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The report provides a detailed analysis of the implementation of Carbon Border Adjustment Mechanisms (CBAMs) in the EU, UK, and Australia. It examines the transition from free allocations to border adjustments in the EU, the UK's planned 2027 launch, and Australia's ongoing carbon leakage review. Additionally, it tracks the evolution of multilateral discussions at the WTO, noting a shift from general concerns about protectionism toward specific technical cooperation and interoperability.

The report provides a comprehensive overview of carbon border adjustment mechanisms (CBAMs) as tools to prevent carbon leakage. It details the operational timelines and design features of the EU and UK mechanisms, analyzes a proposed Australian framework, and tracks legislative efforts in the US, Canada, and Taiwan. Additionally, it examines the evolving nature of CBAM discussions at the WTO, noting a shift from general concern toward specific design cooperation and interoperability.

Reclaim Finance examines the 2020 consultation responses from Crédit Agricole, BNP Paribas, BPCE, Société Générale, and the French Banking Federation (FBF) regarding the Corporate Sustainability Reporting Directive (CSRD). The analysis finds that these five financial actors were unanimous in their support for replacing the Non-Financial Reporting Directive (NFRD) with a common, mandatory reporting standard to improve data comparability and reliability. The banks specifically advocated for the inclusion of climate transition plans, the application of 'double materiality,' and the extraterritorial application of the rules to non-EU companies operating in Europe. The report contrasts these historical positions with more recent criticisms, such as the CEO of BNP Paribas describing the CSRD as a "bureaucratic delusion."

The document argues that while the energy transition is accelerating, current efforts are insufficient to limit warming to 1.5°C, and the shift in energy demand will fundamentally reshape global trade and geopolitics. It highlights a significant investment gap, noting that emerging markets and developing economies outside China account for only about 15% of global clean energy spending. The report identifies several trade-related barriers, including protectionist tariffs on electric vehicles, divergent technical standards, and the persistence of fossil fuel subsidies, which reached $7 trillion globally in 2023. It specifically warns that Border Carbon Adjustment Mechanisms (BCAs) and Investor-State Dispute Settlement (ISDS) provisions in investment treaties may disproportionately burden developing nations. To achieve an equitable transition, the authors recommend reforming WTO subsidy rules, increasing financial support for local value addition in critical minerals, and coordinating the phase-out of fossil fuel production.

The We Mean Business Coalition's Corporate Climate Policy Engagement Reporting Template guides companies through establishing a baseline, analyzing advocacy activities, and publicly disclosing their alignment with 1.5°C climate goals. It emphasizes the need for board oversight, cross-departmental collaboration, and the management of indirect advocacy through trade associations to ensure corporate lobbying supports science-aligned climate policy pathways.

The document examines the uncertainty surrounding the second Trump administration's approach to foreign aid and global security. It highlights a 90-day freeze on all U.S. foreign assistance and the withdrawal from the Paris Climate Agreement and the World Health Organization. The text notes a divide in perception, where populations in BRICS nations are more positive about Trump's presidency for global peace compared to those in the EU and UK, despite an overall increase in global conflicts and expansionist rhetoric regarding territories like Greenland and Panama.

The French Financial Markets Authority (AMF) is adopting ESMA guidelines on ESG fund naming starting May 21, 2025, but Reclaim Finance argues these rules create uneven requirements that risk 'transition-washing'. The document notes a 24% decrease in 'Article 9' funds under SFDR due to reclassification to 'Article 8' to avoid sanctions. To combat greenwashing, the author proposes that the 2025 SFDR revision should mandate the exclusion of companies developing new fossil fuel projects for all funds claiming environmental or social objectives.

Reclaim Finance critiques the new ESMA guidelines adopted by the AMF for ESG fund naming, arguing they create unequal requirements that risk 'transitionwashing'. The organization urges that the 2025 revision of the Sustainable Finance Disclosure Regulation (SFDR) must mandate the exclusion of companies involved in fossil fuel expansion to ensure genuine sustainability and protect investors from misleading claims.

A joint letter from various NGOs urging the European Commission to ensure the EUDR benchmarking process is based on objective risk criteria rather than political factors or sanctions.

More than 40 civil society organizations and 20 experts have called on the European Central Bank (ECB) to update its climate and nature approach. The signatories argue that current monetary policy, including high interest rates and the phasing out of asset purchases, has hampered green investment. They demand a new Climate Roadmap for the 2025 monetary policy strategy assessment, specifically recommending the update of the collateral framework, the tilting of securities in asset portfolios, and the introduction of green lending facilities to align the ECB's mandate with the EU's green transition goals.

The World Association for Christian Communication (WACC) asserts that the right to freedom of expression is insufficient to protect democratic debate because it does not address the power imbalances created by Big Tech. The statement claims that major tech companies—including Amazon, Meta, X, and Alphabet—have aligned themselves with the U.S. far-right, prioritizing profit over the public good and supporting agendas that deny climate change. WACC calls for a rights-based communication framework, the involvement of more movements in the fight for democratic tech, and the support of state blocs like the EU or African Union to create non-profit-driven technology and media ecosystems.

Carbon Market Watch opposes efforts by politicians in countries like Poland and Czechia to reverse or delay the EU's ETS2 carbon pricing system for buildings and road transport. The organization argues that the ETS2 is critical for achieving a 42% emission reduction in these sectors by 2030 and a 55% net reduction overall by 2050. It highlights that the system includes social protections, such as the €86 billion Social Climate Fund and a €45 per tonne soft price cap, to protect vulnerable populations. The document warns that weakening the system would increase future economic costs, exacerbate the climate crisis, and undermine the EU's energy sovereignty.

The FAO and IISD have developed an early-stage screening tool for agribusinesses to assess the socio-economic and environmental impacts of potential investments. The tool ensures alignment with the CFS-RAI and international standards, covering areas such as land rights, food security, and environmental sustainability, while aiding compliance with EU deforestation and human rights legislation.

A coalition of NGOs and unions, including Reclaim Finance, condemns the French government's reported plan to advocate for the indefinite postponement of the EU Corporate Sustainability Due Diligence Directive (CSDDD) and the raising of its application thresholds. The authors argue that these moves, aligned with business lobby interests, would exclude nearly 70% of targeted companies and undermine European climate and social justice goals.

A joint call from over 130 signatories requesting an EU Action Plan for Plant-Based Foods by 2026 to improve health, environmental resilience, and strategic autonomy in protein production.

Since the launch of the European Green Deal in 2019, the EU has seen a significant transformation of its power sector, with renewables increasing from 34% to 47% of the electricity mix by 2024. This shift was primarily driven by wind and solar, which together increased their share from 17% to 29%. This transition reduced the emissions intensity of EU electricity generation by 26% and avoided €59 billion in fossil fuel import costs. While coal use has dropped from 16% to under 10% of the mix, and gas power has declined from 20% to 16%, the EU still faces challenges with Russian gas imports, which accounted for 14% of total gas consumption in 2024.

In 2024, the EU power sector saw fossil fuel generation fall to its lowest level in over forty years, reaching 793 TWh. This decline was driven primarily by record solar growth, which saw generation increase by 22% to 304 TWh, overtaking coal for the first time. Renewables accounted for 47% of EU power generation, while clean sources reached a record 71% of the mix. Despite a small 1% increase in total EU power demand and increased exports to the UK and Ukraine, coal and gas generation fell by 16% and 6% respectively, leading to a 9% drop in power sector emissions to an estimated 585 million tonnes of CO2.

In 2024, the EU's electricity transition continued with solar power overtaking coal for the first time and gas generation declining for the fifth consecutive year. Renewables reached a 47% share of the power sector in 2024, up from 34% in 2019, while fossil fuels dropped to a historic low of 29%. This shift reduced power sector emissions to less than half of their 2007 peak and avoided €59 billion in fossil fuel imports since the start of the European Green Deal. Despite this momentum, the report argues that wind power deployment and grid infrastructure must accelerate to meet 2030 targets.

In 2024, the EU experienced record growth in solar generation and capacity, with all member states seeing increases. However, the rapid expansion has led to more frequent zero or negative power prices and wider intraday price spreads. To manage this and maintain the trajectory toward 2030 targets, the report advocates for the accelerated rollout of clean flexibility tools, specifically battery storage, smart electrification, and grid modernization.

The briefing highlights that iron production accounts for over 80% of steel supply chain emissions and argues that a common 'near-zero emissions' iron definition is necessary to guide investment and trade. It proposes a threshold of 350 kgCO2e/t iron to exclude coal-based production and suggests that hydrogen-based direct reduction (DRI) is the primary commercial pathway to achieve this. To overcome supply chain complexities, the document advocates for direct procurement and 'book and claim' systems, announcing that RMI will design and test a climate-credible book and claim system for iron and steel in 2025.