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The Energy Supply Financing Ratio (ESFR) compares a bank's financing of fossil fuels against its financing of sustainable alternatives, with a target ratio of 6:1 by 2030 based on IEA scenarios. Reclaim Finance warns that varying methodologies allow banks to present misleading ratios, often by excluding capital market activities or including fossil-fuel-related technologies like CCUS in 'low-carbon' scopes. While some North American and French banks have begun publishing these ratios, significant gaps in transparency and scope persist.

The Energy Supply Financing Ratio (ESFR) compares a bank's financing of fossil fuels against its financing of sustainable energy alternatives. Based on the International Energy Agency's (IEA) Net Zero Emissions by 2050 scenario, a ratio of 6:1 is required by 2030 to meet climate goals. However, Reclaim Finance finds that the 65 largest global banks averaged a ratio of only 0.42:1 between 2021 and 2024. The document warns that banks often use misleading methodologies—such as excluding capital markets activities or including fossil-fuel-linked technologies like CCUS in 'low-carbon' categories—to greenwash their climate strategies.

The document outlines the health risks of wildfire smoke, specifically PM2.5 particulates, and provides guidance for reporters on highlighting vulnerable populations and using tools like the Air Quality Index (AQI). It notes that wildfire smoke can be up to 10 times more harmful in the short term than industrial pollutants and cites a study estimating 70,000 annual deaths in the US by 2050.

The Rio Grande Basin is facing a severe water crisis characterized by unsustainable consumption and declining snowmelt, resulting in the loss of 85% of the river's natural flow. To address this, the author advocates for the modernization of the Rio Grande Environmental Management Program (RGEMP) via the Water Resources Development Act (WRDA) 2026 to provide funding from 2026 to 2032 and streamlined access for local partners. Additionally, the document calls for increased funding for the Bureau of Reclamation's WaterSMART programs to support infrastructure upgrades and drought resilience.

Mighty Earth's CEO asserts that JBS's decision to drop its 2040 net-zero target exposes the company's lack of a credible climate plan. The author claims the original target was deceptive, focusing only on Scope 1 and 2 emissions while JBS continued to drive large-scale deforestation and expand cattle slaughter in Brazil and Nigeria. The document calls for continued pressure from investors and governments to push JBS toward large-scale solutions like regenerative practices and animal-free protein.

The F-List 2026 identifies 1,321 contracts between 802 agencies and 386 fossil fuel clients across 73 countries. The report argues that creative agencies facilitate a 'creative cover-up' by positioning fossil fuels as essential for energy security and economic stability, while often ignoring the 'advertised emissions' generated by these campaigns in their own sustainability reporting. Key findings highlight that Omnicom holds the highest number of fossil fuel contracts ever recorded (118), while Edelman is identified as having the highest financial dependency on fossil fuel income among holding companies at an estimated 5.64% of revenue. The report also notes a trend of using natural gas as a 'driver of progress' in recent campaigns in Japan and Colombia.

Climate change accounted for 27% of the rate of heat-related emergency room visits in the U.S. during 2018-2025. August 2026 was the warmest August on record globally, with record warmth affecting 13.2% of global land and ocean areas. In the U.S., Summer 2026 was the warmest on record for the contiguous region, and August 2026 was the warmest August for average, maximum, and minimum temperatures since 1895. Drought affected at least 81% of the contiguous U.S. as of September 8, 2026, and nearly 8.3 million acres burned year-to-date, driven by increased 'fire weather' days. Attribution analysis using the Climate Shift Index (CSI) indicates human-caused climate change drove summertime warming trends in 91% of analyzed U.S. cities. Additionally, a strong El Niño event is projected to peak around February 2027, with global temperature anomalies potentially reaching 1.7C above pre-industrial levels.

July 2026 was tied for the warmest July on record globally and was the all-time warmest July for the contiguous U.S. This extreme heat, driven by human-caused climate change and a strengthening El Niño, has led to a significant increase in cooling degree days—a proxy for energy demand—across most major U.S. cities. The report also details widespread drought affecting at least 70% of the contiguous U.S. and record-low sea-ice extents in both the Arctic and Antarctic.

The report synthesizes interviews with 25 climate litigation practitioners to identify critical gaps in scientific evidence needed for legal accountability. It highlights ten research priorities, including advances in end-to-end attribution science, quantification of noneconomic loss and damage, and the impact of industry disinformation. The authors also detail barriers to integrating science in courts, such as the 'resource imbalance' between public-interest lawyers and industry defendants, the differing standards of 'certainty' between science and law, and political interference in the judiciary.

The author contends that treating the reduction of greenhouse gas emissions and the implementation of heat adaptation measures as a zero-sum game is a dangerous fallacy. While some argue that adaptation (such as air conditioning) should be prioritized over mitigation, and others express concern that cooling technologies exacerbate heat, the document asserts that both are essential. It highlights that failing to reduce emissions increases the future burden of adaptation, while failing to adapt leads to immediate loss of life, citing the 2021 heat dome in British Columbia. The proposed solution is the rapid expansion of a clean, affordable, and flexible electrical grid to power modern cooling technologies like heat pumps, combined with long-term urban planning such as improved insulation and increased tree canopy.

The author contends that treating the need for immediate heat adaptation and the long-term goal of reducing emissions as a trade-off is a 'dangerous false choice.' While some argue that focusing on emissions neglects immediate safety, and others suggest air conditioning worsens heatwaves, the document asserts that both are necessary. It argues that the solution lies in decarbonizing the electricity grid to provide clean, affordable power for cooling, while simultaneously improving home insulation and urban shading to reduce energy demand.

The U.S. experienced 12 billion-dollar weather and climate disasters from January to June 2026, causing at least $31.9 billion in damages and 183 fatalities. This period ranks fifth for the most events in the first half of any year since 1980. Severe storms were the dominant disaster type, accounting for eight of the 12 events. Historically, the average number of such disasters per year has risen from three in the 1980s to 20 events annually between 2016 and 2025, with the average time between events shrinking from 82 days to 16 days in the same comparison.

Climate change is making heatwaves in Canada more frequent, intense, and prolonged, with the country warming twice as fast as the global average. These events are linked to increased mortality, severe health risks, and the amplification of wildfires, such as the 2021 British Columbia heat dome. The economic burden is significant, with projected annual costs of $3 billion for health-related deaths and quality of life losses by mid-century, alongside billions in infrastructure damage and productivity losses. Adaptation strategies, including indoor cooling and resilient infrastructure, are recommended to mitigate these risks.

Small island nations face unique hurdles in managing end-of-life (EOL) electric vehicle batteries, including a lack of specialized workforces, space constraints, and the inability to achieve economies of scale. The report highlights that while large markets benefit from established recycling networks, islands must navigate complex international regulations, such as the Basel Convention and IMO's IMDG Code, to export waste. It suggests a phased approach—utilizing off-island export in the short term and investing in local shredding infrastructure as volumes grow—citing Bermuda's proactive national strategy as a viable model for other remote regions.

The share of gas in the global power mix fell for the fifth consecutive year in 2025, dropping from 23.9% in 2020 to 21.8%. While absolute global gas generation has not yet peaked, its growth rate slowed from 2.9% (2016-2020) to 1.6% (2021-2025) as solar and wind met approximately 68% of global electricity demand growth over the last five years. By 2025, 61 out of 124 gas-generating economies had passed their historical gas generation peaks. In the G7, renewable power (2,544 TWh) nearly equaled gas power (2,577 TWh) in 2025. Conversely, gas remains central to the power sectors of the US and Canada, and continues to support demand in parts of North and West Africa.

The document argues that rapid declines in clean energy costs and evolving grid needs make many planned coal plants economically risky. It introduces a five-indicator framework to identify high-priority candidates for reconsideration and suggests a phased approach to transitioning these projects to alternatives like solar paired with battery energy storage systems (BESS).

June 2026 was the second-warmest June on record globally, with the Arctic experiencing its warmest June ever. In the U.S., 66% of the contiguous region faced abnormally dry or drought conditions by July 7, 2026, and the West and Southwest regions saw their warmest January-June period on record. A very strong El Niño is forecast to develop between October and December 2026, with an 81% probability, likely pushing global temperatures to or above 1.5C by October. Climate Central's analysis indicates human-caused climate change is a key driver of summertime warming in 91% of analyzed U.S. cities.

The report argues that many planned coal plants in low- and middle-income countries (LMICs) are candidates for reconsideration due to declining costs of solar and battery storage, evolving grid needs, and the risk of long-term financial lock-in. It introduces a five-indicator framework—fuel source, initiation date, sunk costs, designed grid role, and evolution of grid needs—to prioritize plants for reevaluation. RMI's analysis suggests that solar paired with battery energy storage systems (BESS) is increasingly cost-competitive with new ultra-supercritical coal, potentially offering a more affordable and flexible alternative for modernizing grids.

The report identifies North American carbon credit markets as fragmented, confusing, and unreliable, overseen by a mix of state regulatory bodies and non-profit programs. It advocates for increased integration and the establishment of government-administered voluntary programs, buyer coalitions, and recognition for responsible credit use to attract private investment and align current markets with future policies.

The United States is well-positioned to lead the next-generation geothermal supply chain due to significant overlaps with the oil and gas industry, though gaps remain in superhot rock (SHR) compatible rigs and power conversion turbomachinery. While investment in the sector grew from $22 million in 2018 to $2.2 billion in 2025, the report warns that equipment supply chains could become a bottleneck for national-scale adoption. Developing a domestic supply chain could create over 100,000 jobs in wellfield and plant operations and catalyze manufacturing growth in regions like Louisiana, Texas, Oklahoma, Georgia, New York, North Carolina, and South Carolina. To secure this advantage, the report recommends expanding the 45X advanced manufacturing production tax credit to geothermal and improving data on equipment capacity and production costs.