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The report finds that while OECD pension funds are increasing their climate target-setting and internal governance, their portfolios remain heavily exposed to expansionist fossil fuels. Progress is strongly linked to national regulatory environments, with the Netherlands, Denmark, and the UK leading. A critical lever for future impact is the governance of the asset owner–asset manager relationship, where leading funds are moving toward more active mandates, stricter stewardship oversight, and in some cases, the internalization of asset management to ensure alignment with net-zero goals.

The document outlines a five-step process for governments to identify and quantify fossil fuel subsidies: applying a whole-of-government approach, establishing a comprehensive scope based on WTO standards, choosing measurement methods (price-gap vs. inventory), evaluating socio-economic and environmental impacts, and ensuring regular public disclosure. It emphasizes the use of the WTO Agreement on Subsidies and Countervailing Measures (ASCM) as a minimum baseline and highlights the role of effective carbon rates (ECRs) in improving cross-country comparability.

The report argues that the current EU public procurement framework, specifically Directive 2014/24/EU, fails to drive the green transition because GPP remains voluntary, leading to fragmented implementation and a prevalence of lowest-price awards. It identifies three primary challenges: a fragmented legal landscape, the voluntary nature of GPP, and perceived legal uncertainty regarding the 'link to subject matter' rule. To address these, the authors recommend making GPP the default via a 'comply-or-explain' approach, tying 'Buy European' rules to environmental performance, simplifying rules through harmonized criteria and labels, strengthening data monitoring, and investing in the professionalization of contracting authorities. The report provides detailed operational options for both simplification and strategic procurement to support the EU's 2040 emissions targets.

The report examines how activists and civil society in Latin America and the Caribbean use climate litigation to block fossil fuel expansion and promote policies aligned with the Paris Agreement. It highlights a predominantly rights-based approach, emphasizing the right to a healthy environment and the protection of Indigenous communities. The analysis identifies significant institutional barriers in the region, including high litigation costs, structural violence against environmental defenders, and a lack of specialized judicial training. While the region leads the Global South in climate litigation volume, it lags behind the Global North in lawsuits targeting private corporations directly. The document also warns of 'backlash' through investor-state dispute settlement (ISDS) mechanisms, where companies use international arbitration to challenge decarbonization policies.

In 2025, Europe transitioned toward commercial-scale CCS deployment, marked by the first fully operational value chain at Norway's Brevik cement plant. While ten projects reached final investment decisions (FID) between December 2024 and October 2025—adding approximately 4 Mt CO2/year of capture and 14 Mt CO2/year of storage capacity—deployment remains far below the trajectories needed for 2040 and 2050 climate targets. Progress is heavily reliant on blended finance and corporate carbon dioxide removal (CDR) offtake agreements, particularly with Microsoft. Geographically, CCS is expanding from Northern European hubs into Southern and Central & Eastern Europe, with new projects in Spain, Italy, Romania, Bulgaria, Slovakia, and Hungary. Policy advancements include the Net-Zero Industry Act's 2030 injection target and Germany's 2025 legislation classifying CO2 transport and storage as projects of overriding public interest.

India has struggled to launch its offshore wind market despite a decade of policy efforts, with two major auctions called off in 2025. The brief identifies rigid pricing structures, a lack of local supply chains for high-capacity turbines, and transmission risks as primary barriers. It argues that India should move away from blunt competitive auctions for first-of-a-kind projects and instead adopt global best practices, such as flexible tariffs, 'ready-to-build' tender packages, and compensation for grid delays, to attract investment and develop domestic industry.

Analysis of 840 municipalities in the Cerrado shows that land clearing for soy creates a 3:1 productivity loss, where climate spillovers outweigh the gains from new farmland. While individual farmers profit by externalizing costs, the region lost USD 9.4 billion in potential soy production between 2013 and 2023 due to deforestation-induced drying. Global importers, particularly China and Germany, face significant supply chain vulnerabilities, with China's sourcing regions losing USD 5.0 billion in annual production capacity. The report argues for urgent conservation and intensification strategies, noting that most municipalities are still below a critical climate threshold where protection delivers maximum benefit.

The document defines fossil fuel subsidies as mechanisms that price fuels below real costs, noting that explicit subsidies reached USD 1.1 trillion in 2023, while total estimates including climate and health costs exceed USD 7 trillion. It argues that these subsidies distort markets, encourage overconsumption, and undermine energy security by increasing vulnerability to global price shocks. The guide highlights that reform can reduce CO2 emissions by 1%–10% by 2030 and generate fiscal savings for reinvestment in clean energy. It notes that broad subsidies often disproportionately benefit high-income households, with the top 20% receiving up to six times more benefits than the poorest 20%. Examples of successful reforms are cited from Indonesia, India, and Italy. The document also details the role of COFFIS in improving transparency through national subsidy inventories and phase-out plans.

The document examines how four countries—Germany, the UK, Japan, and Australia—successfully reduced waste sector methane emissions through a combination of legislation, market-based tools, public education, and voluntary agreements. It highlights a general trend of diverting waste from landfills toward recycling, composting, and incineration, while noting that high-income countries in Europe, Asia, and Oceania have seen the most significant progress.

The report argues that temporary CRCF units from carbon farming are currently of low quality due to insufficient management of non-permanence and additionality risks, making them unsuitable for offsetting emissions. It assesses proposed EU agri-food policies—including an Agricultural Emissions Trading System (AgETS) and Mandatory Climate Standards (MCS)—concluding that allowing these units as offsets would undermine environmental integrity. The authors recommend shifting toward activity-based payments, either through a reformed Common Agricultural Policy (CAP) or other public funding mechanisms, to promote carbon farming without the integrity risks associated with result-based crediting.

Reclaim Finance criticizes Agirc-Arrco, ERAFP, and the Fonds de Réserve pour les Retraites (FRR) for employing BlackRock, an asset manager it claims actively supports fossil fuel expansion. The organization highlights BlackRock's $431 billion in holdings in companies developing new fossil projects as of May 2024 and its declining support for environmental shareholder resolutions. Reclaim Finance urges these French institutions to adopt science-based climate criteria for selecting managers and to publicly oppose BlackRock's practices, noting that other European pension funds, such as the Dutch PFZW, have already withdrawn mandates from the firm.

The guide argues that fossil fuel subsidies (FFSs) are misaligned with climate and fiscal goals and proposes a three-step approach to phase them out: establishing a whole-of-government coordination mechanism, categorizing subsidies into three timelines based on risk and feasibility, and executing detailed implementation plans with clear accountability. It emphasizes that while developed countries should lead with faster reforms, developing countries may require longer timelines and more robust social protection measures to ensure a just transition.

The document examines the role of green public procurement (GPP) in the EU, highlighting that while public procurement accounts for 14% of EU GDP and 11% of its greenhouse gas emissions, the uptake of GPP tools is hindered by legal uncertainty, administrative burdens, and capacity gaps. It advocates for reforming EU directives to broaden the 'link to subject matter' requirement, standardize sustainability tools, and professionalize procurement staff to drive the green transition.

The report analyzes the 'petroganda' strategies of oil companies like Equinor, Shell, and BP, focusing on their use of community 'gifts' and cultural sponsorships to build social legitimacy and silence critics. It highlights specific cases in Norway and Brazil, such as the First Lego League and the Rouanet Youth Program, and discusses resistance strategies including civil disobedience and the 'Petroganda Prize'.

A coalition of NGOs denounces TotalEnergies' plan to restart the $20 billion Mozambique LNG project, citing a 'deep contempt' for local communities and the environment. The organizations highlight that the project's resumption is contingent on the Mozambican government approving a revised budget that includes $4.5 billion in additional costs incurred during the force majeure period. The statement further alleges severe human rights abuses, including the 'container massacre' and torture of civilians, and calls on financial institutions—including Crédit Agricole, Société Générale, and various export credit agencies—to withdraw their support.

The document argues that social acceptance is a critical bottleneck for CCS deployment in Poland, where public awareness is low and skepticism is high. It highlights the risk of 'NIMBY' (Not In My Back Yard) and 'WIMBY' (Why In My Backyard?) attitudes, drawing parallels to the historical failure of onshore wind development in Poland. Through international case studies from Japan, Norway, and Australia, the brief demonstrates that transparency, early engagement, and tangible local benefits are essential for securing a 'social licence to operate.' It recommends that the Polish government implement mandatory early community engagement, public data sharing, and benefit-sharing mechanisms to ensure the technology is accepted as a tool for industrial decarbonisation and job retention.

The EU remains highly vulnerable to energy price shocks and supply disruptions due to a 58% reliance on imported fossil fuels for primary energy. While the power sector has largely transitioned to homegrown sources, sectors like transport (88% reliant on imports) and buildings remain exposed. The report argues that electrification can reduce fossil import dependency to 30% by 2040, noting that 67% of EU energy demand can already be electrified with mature technologies. Current frontrunners, such as Denmark with electric vehicles and the Netherlands with heat pumps, demonstrate significant displacement of oil and gas imports.

Air pollution is the second deadliest risk for children under five globally, causing over 709,000 deaths in 2021. Children are more vulnerable due to developing immune systems and higher breathing rates. The burden is heavily skewed by economic disparity, with children in the least-developed countries facing death rates 94 times higher than those in the most-developed nations. The document highlights how structural lock-ins to fossil fuels and polluting land-use practices drive this crisis, noting that less than 1% of fossil fuel subsidies were spent on outdoor air quality between 2018 and 2022. Case studies in South Africa, Brazil, Nigeria, and Bangladesh illustrate the specific drivers—such as coal power, biomass burning, brick kilns, and oil extraction—that contribute to high child mortality and lifelong developmental impairments.

The report examines the impact of declining official development assistance (ODA) on Africa's energy sector, noting a 10% drop in ODA flows since 2020. It argues that this funding gap, particularly severe in the energy sector, necessitates a shift toward private capital and domestic savings, which currently stand at 18% in Sub-Saharan Africa compared to a 36% global average. The document identifies structural inefficiencies in state-run utilities—where transmission and distribution losses cost the continent approximately 5 billion USD annually—as a primary barrier to progress. To achieve energy independence and industrial growth, the report recommends strengthening regional integration via the African Continental Free Trade Agreement to expand fragmented energy markets and diversifying away from expensive thermal generation. Ultimately, it calls for an energy agenda led by African nations rather than external funders in Washington, Brussels, or Beijing, treating energy investment as a development multiplier that could unlock market opportunities of nearly 12 trillion USD across four key sectors.

The report argues that while supply-side subsidies and carbon pricing are necessary, they are insufficient to close the cost gap for near-zero emissions industrial products. It recommends that the EU implement harmonised embodied carbon labelling and mandatory procurement quotas for decarbonised materials in high-impact sectors such as construction, automotive, and food retail to create stable lead markets.