Indonesia. The authors demand the immediate suspension of loan disbursements for Cirebon 2 (1,000 MW) and a responsible, rapid early retirement of Cirebon 1 (660 MW). They argue that these projects have caused severe damage to the livelihoods, health, and culture of local coastal communities, specifically affecting small-scale fishing and salt production. The petition highlights allegations of corruption, noting that a former Cirebon Regent was indicted by the KPK for receiving bribes from Hyundai Engineering and Construction Co., Ltd. and Cirebon Energi Prasarana (CEPR) to expedite permits for Cirebon 2. The authors criticize the use of Corporate Social Responsibility (CSR) as an inadequate solution and call for a 'just' energy transition that includes environmental restoration and genuine community participation, rather than technical fixes like biomass co-firing.

A coalition of 181 organizations calls on G7 leaders to end the promotion of 'false energy transition solutions'—specifically Japan's Green Transformation (GX) policy—and to cease all international public finance for fossil fuels. The statement argues that current G7 commitments are insufficient, citing continued investments in gas and ammonia co-firing in Southeast Asia and Africa, and urges a shift toward renewable energy and fair funding mechanisms for the Global South.

Bangladesh has significantly increased its reliance on imported LNG to meet rising electricity demand as domestic gas reserves decline, but this has left the country vulnerable to global price volatility and supply shocks. This reliance has led to widespread power cuts, industrial losses, and increased electricity costs, while renewable energy growth has stagnated, accounting for only 2% of electricity generation by 2022. The report warns that continued investment in gas infrastructure risks creating stranded assets and exacerbating climate change, to which Bangladesh is highly vulnerable. Specifically, heat stress is projected to cause significant GDP losses and labour productivity declines by 2030. The document argues that scaling up solar and wind power is a cheaper, more reliable alternative that would reduce financial risk and climate vulnerability.

The briefing advocates for a Fossil Fuel Non-Proliferation Treaty based on three pillars: non-proliferation of new fossil fuels, a fair phase-out of existing production, and a global just transition. It positions the treaty as a necessary supply-side complement to the Paris Agreement, arguing that current production plans exceed the 1.5°C carbon budget. The document outlines a business case for support, citing risks such as stranded assets and increased climate litigation, while proposing specific actions for companies, including public advocacy and the implementation of absolute emission reductions.

The briefing advocates for a Fossil Fuel Non-Proliferation Treaty to address the climate crisis by targeting the supply side of fossil fuels. It argues that existing frameworks like the Paris Agreement are insufficient because they focus on emissions rather than production. The proposed treaty would focus on three pillars: non-proliferation of new fuels, an equitable phase-out of existing production, and a global just transition. The document outlines necessary international cooperation, including new coalitions like the Beyond Oil and Gas Alliance (BOGA) and tools like the Global Fossil Fuel Register, while drawing parallels to successful treaties on nuclear weapons and landmines.

The briefing advocates for business support of the Fossil Fuel Non-Proliferation Treaty, asserting that a global mechanism to phase out coal, oil, and gas is essential to avoid overshooting 1.5°C. It highlights that current government production plans exceed 1.5°C limits and that existing reserves alone would result in seven times the emissions allowed by the remaining carbon budget. For businesses, supporting the treaty is presented as a way to reduce physical and transitional risks, unlock renewable energy investment, provide integrity to net zero pledges, and improve corporate reputation among employees and stakeholders.

The Ontario Energy Board (OEB) took the unusual step of rejecting Enbridge Gas's $123.7 million Saint-Laurent Ottawa Nord pipeline project, citing the City of Ottawa's electrification plans and a projected decline in natural gas demand. The document explores how this decision challenges traditional utility business models—where returns are often based on pipeline mileage rather than gas volume—and highlights the risk of 'stranded assets' if new infrastructure is built despite decarbonization goals. It further discusses Enbridge's five-year plan, which advocates for a 'diversified' scenario including low-carbon gas and hydrogen, contrasting this with the City of Ottawa's preference for integrated energy planning to meet climate targets.

The Ontario Energy Board (OEB) denied Enbridge Gas's $123.7-million St. Laurent North pipeline project, citing Ottawa's community electrification plan and reduced future gas demand. This decision highlights a tension between traditional utility business models—which reward infrastructure ownership—and the shift toward net-zero emissions. The case underscores the need for integrated resource planning (IRP) and raises concerns about the risk of stranded assets being passed on to ratepayers as Ontario transitions away from fossil fuels.

A coalition of environmental and social organizations urges G7 nations to cease the promotion and financing of fossil fuel-based technologies, such as ammonia and hydrogen co-firing, in climate-vulnerable developing nations. The statement specifically criticizes Japan's Green Transformation (GX) policy and the continued investment in fossil gas in Southeast Asia, arguing that these 'false solutions' risk stranded assets and undermine the 1.5-degree Celsius Paris Agreement goal.

The report finds that while the world outside China is nearing a 'no new coal' milestone, a massive surge in coal permitting and construction in China is offsetting global progress. In 2022, the global coal fleet grew by 19.5 GW, driven by China, which now accounts for 68% of global capacity under development. While the U.S. and EU continue to retire capacity, the pace of global retirements remains far below the levels required to meet a 1.5C pathway, which would necessitate an average of 117 GW of retirements per year. The report also highlights the role of private finance, noting that most financial institutions' coal policies remain insufficient to align with climate science.