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The document examines the gap between the public's desire for climate action and the reality of their savings often financing fossil fuels. It proposes a systemic shift in the financial sector to make sustainable savings the default and transparent choice, suggesting tools like an 'eco-score' for financial products and the removal of barriers to switching between funds.

The report identifies a critical need to accelerate building renovations in Europe, noting that approximately 97% of the region's building stock requires upgrades to meet 2050 net-zero targets. It argues that while the EU's 'Fit for 55' package and the Energy Performance of Buildings Directive (EPBD) provide a foundation, additional policy interventions are needed to unlock private capital and overcome financial and non-financial barriers. The document details 20 specific policy levers, including the implementation of Minimum Energy Performance Standards (MEPS), the phasing out of fossil-fuel subsidies by 2040, and the adoption of 'Building Renovation Passports'. It emphasizes the role of green bonds and mortgages, suggesting a voluntary EU-wide definition for green mortgages to improve data collection and risk management. The report also advocates for the electrification of heating via heat pumps over hydrogen blending and highlights the importance of addressing 'Whole Life Carbon' (WLC) in construction.

The paper analyzes the financing gap in India's iron and steel sector, which is the country's largest industrial GHG emitter. It highlights a risk of carbon lock-in as 196 MTPA of fossil-based capacity is planned for 2021-2038. The authors propose a five-pillar framework—sectoral policies, enabling ecosystems, bankable business models, financing/derisking mechanisms, and financial sector regulations—to transition from fossil-intensive production to low-carbon technologies like green hydrogen-DRI. It details specific instruments such as Carbon Contracts for Difference (CCfD), blended debt funds, and Article 6 of the Paris Agreement to bridge the investment gap.

The report argues that Occidental Petroleum's (Oxy) climate strategy is misaligned with the 1.5°C goal of the Paris Agreement. It finds that Oxy's net-zero targets are inadequate, focusing primarily on scope 1 and 2 emissions while ignoring the vast majority of its carbon footprint in scope 3. The analysis highlights a heavy overreliance on unproven direct air capture (DAC) technology, which the report claims is used as a 'licence to pollute' and a mechanism to prolong oil and gas extraction through enhanced oil recovery (EOR). The report further asserts that Oxy's 'net-zero oil' claims are scientifically invalid and that its lobbying efforts for government subsidies for carbon removals contradict its public climate commitments.

The Corporate Climate Responsibility Monitor 2024 finds that the median absolute emissions reduction commitment for 51 assessed companies is only 30% by 2030, falling short of the 43%-48% reduction required by the IPCC. The report criticizes the heavy reliance on 'questionable solutions' such as carbon offsets, insetting, and Renewable Energy Certificates (RECs) to mask a lack of genuine decarbonization. It specifically highlights a 'Scope 3 loophole' in the VCMI framework that could allow companies to use credits for up to 50% of their annual Scope 3 emissions. The document advocates for 'beyond value chain mitigation' (BVCM) and calls for the European Union to ban all compensation claims and for the Science Based Targets initiative (SBTi) to prohibit the use of carbon credits to meet targets.

The 2024 Corporate Climate Responsibility Monitor finds that while corporate climate targets are gradually improving, they remain largely insufficient to align with a 1.5°C pathway. The median 2030 emission reduction commitment for the 51 assessed companies is only 30-33% of full value chain emissions, falling short of the 43-48% required globally. The report highlights a critical lack of depth in scope 3 targets and warns that proposed flexibility mechanisms, such as the VCMI beta Scope 3 Flexibility Claim, could effectively nullify these commitments. It also identifies an over-reliance on 'false solutions' like bioenergy, carbon capture, and land-based carbon dioxide removals (CDR), particularly in the agrifood and fashion sectors. The authors argue for a transition from voluntary initiatives to formal accountability through mandatory regulation and accredited verification.

The guide establishes a methodology for assessing corporate climate responsibility across four key areas: emissions tracking and disclosure, target setting, emission reduction measures, and responsibility for unabated and residual emissions. It emphasizes alignment with 1.5°C-compatible pathways, the necessity of covering all emission scopes (including Scope 3), and the distinction between genuine emission reductions and misleading offsetting or 'insetting' claims. The document provides specific benchmarks for various industrial sectors and detailed criteria for high-integrity renewable electricity procurement and carbon dioxide removal (CDR) strategies.

The 2024 'Boom and Bust' report finds that while many countries are reducing coal capacity, global operational capacity grew by 2% in 2023 to 2,130 GW, driven largely by China. China's new coal construction reached an eight-year high, contradicting its 2021 pledge to strictly control new projects. Globally, only 15% of operational coal capacity is committed to retirement aligned with the 1.5°C goal. While construction outside China hit a nine-year low, new planning in India, Kazakhstan, and Indonesia remains a challenge, and captive coal plants are emerging as a persistent loophole.

The report highlights a contradictory global trend: while most countries are reducing coal construction and many are committing to phase-outs, global coal capacity increased by 11% since 2015, reaching a record high in 2023. This growth is driven primarily by China, which accounted for two-thirds of the 2023 increase. Outside China, new construction starts reached their lowest level since 2015. The report notes that only 15% of global operational capacity has a documented phase-out plan aligned with the 1.5°C goal. Regional analyses show significant progress in the EU and UK, though some countries lag behind 2030 targets, and a volatile situation in Sub-Saharan Africa where South Africa remains heavily dependent on coal despite an energy crisis.

The report finds that global coal capacity reached a record high in 2023, totaling 2,130 GW, driven largely by China. While new construction starts reached a nine-year low outside China, they hit an eight-year high within China. Only 15% of global operating coal capacity has retirement commitments aligned with the 1.5°C Paris Agreement goal. In Indonesia, the transition is hindered by the rapid growth of 'captive' coal plants for nickel smelting, a reduction in renewable energy targets, and a financial taxonomy that classifies captive coal as 'transition' activities.

This document is a Japanese translation of an excerpt from the 'Boom & Bust Coal 2024' report by Global Energy Monitor and its partners. It tracks global coal-fired power plant plans as of April 2024, highlighting a contradiction where global coal capacity reached record highs in 2023 despite a general trend of shrinking development pipelines in most countries except China.

The report finds that while many countries are reducing planned coal capacity, global operational capacity reached a record high in 2023, driven largely by China. It highlights a divergence between China's increasing construction and the decline in other regions. In South Korea, the report argues that current plans are insufficient to meet Paris Agreement goals and that continued reliance on coal, including ammonia co-firing, poses significant financial risks to the state utility and the national economy.

In 2023, global coal capacity reached a record 2130 GW, driven largely by China, despite a decline in new construction starts outside China. While 101 countries have committed to avoiding new coal, significant pre-construction pipelines remain in China and India. Central Asia is identified as a region moving against the global trend, with proposed coal capacity reaching 45% of its current operational capacity, led by Kazakhstan.

The report finds that while many countries are reducing coal capacity, global operational capacity grew by 2% in 2023 to 2,130 GW, driven largely by China. While new construction reached a historic low outside China, it hit an eight-year high within China. Only 15% of global operational capacity has a retirement commitment aligned with the 1.5°C goal. In Latin America, capacity is gradually decreasing, though some countries like Colombia and Mexico lack concrete phase-out plans, and Brazil has seen some retirement dates postponed.

Global coal-fired power capacity reached a record 2,130 GW in 2023, driven largely by China, despite a general global trend toward reducing new coal construction. While the EU and UK are accelerating retirements, China's new construction capacity reached an eight-year high. Turkey continues to develop coal capacity, ranking eighth globally in capacity under development, despite significant local opposition and the cancellation of numerous projects.

Global Energy Monitor identifies 74 new oil and gas projects that could emit 2.4 million metric tonnes of methane annually by 2030, potentially undermining the Global Methane Pledge. The analysis reveals significant discrepancies between these potential emissions and the company-wide figures reported by operators to the OGMP 2.0, suggesting widespread underreporting of assets or methane intensity. A small number of fields in Saudi Arabia and Guyana account for a disproportionate share of these emissions, while new EU regulations on imported oil and gas are expected to impact many of these developments.

The global operating coal fleet grew by 48.4 GW (2%) in 2023 to 2,130 GW, primarily driven by China. While many countries have reduced their coal pipelines or committed to 'No New Coal,' China saw an eight-year high in new construction starts. Outside China, new construction hit a record annual low. However, global operating capacity has grown 11% since 2015, and only 15% of current capacity has a retirement commitment aligned with the 1.5°C goal.

The report analyzes the growing prevalence of voluntary sustainability standards (VSSs) in free trade agreements (FTAs), noting a significant increase in references since 2018. It identifies five common rationales for their inclusion: cooperation, promotion, recognition, guidelines, and support. While VSSs can complement public regulations and drive innovative trade policy—such as using sustainability criteria for preferential tariffs—the report warns of pitfalls, including vague terminology, lack of enforcement, and the risk of VSSs becoming de facto market barriers for small-scale producers in developing countries. The authors argue that the effectiveness of VSSs depends on their credibility and the establishment of clear multilateral guidelines.

The briefing analyzes the ECB's Eurosystem collateral framework (ESCF), finding that it provides liquidity support to 34 fossil fuel companies, including major oil, gas, and coal developers. It argues that the ECB's planned 2024 limit on 'high-emitting companies' is insufficient because it overlooks financial subsidiaries and fails to remove the 'eligibility bonus' that eases financing for these firms. The report further highlights that haircuts for fossil fuel assets are often too low—some as low as 1% for Eni and TotalEnergies—and do not account for 'stranding risk' or environmental damage. Reclaim Finance recommends a full exclusion of companies developing new fossil fuel fields and a revision of haircuts to align with climate-related financial risks.

The report argues that while ENGIE has ambitious renewable energy targets, its overall climate plan is not aligned with a 1.5°C trajectory due to continued investments in fossil gas infrastructure, long-term LNG contracts for fracked US gas, and a reliance on immature technologies like CCUS and large-scale renewable gas. It highlights a lack of precise intermediate absolute emission targets and insufficient methane reporting as key governance failures.