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The document details the significant ESG risks of the East African Crude Oil Pipeline (EACOP), including threats to biodiversity, human rights violations, and climate incompatibility. It highlights the financial and reputational risks for Japanese banks, particularly SMBC, and compares their policies with peers like Mizuho and MUFG.

The global GSS+ bond market reached a cumulative issuance of $3 trillion by Q1 2022, despite a nearly 30% year-on-year decline in quarterly issuance due to interest rate hikes and the Russia-Ukraine war. While green and social bonds saw significant decreases, sustainability-linked bonds (SLBs) grew by over 100%, with 61% of their KPIs linked to greenhouse gas emission targets. China led global green bond issuance in Q1 2022, and the period saw the emergence of the first sovereign SLB from Chile and the first public sector SLB from the city of Helsingborg.

The ASEAN+3 sustainable debt market reached USD 449 billion by Q3 2021, driven largely by the People's Republic of China, Japan, and Hong Kong, China. While green bonds remain dominant, the COVID-19 pandemic accelerated the issuance of social and sustainability-labeled instruments. Local currency (LCY) issuance represents 64% of the region's total sustainable debt, though this is unevenly distributed; Thailand has the highest LCY share at 98.5%, while Viet Nam and Indonesia rely heavily on foreign currencies. The report identifies barriers such as lack of market awareness, high transaction costs for small deals, and a shortage of bankable green projects. It recommends increasing sovereign GSS bond issuance, expanding the investor base through ETFs and indices, and establishing centralized sustainable finance platforms to improve project visibility.

The report finds that while net zero commitments from private financial institutions have grown substantially, representing 32% of global private financial assets, there are significant gaps in the credibility and coverage of interim targets. Most commitments originate from OECD countries, and there is a notable lack of detailed climate data and commitments in developing economies, particularly in Asia. The analysis highlights that only a small fraction of institutions have externally verified plans, and many interim targets cover only a portion of their total assets under management.

The briefing outlines three primary risks of reintroducing nuclear-armed sea-launched cruise missiles (SLCM-N) to the U.S. Navy: operational complications and costs, the 'discrimination problem' where adversaries cannot distinguish nuclear from conventional strikes, and the risk of incentivizing other states to pursue similar capabilities, thereby lowering the threshold for nuclear use.

The report finds that the global steel industry is not on track to meet IEA Net-zero 2050 targets, as the shift from carbon-intensive BF-BOF to cleaner EAF technology is too slow. Current capacity under construction is more heavily weighted toward BF-BOF than the existing operating fleet. Asia, particularly China and India, is the primary hotspot for new BF-BOF capacity. This trend creates a significant stranded asset risk estimated between 345 and 518 billion USD. Additionally, the report highlights that accounting for coal mine methane could increase the sector's reported emissions footprint by 27%.

The briefing reports that 2030 climate target updates have stalled since COP26, leaving the world on track for 2.4°C of warming based on current targets and 2.7°C based on current policies. Despite the Glasgow Climate Pact's request for governments to strengthen their Nationally Determined Contributions (NDCs) by the end of 2022, no major emitter has updated its target. The report highlights a significant emissions gap, noting that global emissions in 2030 would be twice as high as the 1.5°C limit allows without increased action. It suggests four pathways for governments to update targets: full NDC updates, expanding NDC coverage (specifically for China regarding non-CO2 gases), participating in new sectoral initiatives, or implementing policies to overachieve existing targets.

The report argues that governments are reacting to the energy crisis by prioritizing short-term fossil fuel security over long-term decarbonization, risking a 'gold rush' for new gas infrastructure and domestic production. While some progress in renewables and green hydrogen is noted, the authors highlight a prevalence of 'bad practices' such as fossil fuel subsidies, tax cuts for petrol, and the expansion of LNG facilities. The document provides a framework of 'do's and don'ts', urging governments to instead focus on energy efficiency, electrification, behavioral changes, and the reinvestment of fossil fuel windfall profits into clean energy to avoid stranded assets and irreversible warming.

The report examines the economic opportunities of transitioning to net-zero emissions by 2050 across several major economies. It argues that public investment can drive innovation and growth through signalling, crowding-in private capital, and reducing unit costs. While fossil fuel-exporting nations like the US, Canada, and Indonesia may face long-term GDP losses as global demand for hydrocarbons falls, the report finds that most subject economies—including the EU, UK, India, Japan, and South Africa—experience net gains in GDP and employment. The transition is predicted to significantly reduce household expenditure on fossil fuels, improve public health by reducing pollution, and enhance energy security, particularly for the EU in the context of reducing dependence on Russian gas.

The report argues that an accelerated clean energy transition is economically beneficial, reducing household energy bills, creating jobs, and increasing GDP growth compared to business-as-usual scenarios. It outlines specific policy levers—such as decarbonizing power systems by 2035/2040 and phasing out coal—that can drive these gains. Modelling shows significant per capita energy savings in G7 nations and substantial job creation in developing economies like India and Indonesia.

The document analyzes India's offshore wind potential, primarily off the coasts of Gujarat and Tamil Nadu, noting that while the country has a target of 30 GW by 2030, no projects are currently operational. It identifies critical barriers including high capital costs, lack of specialized port infrastructure, and regulatory uncertainties. By comparing India to existing markets like the UK and Denmark and emerging markets like Taiwan and South Korea, the paper recommends updating the National Offshore Wind Energy Policy 2015, implementing competitive procurement mechanisms such as Contracts for Difference, and developing a government-led 'plug-and-play' power evacuation model to reduce investor risk. It also emphasizes the need for detailed Environmental Impact Assessments (EIAs) and the integration of offshore wind with green hydrogen or hybrid RTC (round-the-clock) renewable projects to enhance economic viability.

The We Mean Business Coalition urges G7 leaders to lead a rapid transition away from fossil fuels through specific targets, including decarbonized power systems by 2035 and the elimination of fossil fuel subsidies by 2025. The coalition emphasizes that the war in Ukraine has highlighted the vulnerability of fossil fuel dependence and calls for strengthened NDCs, scaled-up renewable energy, and mandatory corporate climate disclosures to ensure a just and people-centred transition.

The We Mean Business Coalition calls for global consistency in corporate sustainability reporting to support the Paris Agreement and the Glasgow Climate Pact. The coalition argues that misalignments in terminology and definitions between the SEC, EFRAG, GRI, and ISSB risk undermining the impact of these standards and increasing reporting burdens for companies. Specifically, the coalition urges the CSRD to align with ISSB and GRI on impact materiality, calls on the US SEC to allow the use of ISSB standards to meet reporting obligations, and encourages the ISSB to establish itself as the global baseline for sustainability-related financial disclosures.

The document argues that proof-of-work digital currencies, specifically Bitcoin, cause significant environmental harm through soaring electricity demand, increased greenhouse gas emissions, and the generation of substantial electronic waste. It highlights the negative impacts on local communities, such as increased electricity prices and thermal pollution in water bodies, and notes that these operations can strain critical semiconductor supply chains. The authors propose several mitigation strategies, including stringent EPA permit reviews, the creation of a mining operation registry by the OMB, energy efficiency standards from the DOE, and transparency requirements from financial regulators like the SEC and CFTC.

The MENA region is well-positioned to produce zero-carbon fuels due to its abundant solar, wind, and hydrocarbon resources, as well as existing industrial infrastructure. While 'green' hydrogen (from renewables) and 'blue' hydrogen (from natural gas with carbon capture and storage) are both viable, the report argues that hydrocarbon-derived fuels could provide a lower-cost catalytic role in scaling the market. However, significant barriers exist, including a lack of meaningful demand beyond industrial users, the absence of carbon pricing or regulatory requirements to reduce emissions, and a lack of common certification schemes for lifecycle greenhouse gas emissions. The report recommends regional coordination, the development of fuel-neutral procurement policies, and the establishment of comprehensive regulatory frameworks for carbon management to attract investment and ensure environmental integrity.

The Indian GSS debt market experienced significant growth in 2021, reaching a cumulative volume of USD 19.5 billion, with green bonds dominating the landscape. While the market is primarily driven by non-financial corporates and focused on utility-scale renewable energy, there is emerging activity in sustainability-linked bonds and potential for expansion into electric vehicles, waste management, and climate-smart agriculture. The Indian government is supporting this growth through the Ministry of Finance's Sustainable Finance Task Force and the planned issuance of a domestic sovereign green bond in 2022.

In Q1 2022, the cumulative GSS+ labelled debt market reached USD3tn, though quarterly issuance fell nearly 30% year-on-year to USD202.2bn due to market volatility and rising interest rates. While green and social bond volumes declined, sustainability and sustainability-linked bonds saw growth. The period was marked by the first sovereign sustainability-linked bond from Chile and the first public sector sustainability-linked bond from the City of Helsingborg. The report also highlights the role of the IPCC WG3 report and the war in Ukraine in underscoring the urgency of the energy transition, while noting the emergence of transition bonds in Japan.

The document outlines the synergies between climate mitigation and public health, arguing that immediate action to reduce emissions provides significant health co-benefits across energy, transport, urban planning, and agriculture. It emphasises that climate change is a justice issue, noting that wealthy nations and individuals are the primary polluters while vulnerable populations suffer most. The briefing advocates for systemic transformations, such as shifting to plant-based diets, decarbonising energy systems, and implementing sustainable urban design, to avoid breaching the 1.5°C warming threshold and to improve global health outcomes.

The report analyzes the evolution of biological weapons threats from the 1940s to the 2010s, noting a shift from battlefield utility to 'gray zone' and asymmetric warfare. It argues that the COVID-19 pandemic acts as a 'game changer' that could either drive nations toward biological weapons as a low-cost deterrent or catalyze a new era of international cooperation. The authors identify critical gaps in U.S. policy, including an over-emphasis on bioterrorism over state-based threats and declining biodefense funding, recommending a 'deterrence by denial' strategy and increased international collaboration.

The document examines the link between resource-intensive lifestyles of the global rich and environmental degradation, noting that the world has been in 'global ecological overshoot' since 1970. It identifies housing, transport, and food as the primary drivers of lifestyle emissions and proposes a multi-pronged policy approach to shift societal norms. The authors emphasize that a 'just transition' is necessary to avoid marginalizing local communities and to prevent 'neo-consumerism' where green products simply replace unsustainable ones without reducing overall consumption.