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The report finds that Japanese financial institutions are among the world's largest supporters of LNG expansion, providing billions in financing despite public commitments to carbon neutrality. It highlights a significant gap between these climate pledges and actual financial flows, particularly from four major banks and the Government Pension Investment Fund (GPIF). The document argues that this support locks in long-term fossil fuel dependence and risks creating stranded assets, especially in Europe and South Korea where gas demand is declining.

The report finds that US financial institutions are primary drivers of global LNG expansion, providing billions in financing and investments despite climate pledges. Between 2021 and 2023, 85 US banks provided US$51.2 billion to LNG expansion, with six major banks accounting for 80% of this total. US investors held US$179.6 billion in assets of top LNG developers as of May 2024. The document highlights a significant gap between these institutions' net-zero commitments and their actual policies, which lack restrictions on LNG. It warns that new LNG infrastructure risks creating stranded assets, particularly in Europe, and contributes to substantial greenhouse gas emissions, including high levels of methane leakage from US shale gas fields.

The report finds that French financial institutions are among the top global supporters of LNG expansion, with four banks providing nearly all of the US$14 billion in financing between 2021 and 2023. It highlights a significant gap between these institutions' net-zero pledges and their continued funding of LNG export and import terminals, including support for TotalEnergies. The document argues that current sector policies are insufficient due to loopholes regarding corporate financing and import terminals, and calls for a comprehensive end to financial services for new LNG projects.

The project targets a reduction of 16.05 million tCO2eq over seven years in West Kalimantan, Indonesia. It employs a three-component strategy: strengthening institutional and regulatory frameworks, scaling sustainable agricultural supply chains and social forestry, and improving the management and rehabilitation of forest and peatland ecosystems. The initiative focuses on five priority regencies—Kapuas Hulu, Ketapang, Kubu Raya, Sanggau, and Sintang—targeting 680,000 direct beneficiaries, including indigenous peoples and women, to transition toward low-emission and climate-resilient land-use pathways.

The report examines Indonesia's green public procurement (GPP) landscape, noting that while a strong policy framework exists, widespread adoption is hindered by limited official understanding, product availability, and cost concerns. It recommends improving tools, capacity building, incentives, and monitoring to leverage the fact that procurement accounts for over 45% of government spending to drive sustainability.

The document outlines the role of supply-side policies in accelerating the transition to zero-emission vehicles (ZEVs) by influencing manufacturers to increase the production and sale of compliant vehicles. It highlights a broader analysis of ZEV policies in eight specific markets—Australia, Brazil, China, the European Union, India, Indonesia, the United States, and South Africa—to identify policy gaps and the link between policy design and the mobilization of financing.

Global warming projections for 2100 have remained stagnant since 2021, with current policies leading to a median estimate of 2.7°C of warming. While clean energy investments now double those for fossil fuels, record-high fossil fuel subsidies and funding for prolonging projects are preventing the steep emissions decline required by the Paris Agreement. The briefing emphasizes that seven large emitters and the COP Troika countries, responsible for 63% of 2022 global emissions, must set more ambitious 2030 and 2035 targets to align with 1.5°C.

The Monetary Authority of Singapore (MAS) and McKinsey have proposed using 'transition credits' (carbon offsets) to attract finance for the early retirement of coal plants in Asia. Reclaim Finance argues that this approach replicates the failures of the broader offset industry, specifically regarding the inability to prove 'additionality' and the risk of inflated emission reduction estimates. The document asserts that offsets create perverse incentives that may deter governments from enacting national coal phaseout policies or providing concessional finance. It concludes that a successful transition requires increased public concessional funding and accelerated investment in sustainable power alternatives rather than a reliance on tradeable offsets.

Non-CO2 emissions account for approximately 25% of global greenhouse gas emissions, yet they are frequently overlooked in NDCs, which often lack gas-specific quantitative targets. While some countries like Côte d’Ivoire and Japan provide good practice examples of quantitative targets, major emitters including China, Russia, India, and Brazil generally only include non-CO2 gases as part of overall GHG targets. China, whose current NDC covers only CO2 despite non-CO2 gases making up 18% of its national emissions, has indicated it will include these gases in its updated NDC. The brief argues that the 2025 NDC update cycle is a critical opportunity for major emitters, particularly China, to adopt sector-specific targets and align with international initiatives like the Global Methane Pledge and the Kigali Amendment to maintain the 1.5°C warming limit.

The document argues that Asia can achieve a more rapid coal phase-out by stopping the construction of new plants, which would allow 90% of the existing fleet to exceed their 20-year investment recovery period by 2040. It critiques co-firing with ammonia or biomass as expensive and marginally effective, while highlighting successful financing models from IEEFA and the Griffith Asia Institute that make early retirement financially viable through renewables bundling and refinancing. The briefing emphasizes that a just transition requires concessional and multilateral financing from developed nations to support coal-dependent communities.

The report details the disclosure of an Environmental and Social Impact Assessment (ESIA), an Environmental and Social Management Plan (ESMP), and an Environmental and Social Management System (ESMS) for the Ampyr - Dhule subproject in Maharashtra, India. It confirms that these documents were made available in English and Marathi to satisfy GCF requirements for Category B sub-projects, ensuring disclosure at least 30 days before an investment decision. The report also notes that the project adheres to an IFC-compliant ESMS and lists specific dates for stakeholder engagement and public disclosure in Mhasale Village.

The report finds that Indonesia's captive coal capacity tripled between 2019 and 2024, reaching 15.2 GW, with projections to hit 26.2 GW by 2026. This growth is primarily driven by the nickel, aluminium, and iron and steel industries. The authors argue that this trend contradicts Indonesia's climate goals and will cause significant public health burdens, including an estimated 27,000 additional deaths if captive plants are excluded from a 2040 coal phase-out. While some companies are adopting solar and hydro, the report emphasizes that renewable energy solutions are now cost-competitive with coal.

Reclaim Finance outlines the stakes for COP29, emphasizing that the New Collective Quantified Goal (NCQG) for North-South climate finance should be at least a trillion dollars and provided as grants or grant-equivalents. The organization warns against allowing private finance or carbon offsets to count toward these public obligations, noting that private capital often bypasses the poorest communities and adaptation projects. While acknowledging the role of private finance in tripling renewable energy, the document criticizes the Glasgow Financial Alliance for Net Zero (GFANZ) for its failure to restrict fossil fuel financing and the methodological flaws in Net-Zero Banking Alliance targets. It further highlights the failure of Just Energy Transition Partnerships (JETPs) in South Africa, Indonesia, and Vietnam due to a lack of concessional funding and private sector risk aversion.

The report highlights that G20 fossil fuel reserves contain over a trillion tons of CO2 equivalent, which would exceed the 2ºC carbon budget if fully extracted. It notes that emissions from G20 fossil fuel extraction nearly doubled between the 1992 Rio Summit and 2020. Despite this, the document argues that G20 economies have become less dependent on fossil fuel rents over the last three decades, making them better equipped to transition. It specifically identifies the USA, Canada, Australia, the UK, Germany, and Italy as being best placed to transition first and fastest.

The report argues that a Fossil Fuel Non-Proliferation Treaty can catalyze the financing necessary for a global just transition by establishing new funding regimes, creating state obligations, and supporting parallel financial reforms. It categorizes potential solutions into three clusters: debt management, new forms of finance and investment, and the replacement of fossil fuel revenues. The authors emphasize that wealthy nations must assume historical responsibility by ending extraction first and providing financial support to low and middle-income countries (LMICs) to diversify their economies.

The report examines Indonesia's GPP landscape, noting that public procurement accounts for over 45% of government spending (approximately 6.6% of nominal GDP). While a legal framework exists, GPP remains effectively voluntary due to a lack of enforcement. Key tools include Type 1 and 2 eco-labels, the Timber Legality Verification System (SVLK), and the Energy Efficiency Saving Label (LTHE). Major barriers include limited stakeholder knowledge, high costs of green products, and procurer risk aversion. The report recommends introducing easy-to-use tools like the CO2 Performance Ladder, enhancing capacity building, providing financial and non-financial incentives, and establishing a formal monitoring and evaluation system.

India aims to indigenize battery manufacturing through the PLI-ACC scheme to install 50 GWh of capacity by 2026, yet remains heavily reliant on imports for cells, components, and machinery. The report identifies six primary challenges: skilled labour shortages, a lack of testing and validation centres, dependence on imported critical minerals, insufficient recycling infrastructure, the need for ESG standards to ensure export competitiveness, and high import dependence for manufacturing equipment. It recommends prioritizing the localization of synthetic anodes, electrolytes, and LFP cathodes, while expanding R&D for next-generation technologies like sodium-ion batteries.

This analysis of 108 GCF readiness proposals reveals that funding is primarily directed toward governance and institutional coordination (37.1%) and evidence-based planning (32%), with significantly less investment in private sector engagement (2.6%). While most countries use these grants to draft or update National Adaptation Plans (NAPs) and develop investment pipelines, the report highlights a need for more national delivery partners and a stronger focus on domestic financing and concrete implementation steps, such as climate adaptation investment plans.

The November 2024 update reveals a three-year stagnation in global warming projections, with current policies setting the world on a path toward 2.7°C of warming by 2100. While renewable energy and electric vehicle deployment have seen record growth, these gains are offset by all-time high fossil fuel subsidies and increased funding for fossil fuel projects. The report warns that without a substantial increase in the ambition of 2030 and 2035 targets, the 1.5°C limit will likely be breached in the early 2030s, leading to a multidecadal overshoot.

Japan is the only G7 country without a clear coal phaseout deadline, with coal accounting for nearly one-third of its electricity generation as of 2023. The Japanese government is promoting 'next-generation' technologies, specifically carbon capture and storage (CCS) and ammonia co-firing, which the report characterizes as 'false solutions' due to their high cost and limited effectiveness. These policies are supported by market mechanisms like the Capacity Market and the Long-Term Decarbonization Power Source Auction, which incentivize the continued operation of coal plants. Furthermore, Japan's three megabanks—Mizuho, MUFG, and SMBC—provided US$23.5 billion in coal financing between 2021 and 2023, often utilizing loopholes that exclude only new clients. The report also highlights the Asia Zero Emission Community (AZEC) initiative, noting that 35% of its 158 agreements involve fossil fuels, potentially locking Southeast Asian nations into outdated energy systems.