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Reclaim Finance criticizes the Council of the European Union for proposing that "transition" funds under the SFDR be available to oil and gas companies, provided they meet a 20% EU Taxonomy capex threshold and set Scope 1 and 2 targets. The author contends this position, influenced by lobbying from entities like TotalEnergies and the French government, ignores Scope 3 emissions and allows continued fossil fuel expansion. The document calls on the European Parliament to exclude companies developing new oil and gas projects from such funds to ensure the credibility of sustainable finance.

A research paper by CPI/PUC-Rio reveals that the public support for Brazilian rural credit between 2023 and 2025 averaged R$ 59.7 billion per year, nearly five times the commonly reported cost of R$ 12.5 billion for interest rate equalization. The study identifies four primary support mechanisms: economic subsidies, tax benefits (the largest component), public funding sources, and debt renegotiations. It highlights a lack of focalization, with only 31.9% of credit linked to social, environmental, or climate goals, and a significant transparency gap, as 65.2% of contracted volumes lack essential public monitoring data in the Sicor system.

The report finds that between 2019 and 2025, 240 global banks provided US$590.8 billion to the top fifteen petrochemical companies, with a high concentration of funding from US, Japanese, Chinese, German, and UK institutions. Institutional investors held US$146.6 billion in exposure to these companies as of September 2025, dominated by US-based asset managers like Vanguard and BlackRock. The document argues that this financing persists despite structural risks such as overcapacity and collapsing profit margins, and often contradicts the public climate commitments of the financial institutions involved.

The upper Acre River basin, shared by Bolivia, Brazil, and Peru, faces increasing climate extremes, including more frequent floods and severe droughts, alongside significant deforestation. While regional frameworks like the Amazon Cooperation Treaty exist, the report finds a gap between high-level agreements and local implementation due to differing national legal frameworks and a lack of formal basin committees. The document analyzes recent governance efforts—such as Bolivia's Strategic Water Planning Strategy (EPHIC), Brazil's state-level management, and Peru's progress toward creating a Basin Water Resources Council—and recommends consolidating existing local platforms through voluntary coordination and shared data protocols rather than creating new formal structures.

The report outlines how the port sector can transition from causing ocean degradation to enabling regeneration using the AR3T (Avoid, Reduce, Restore and Regenerate, Transform) framework. It identifies key pressures ports exert on marine ecosystems—such as seabed disturbance, pollution, and invasive species—and provides specific, evidence-based actions across the port lifecycle, from siting and design to operations and decommissioning. The document emphasizes the importance of nature-inclusive design, ecosystem-based marine spatial planning, and the integration of natural capital into financial accounting to achieve a Sustainable Blue Economy.

The report analyzes Malawi's development futures, noting that while a 'Combined scenario' shows GDP per capita 35% higher than the 'Current Path' by 2043, this is insufficient to reach lower-middle-income status by 2030. It highlights persistent gaps in urbanization, industrialization, and healthcare, while emphasizing the critical impact of climate variability on rain-fed agriculture. Key recommendations include expanding Special Economic Zones, adopting climate-smart agriculture, and implementing nature-based solutions for flood prevention.

The report assesses the ESG practices of Chinese companies in the critical minerals sector, noting that while there has been progress in risk management and due diligence, significant gaps persist when compared to international benchmarks. Using Indonesia's nickel industry as a case study, it argues that aligning Chinese standards with global frameworks is essential for supply chain credibility and market access. The document recommends that the Chinese government accelerate the alignment of mining ESG standards with global benchmarks, introduce financial incentives for verifiable ESG performance, and establish bilateral technical cooperation and research centres in resource-rich countries.

The report finds that Pronaf exhibits a regressive distribution of credit, where the most capitalized producers receive the bulk of resources while the most vulnerable are excluded. It highlights that 79% of family farmers did not access Pronaf credit in 2024/25, and resources are heavily concentrated in the South and Southeast regions and in conventional crops like soy, corn, and coffee. The document argues that lines for bioeconomy and agroecology remain marginal, often representing less than 1% of total credit. It emphasizes the critical but underfunded role of Technical Assistance and Rural Extension (ATER), which received less than 0.3% of the total family agriculture budget in the 2025/26 Plan Safra. To address these failures, the report recommends establishing minimum allocation targets for smallholders and the North/Northeast regions, updating outdated fiscal modules for eligibility, integrating the Brazilian Sustainable Taxonomy, and blocking subsidized credit for properties with recent deforestation.

Africa has seen infrastructure improvements, particularly in sub-Saharan Africa, but continues to face a substantial deficit driven by population growth and urbanisation. Financing is characterized by a tension between concessional Western multilateral loans and more commercial, opaque Chinese lending via the Belt and Road Initiative. Recent efforts, such as the PIDA framework and the 2025 Africa Infrastructure Financing Summit, aim to align investment with pan-African priorities and global sustainability goals, including a transition toward renewables and electric mobility.

The report identifies the livestock sector as a primary economic pillar and a major source of methane emissions in Paraguay. It argues that increasing productivity through genetic improvement, regenerative pasture management, and silvopastoral systems can simultaneously reduce emission intensity and increase profitability. The document highlights the need for integrated public policies, innovative green financing, and better local data to meet Paraguay's NDC 3.0 goals.

The report examines the ESG frameworks of Chinese mining and processing companies, contrasting domestic voluntary standards with international benchmarks like IRMA 2.0 and RRA 3.0. It finds that while Chinese standards are increasingly aligned with international environmental norms, significant gaps remain in social dimensions, particularly regarding Indigenous Peoples' rights and community engagement. Using Indonesia's nickel sector as a case study, the study highlights challenges such as duplicative audits, tensions between transparency and Chinese data security laws, and the transfer of ESG risks from downstream buyers to suppliers. The report recommends aligning Chinese standards with global benchmarks, introducing financial incentives for ESG performance, and establishing bilateral technical cooperation with mineral-rich countries.

The Finance for Nature Positive (FfNP) project aims to bridge the gap in harmonized definitions and guidance for private financial institutions investing in biodiversity. Led by the Finance for Biodiversity (FfB) Foundation and WWF-US, the project will create a stakeholder-driven framework across four pillars: mainstream companies, solution providers, real assets, and sovereign debt. Key outputs include implementation materials such as case studies and country profiles for GEF-recipient countries, and a peer-reviewed scientific article. The project targets 600 beneficiaries from the finance sector and seeks to catalyze increased financial flows toward nature-positive outcomes, aligning with Target 19 of the Kunming-Montreal Global Biodiversity Framework.

The document argues that the DNSH principle should be a binding eligibility requirement for EU funding rather than a general guideline, ensuring that no activity funded by the EU budget causes significant harm to any of the six environmental objectives. It calls for a strict interpretation of derogations, the creation of an explicit exclusion list—specifically including fossil fuels—and the implementation of transparent, independent assessment procedures to prevent the 'watering down' of environmental standards.

The document describes the methodology for a tool that catalogs sustainable financial instruments in Brazil, including public programs, constitutional funds, and blended finance initiatives. It details the inclusion criteria, the classification structure for beneficiaries based on annual gross revenue, and provides a technical glossary of financial and environmental terms used in the database.

The Climate Bonds Green Bond Dataset (GBD) applies a science-based, independent screening process to labelled green bonds to determine their environmental credibility. Rather than relying on issuer claims or regulatory compliance, the GBD uses the Climate Bonds Criteria and an internal screening library to classify bonds as 'Aligned', 'Not aligned', or 'Pending'. The methodology specifically excludes activities that risk 'carbon lock-in', such as fossil fuel infrastructure, and treats non-alignment or data gaps as diagnostic signals of market shortcomings.

The 12th Meeting of the San Giorgio Group (SGG12) focused on moving climate finance from ideas to large-scale delivery, emphasizing system coherence and country-level impact. The group highlighted that annual climate finance now exceeds USD 2 trillion, driven by renewable energy and transport electrification. Key priorities include reforming Multilateral Development Banks (MDBs), scaling guarantees and catalytic equity, and addressing the high cost of capital in developing countries. The agenda also calls for 'radical localism' to center people in the climate narrative and suggests leveraging artificial intelligence and underutilized public financing institutions, such as export credit agencies, to accelerate the energy transition.

The European Central Bank (ECB) will introduce a 'climate factor' on 15 June 2026 to adjust the valuation of marketable assets issued by non-financial corporations used as collateral. The factor penalizes assets tied to high-emission activities based on sector-specific stressors, issuer-specific climate scores, and asset maturity. Reclaim Finance argues the measure is a positive step but suffers from transparency gaps and a flawed annual calculation cycle that may misrepresent risks for short-term assets. The briefing recommends making climate factors public, automating calculations, and extending the framework to credit claims and other asset classes to ensure comprehensive integration of climate risks into monetary policy.

A coalition of 133 organisations, including Reclaim Finance and WWF, argues that the European Commission's November proposal for the Sustainable Finance Disclosure Regulation (SFDR) is insufficient because it limits fossil fuel exclusions to only two of the three sustainable product categories. The signatories contend that allowing any ESG-labelled funds to support fossil fuel expansion would mislead investors, contradict EU climate objectives, and undermine the credibility of the SFDR framework.

The report identifies China as the world's largest methane emitter and explores how sustainable finance can bridge the investment gap for abatement. It highlights the 2025 NDC update as a critical window for action and recommends the integration of quantitative methane targets, expanded green taxonomies, and the inclusion of methane in the national emissions trading system to mobilise the estimated USD 7.7 billion in annual investment needed.

The report identifies China as the world's largest methane emitter and highlights a significant funding gap, estimating a domestic need of approximately 7.7 billion USD annually. While China has updated its Nationally Determined Contributions (NDC) to include all greenhouse gases, the report argues that a lack of quantitative targets, detailed technical standards, and integrated MRV systems hinders large-scale private investment. It suggests expanding the Green Finance Support Project Catalogue, integrating methane into the national carbon trading system, and developing diverse financial instruments—such as KPI-linked bonds and equity funds—to accelerate the deployment of abatement technologies in coal mines, oil and gas systems, and livestock and rice farming.