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Reclaim Finance and co-signatories argue that TotalEnergies has failed to adequately address concerns regarding the Papua LNG project, citing lack of transparency in climate and human rights assessments, failures in obtaining Free, Prior and Informed Consent from Indigenous Peoples, and insufficient evaluation of biodiversity and cumulative impacts.

A coalition of NGOs, including Reclaim Finance, asserts that TotalEnergies' response to their complaint about the Papua LNG project is insufficient. They highlight critical gaps in transparency regarding climate risk assessments, human rights impacts, and biodiversity studies. The authors argue that the project risks emitting 220 million tonnes of CO2, threatening endangered species and indigenous rights, while failing to provide clear information to local communities or adhere to the Equator Principles and IFC standards.

The complaint argues that the Papua LNG project, a joint venture led by TotalEnergies, lacks necessary climate and human rights assessments, fails to obtain Free, Prior and Informed Consent (FPIC) from Indigenous Peoples, and threatens critical biodiversity. It specifically targets MUFG bank, claiming it may be misleading other financial institutions about the project's compliance with the Equator Principles.

A coalition of civil society organizations is urging 50 financial institutions to pressure TotalEnergies, ExxonMobil, Santos, and ENEOS to cancel the Papua LNG project. The letter argues the project is incompatible with the 1.5-degree goal of the Paris Agreement, lacks the Free, Prior, and Informed Consent (FPIC) of Indigenous Peoples, and employs insufficient biodiversity offsetting measures. The authors call for shareholders to vote against director re-elections, stop purchasing new bonds, and establish a time-bound divestment strategy if fossil fuel expansion continues.

Fifty civil society organizations are urging financial institutions to cease support for the Papua LNG project, arguing it is incompatible with the 1.5°C global warming limit and the IEA Net Zero scenario. The project, involving TotalEnergies, ExxonMobil, Santos, and JX Nippon, is criticized for its estimated 220 million tons of CO2 equivalent emissions, risks of human rights abuses and environmental damage in Papua New Guinea's Gulf Province, and potential financial risks due to projected peaks in global gas demand by 2030.

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 Papua LNG project, led by TotalEnergies, faces delays and rising costs, with estimates increasing from US$10 billion to US$18 billion. While some banks have declined direct financing due to climate policies, others continue to fund the project's developers. The project is projected to emit over 220 million tonnes of CO2, increasing Papua New Guinea's industrial and energy sector emissions by 7%, and poses significant risks to biodiversity and local communities in the Gulf Province. Critics argue that investing in renewable energy would be more cost-effective and beneficial for the country's electricity needs.