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The report finds that climate risk is increasingly viewed as a material financial risk rather than a niche ethical concern, driving asset owners to improve governance and risk management. While 67% of the sampled asset owners have divestment policies and many are adopting TCFD-aligned reporting, there is a significant gap between public and private sector disclosure. Most asset owners focus on long-term risks and equity portfolios, with limited progress in quantifying risks or performing scenario analysis across all asset classes.

The document demands that AXA cease providing insurance for new oil and gas projects, divest from unconventional hydrocarbons, and adopt a stricter definition of the Arctic region. It specifically calls for AXA to vote against Total's climate strategy, divest from Fortum due to pro-coal lobbying, and implement an exclusion policy for soy traders linked to deforestation in the Cerrado.

The document identifies 39 French financial institutions committed to phasing out coal by 2030 in OECD and European countries and by 2040 elsewhere. It further specifies that 25 of these actors require their clients to adopt exit plans, with 15 setting a deadline of late 2021 for such plans.

Reclaim Finance critiques the updated NZAOA Target Setting Protocol for failing to align with the IEA net zero scenario, specifically regarding fossil fuel phase-out dates and the lack of rigorous engagement standards. The organization argues that the Protocol contains loopholes for coal plants under construction and lacks clear requirements for absolute emission targets and Scope 3 inclusion. Reclaim Finance recommends a full coal exit by 2030 in OECD countries and 2040 globally, an immediate end to oil and gas supply project support, and the implementation of transparent, time-bound engagement escalation policies leading to divestment.

The document details the reactions of eleven major European banks to a report on fossil fuel asset exposure. It provides specific 2019 data on fossil assets and equity for each bank, calculating a risk ratio. While some banks like BNP Paribas, Société Générale, and BPCE provided detailed rebuttals or highlighted their transition policies and green financing, others, such as Deutsche Bank and Santander, declined to respond. The banks generally contest the report's methodology, arguing that it ignores portfolio selectivity, client transition strategies, and the broader solvency of banking groups.