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10 Project Finance Lessons from Europe’s Geothermal-Lithium Lighthouse
The Lionheart project in Germany's Upper Rhine Valley secured a €2.2 billion financing package in December 2025 to integrate geothermal power, heat, and lithium extraction. To attract investors amid market volatility, the project employed ten specific financial and operational de-risking measures, including a conservative 60:40 debt-to-equity ratio, government equity from KfW, and a diversified revenue model selling lithium, power, and heat. The project aims to produce lithium hydroxide monohydrate for 500,000 EV batteries and heat for 90,000 homes annually by 2028.
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Document type: Case study
People Exposed to Climate Change: December 2025-February 2026
Between December 2025 and February 2026, climate change significantly boosted global temperatures, with over one in six people experiencing strong climate influence daily. Nearly 228 million people faced 30 or more risky heat days added by climate change, with 81% of these individuals residing in Africa. The analysis highlights that in 45 countries, all risky heat days during this period were driven by climate change, and 124 countries saw the average person experience at least 30 days of strong climate influence (CSI level 2 or higher).
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Document type: Report
Energy Storage Signals Shift to Renewable Grids
The document highlights the growing role of energy storage in supporting the global transition to renewable energy, noting that combined wind and solar capacity has reached 3,222 GWac. It identifies China, the U.S., and the EU as leaders in total capacity, while emphasizing the trend of colocating storage with renewables in emerging markets like Chile, Türkiye, Australia, and Nigeria to manage curtailment and grid instability. Specifically, Chile is identified as the leader in Latin America, utilizing BESS to address transmission constraints and target 80% renewable electricity generation by 2030.
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Document type: Briefing
Plazos de ejecución más largos: Aumento de la complejidad en el desarrollo de campos de petróleo y gas
Analysis of the Global Oil and Gas Extraction Tracker (GOGET) reveals that the time from discovery to production for new oil and gas fields has increased significantly, averaging 15.1 years for fields starting in 2025 compared to 4.9 years between 1960 and 1980. This trend is driven by the depletion of easy-to-access reserves, forcing companies toward technically complex '20K' high-pressure reservoirs, deepwater projects, and 'acid gas' fields. Additional delays stem from stricter environmental regulations, such as the UK's 2025 requirement to include Scope 3 emissions in impact assessments, and ecological risks in protected areas. The report argues that these long lead times increase the risk of creating stranded assets and conflict with the 1.5 °C warming limit, suggesting that capital should be redirected toward renewable energy.
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Document type: Briefing
LICENSED TO EXPLOIT: COMMUNITY AND LABOUR EXPLOITATION BY CHINESE-OWNED COMPANIES IN NIGERIA’S EXTRACTIVES SECTOR
The report documents systemic exploitation by Chinese-owned extractive companies in Nasarawa State, Nigeria. Avatar New Energy Materials Company Limited is found to be in flagrant violation of the Nigerian Labour Act and ILO Convention 98, employing a coercive labour regime with 12-hour shifts, no breaks, and a strict prohibition on unionisation. Hong Tai Quarry Company Limited is accused of failing to implement a 2021 Memorandum of Understanding (MoU) with the Gurku chiefdom, neglecting promised social investments and causing environmental degradation through blasting and dust pollution. Additionally, the report identifies economically imbalanced land lease agreements by Hong Tai Quarry that result in the economic dispossession of landowners through low, inflation-eroded compensation and a lack of environmental remediation clauses.
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Document type: Research paper
A Measure of Care
The report analyzes the systemic invisibility of the care economy in national statistics, specifically how GDP overlooks unpaid care work disproportionately performed by women. It reviews five primary measurement approaches: time-use surveys, economic valuation (opportunity and replacement costs), policy indices/scorecards, quality-of-life metrics, and household satellite accounts. Using case studies from Canada, Bangladesh, the UK, and Africa, the document demonstrates that unpaid care can represent a significant portion of national wealth—for example, estimated at 25% to 37% of Canada's GDP in 2021. The report concludes that moving beyond GDP requires a cohesive, integrated system of measurement to recognize care as a structural pillar of development and a fundamental investment in human capabilities.
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Document type: Report
EL ROL DEL ALMACENAMIENTO ENERGÉTICO EN AMÉRICA LATINA: avances y retos en la región
The document examines energy storage as a structural resource for flexibility in Latin American electrical systems facing high penetration of variable renewable energy. It highlights that while Chile leads in battery deployment to manage curtailment, other countries like Colombia, Peru, and Brazil are at earlier stages, often focusing on reliability or specific industrial uses. The report argues that the primary barriers to deployment are institutional and regulatory rather than technological, and recommends shifting from a capacity-focused approach to a functional one that prioritizes specific flexibility needs.
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Document type: Policy brief
Prospective wind and utility-scale solar pipeline reached almost 5 TW in 2025
The global pipeline for wind and utility-scale solar projects grew by 11% in 2025, reaching 4.9 TW. While China and India lead in construction and prospective capacity, G7 nations show stagnant growth in their pipelines, creating a gap in meeting the COP28 goal to triple renewable energy capacity by 2030.
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Document type: Report
International Conversations on Trade and Climate: From the World Trade Organization to the United Nations Framework Convention on Climate Change
The research paper examines the transition of trade-related climate measures from abstract policy debates to concrete implementation between 2025 and early 2026. It highlights the role of the European Union's Carbon Border Adjustment Mechanism (CBAM) and the EU Deforestation Regulation as primary drivers of international tension. The authors analyze discussions within the WTO's Committee on Trade and Environment (CTE) and the Trade and Environmental Sustainability Structured Discussions (TESSD), as well as new initiatives established at COP 30 in Brazil, including the 'Mutirão' technical dialogues and the Integrated Forum on Climate Change and Trade (IFCCT). The paper argues that MC14 serves as a critical moment for consolidating these debates around transparency, interoperability, and development support.
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Document type: Research paper
Critical minerals as an observatory for evolving forms of trade cooperation
The document analyzes the tension between existing WTO trade rules and the needs of countries to secure critical minerals for the energy transition. It argues that current 'critical minerals diplomacy'—characterized by non-binding sectoral partnerships among developed nations—creates power asymmetries and 'selective delegalization' that disadvantage producer economies. The author suggests that the WTO could serve as a more neutral platform for a plurilateral critical minerals initiative or a code of best practices to balance supply-side industrialization goals with demand-side security needs.
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Document type: Research paper
Electronic Commerce at the World Trade Organization
The document analyzes the tension between the multilateral Work Programme on Electronic Commerce (WPEC) and the plurilateral Joint Statement Initiative (JSI) on E-Commerce. It highlights the conflict over the moratorium on customs duties for electronic transmissions, where developing countries fear revenue loss and policy constraints, while other members push for a permanent ban on such duties. The author outlines the stakes for MC14, including the potential incorporation of the JSI Agreement into the WTO framework and the future of the WPEC.
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Document type: Research paper
COMMENT ON THE CONSULTATION ON THE INTENTION TO PRESCRIBE MINIMUM INFORMATION REQUIREMENTS FOR BASELINE MONITORING FOR ONSHORE EXPLORATION OPERATIONS PUBLISHED ON 7 NOVEMBER 2025 IN GOVERNMENT GAZETTE NO. 6811 UNDER GOVERNMENT NOTICE NO. 53637
The Centre for Environmental Rights (CER) and Natural Justice (NJ) argue that the proposed MIR for onshore exploration in South Africa lacks the specificity, enforceable standards, and climate integration necessary to protect environmental integrity and community interests. They recommend mandatory greenhouse gas accounting, a regional cumulative impact assessment, and a comprehensive public health baseline. Technical experts in the document highlight critical gaps in groundwater monitoring, the absence of a risk-based 'traffic light protocol' for induced seismicity, and the need for transparent chemical disclosure of fracturing fluids. The authors ultimately argue that hydraulic fracturing is incompatible with South Africa's climate commitments and water scarcity, suggesting it should be prohibited.
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Document type: Statement
No time to lose: Liberal democracies can win the cognitive and hybrid war against authoritarians
The briefing asserts that authoritarian regimes, specifically Russia, China, and Iran, are using hybrid warfare to undermine trust in democratic institutions and divide liberal societies. It argues that current government responses are too siloed and reactive, failing to deliver results. To counter this, the author proposes three strategic pillars: establishing a comprehensive counter-hybrid doctrine that includes asymmetric and offensive capabilities, reorganizing government structures to enable holistic coordination and multi-stakeholder coalitions, and prioritizing strategic communications to outcompete authoritarian narratives both domestically and internationally.
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Document type: Briefing
Respiratory PPE as Day Zero Defense Against Biothreats
The document argues that biological threats can rapidly degrade military readiness, as seen during the COVID-19 pandemic. It evaluates three types of respiratory PPE—Filtering Facepiece Respirators (FFRs), Elastomeric Half-Mask Respirators (EHMRs), and Powered Air-Purifying Respirators (PAPRs)—based on protection, source control, wearability, and logistics. The author recommends a tiered approach: government-managed stockpiles of EHMRs for baseline protection, vendor-managed inventories of FFRs for high-volume use, and investment in flexible surge manufacturing capacity.
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Document type: Briefing
재생에너지로 한국의 국가 안보 보장
The report argues that South Korea's heavy reliance on imported fossil fuels (84% of total energy supply) creates critical vulnerabilities to geopolitical conflicts in the Strait of Hormuz, Malacca Strait, and South China Sea, as well as climate-driven infrastructure risks. It posits that a rapid shift to renewables can mitigate these risks, reduce financial burdens associated with energy price volatility, and support the energy needs of advanced AI and defense systems. While acknowledging challenges such as China's dominance in critical mineral supply chains and cybersecurity risks associated with digitalized grids, the document concludes these are manageable through battery storage innovation, grid modernization, and supply chain diversification. It recommends integrating renewable energy goals explicitly into national security planning and the 12th Basic Plan for Electricity Supply and Demand.
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Document type: Report
Protecting Korea's National Security with Renewable Energy
The report argues that South Korea's heavy reliance on fossil fuel imports—approximately 84% of its total energy supply—creates significant national security vulnerabilities due to geopolitical tensions and climate risks. It posits that transitioning to renewable energy would reduce exposure to fragile maritime chokepoints, lower fiscal strain, and improve military readiness. While acknowledging challenges such as China's dominance in critical mineral supply chains and cybersecurity risks from digitization, the report concludes these are manageable compared to the structural risks of fossil fuel dependence. It recommends integrating renewable energy targets into national security planning and leveraging the newly created Ministry of Climate, Energy and Environment to coordinate a whole-of-government approach to energy resilience.
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Document type: Report
The AI Climate Hoax: Behind the Curtain of How Big Tech Greenwashes Impacts
The report argues that the AI industry uses a 'bait-and-switch' greenwashing tactic, where the proven climate benefits of 'traditional' AI (such as predictive models) are used to justify the massive energy and water consumption of 'consumer generative AI' (such as ChatGPT). An analysis of 154 climate benefit claims found that 97% related to traditional AI, while only 3% related to consumer generative AI, with no evidence found that the latter leads to substantial emissions reductions. Furthermore, the report finds that evidence for these benefits is generally weak, with 36% of claims citing no evidence and only 26% citing published academic research. This narrative masks the immediate climate impacts of data centre expansion, which the report states is boosting demand for fossil fuels and risking the ability of regions like Ireland and Australia to meet carbon targets.
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Document type: Report
Clean Security of Supply in Europe: Models for Market-Aligned Contracting and Procurement
The report argues that European security of supply planning and clean procurement policies have been uncoordinated, often resulting in capacity mechanisms that favor fossil fuels and contracts that distort short-term market signals. It proposes a shift toward 'market-aligned' contracting—such as index REC structures—and co-optimized multi-product markets that separately value energy, capacity, and clean attributes to attract clean investment without sacrificing operational efficiency.
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Document type: Report
copy-for-spanish-icj-ao_litigation-notes-digest_feb2026-2.0-fc3f7f8fe10f06a5.pdf
The document translates the ICJ's 2025 Advisory Opinion on climate change into practical legal tools for climate litigation. It details State obligations under international treaties (UNFCCC, Paris Agreement) and customary law, emphasizing a 'rigorous' due diligence standard to limit global warming to 1.5°C. The guide covers specific litigation areas including government framework cases, adaptation, reparations, the right to a healthy environment, corporate conduct, climate finance, speculative interventions (like geoengineering), and regulatory backsliding, providing key quotes and illustrative case examples for each.
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Document type: Guide
ICJ AO Litigation Notes Digest February 2026 Litigation Note on Challenging Speculative or Harmful Climate Interventions and Offset-Based Climate Mitigation Measures
The document analyzes the ICJ's advisory opinion to argue that States must prioritize reducing greenhouse gas emissions at the source over speculative technologies like geoengineering and carbon offsets. It outlines how the ICJ's standards of 'stringent due diligence' and the 'precautionary principle' can be used in litigation to hold States and corporations accountable for ineffective climate strategies that delay the phase-out of fossil fuels.
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Document type: Briefing