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The report argues that current transition finance frameworks lack the systemic safeguards necessary to prevent carbon lock-in, particularly in hard-to-abate sectors. It proposes moving from asset-level financing to a systemic approach underpinned by Paris-aligned, subnational net-zero pathways. The document examines the gap between corporate transition plans and the requirements for credible transition finance, noting that many high-emitting oil, gas, and agrifood entities lack mature strategies. It advocates for the use of Paris-aligned taxonomies to ensure that use-of-proceeds (UoP) instruments drive genuine decarbonisation without creating 'dead-end pathways'.

The report finds that the UK lacks a robust system for publicly identifying the ultimate beneficial ownership of commercial fishing vessels, with UBO easily identifiable in only 24% of sampled vessels. It argues that current vessel registration and licensing processes do not require UBO disclosure, and the Companies House 'People with Significant Control' (PSC) register is often insufficient due to high ownership thresholds and the use of foreign corporate structures. To combat illegal, unreported and unregulated (IUU) fishing, the report recommends reducing the UBO disclosure threshold to 10% or less, mandating UBO collection during registration and licensing, and establishing a centralised, publicly accessible UBO register for commercial fishing vessels.

The report argues that Canada's historical advantage of low-cost electricity is at risk due to outdated grid infrastructure, cautious energy planning, and policy instability. By comparing Alberta, British Columbia, Ontario, and Quebec with international peers like Texas and Germany, the analysis finds that Canadian grids often under-plan for industrial growth and lag in flexibility and transmission capacity. The document recommends that the federal government support interprovincial coordination, provide targeted funding for grid expansion, ensure a stable Clean Electricity Regulation, and prioritize grid flexibility to maintain industrial competitiveness.

The document outlines a comparative framework using six indicators—energy planning, flexible grid planning, transmission planning, electricity procurement, industrial rate modernization, and climate policy predictability—to assess the competitiveness of jurisdictions including Ontario, Alberta, Quebec, British Columbia, Germany, the UK, Norway, New South Wales, Washington, and Texas.

The document outlines a benchmarking framework used to assess how jurisdictions attract investment in wind, solar, and battery projects. It defines six metrics: energy planning, flexibility planning, transmission planning, electricity procurement, industrial rate modernization, and climate policy certainty. The report provides the specific data sources, scoring rubrics, and calculation methods used to evaluate Ontario, Alberta, Quebec, British Columbia, Germany, the United Kingdom, Norway, New South Wales, Washington, and Texas.

India is uniquely positioned to produce cost-competitive sustainable aviation fuel (SAF) using a power-and-biomass-to-liquids (PBtL) pathway. By combining low-cost green hydrogen—enabled by plummeting solar and battery costs—with abundant agricultural residue, India can produce SAF that is more cost-effective and has lower carbon intensity than competing technologies like HEFA, ATJ, BtL, and PtL. Analysis indicates that a 2030 PBtL project could produce SAF at costs 40% lower than recent fossil jet fuel prices, with parity potentially reached in the 2030s. Beyond decarbonization, this approach reduces dependence on crude oil imports (currently 90% of supply) and mitigates severe air pollution caused by open-field residue burning, which is linked to 44,000 to 98,000 premature deaths annually. The brief recommends government support through first-of-a-kind demonstration projects near Delhi, Pune, and Mumbai airports, the use of trade policies to access EU and UK markets, and the implementation of incentives based on the social cost of carbon and avoided health costs from air pollution.

The report compares two pathways for meeting U.S. electricity demand growth through 2030: one relying on fossil fuels and another on clean energy. It finds that a clean energy scenario reduces the incremental cost of meeting demand by $5.1 billion annually in 2030 and offers greater protection against fuel price volatility. To realize these savings, the authors recommend setting ambitious clean energy targets, updating electricity system planning with market-based assumptions, reducing permitting and interconnection barriers, implementing fuel cost sharing to manage risk, improving grid utilization through technologies like surplus interconnection and high-performance conductors, and harnessing demand-side resources such as virtual power plants and distributed energy technologies.

The report argues that India is uniquely positioned to lead in sustainable aviation fuel (SAF) production via the power-and-biomass-to-liquids (PBtL) pathway. By combining world-leading low-cost green hydrogen (driven by cheap solar power) with an abundance of surplus agricultural residue, India can produce SAF at costs significantly lower than global benchmarks. The analysis shows that PBtL is more resource-efficient and has a lower carbon intensity than other pathways like HEFA, ATJ, and BtL. The report projects that PBtL SAF could reach price parity with fossil aviation turbine fuel (ATF) in the 2030s, providing a hedge against crude oil price volatility and reducing air pollution from crop residue burning. It identifies regions around Delhi, Pune, and Mumbai airports as ideal for first-of-a-kind demonstration projects.

The document outlines a framework for responsible mining of transition minerals, focusing on protecting carbon-rich ecosystems, upholding Indigenous rights through Free, Prior, and Informed Consent (FPIC), and implementing rigorous climate-integrated impact assessments. It advocates for standardized Scope 1-3 emissions reporting, digital traceability, and a shift toward a circular economy to reduce virgin metal demand. Additionally, it proposes equitable benefit-sharing models, such as co-ownership and sovereign wealth funds, to ensure a just energy transition.

The report analyzes three carbon price scenarios for Canada's industrial sector: a flat price (CAD 130/t), a low price (rising to CAD 230/t), and a high price (rising to CAD 380/t by 2040). It finds that a high-price trajectory significantly reduces greenhouse gas emissions and stimulates clean investment with minimal impact on GDP growth. The authors recommend adopting a strong national price trajectory, differentiating performance standard tightening rates based on sectoral competitiveness risks—specifically tightening faster for oil and gas—and implementing complementary policies such as a green industrial strategy and the removal of fossil fuel subsidies.

The 17th edition of the Banking on Climate Chaos report finds that the world's largest banks committed $906 billion to fossil fuel companies in 2025, an 8% increase from 2024. Financing for fossil fuel expansion rose by over 27% to $508 billion. The report highlights a high concentration of finance, with a 'Dirty Dozen' of banks providing nearly 39% of global fossil deals. It also notes a trend of policy backsliding, where banks are weakening climate commitments and abandoning net-zero targets, particularly in the US. The report argues that this financing amplifies energy instability and inequality, especially during geopolitical crises like the 2026 US-Israel war on Iran.

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 presents a business case for transitioning to an electrified economy, asserting that electricity is becoming the foundation for global economic growth. It highlights that electrification is the most efficient route to decarbonization, capable of displacing approximately 60% of global fossil fuel use. The document outlines the benefits of electrification in terms of cost predictability, energy security, and public health, while identifying significant barriers such as distorted market incentives and a global skills gap. It proposes ten policy principles for governments to unlock business investment and introduces the 'Electric Advantage' program to coordinate business leadership in modernizing policy and scaling deployment.

The report outlines a framework for companies in the offshore wind, coastal tourism, shipping, and seafood sectors to track their contributions to halting and reversing biodiversity loss. It emphasizes the use of Monitoring, Evaluation, and Learning (MEL) to reduce business risks and ensure credible ecological outcomes. The guidance distinguishes between pressure indicators (direct company impacts) and state-of-nature indicators (overall ecosystem health), while advocating for a 'seascape approach' to collective monitoring. It also integrates social dimensions, such as human rights and Indigenous Peoples' rights, as essential components of transformative nature-positive actions.

European agriculture's heavy reliance on synthetic nitrogen fertiliser, produced primarily from natural gas, creates a direct link between energy price shocks and food costs. Analysis of 17 EU member states from 2019-2024 reveals that EUR 16.4 billion was spent on fertiliser that was never taken up by crops, with EUR 6.1 billion spent on the embedded natural gas for that wasted input. Environmental damage from synthetic nitrogen application during this period is estimated at EUR 233.7 billion, dominated by water pollution. The report argues that reducing synthetic nitrogen use by up to 43% through precision management and legume integration could save farmers up to EUR 5.08 billion annually and significantly reduce gas dependency. Modeling shows that the post-Ukraine invasion energy crisis pushed wheat prices up by approximately 22%, establishing a lasting structural link between energy and food prices.

The paper examines the UK's Enhanced Trade Partnerships (ETPs), which are non-binding memoranda of understanding that sit between informal commercial meetings (JETCOs) and binding Free Trade Agreements (FTAs). While ETPs frequently reference sustainability and can facilitate 'green' trade and regulatory diplomacy, the author argues they primarily serve offensive trade interests and lack the civil society oversight necessary to prevent 'greenwashing'.

The global ocean economy reached USD 2.6 trillion in gross value added in 2020, yet investment in its sustainable transition remains critically low. While tracked ocean finance flows grew to USD 9.18 billion in 2023, this represents less than 2% of the estimated USD 550 billion needed annually by 2030. Financing is heavily reliant on official development assistance (ODA), which accounted for 55% of flows in 2023, but recent ODA cuts by major donors like Germany, the US, the UK, Japan, and France threaten progress. Most funding has historically targeted maritime transport, fisheries, and marine protection, while decarbonisation and adaptation sectors, such as offshore energy and disaster preparedness, remain underfunded. Despite this, investing in the ocean-climate nexus could reduce the 2050 emissions gap by 35% on a 1.5°C pathway and yield global benefits five times the value of the investment.

The document argues that TotalEnergies SE has misled investors by claiming alignment with the Paris Agreement while continuing to increase fossil fuel production. It highlights the systemic financial risk climate change poses to global portfolios and asserts that TotalEnergies' disclosures—including claims about the role of natural gas as a transition fuel and the 'substitution' argument for continued extraction—are inaccurate. The authors call for an AMF investigation into potential breaches of the AMF General Regulations, the European Market Abuse Regulation (MAR), and the French Monetary and Financial Code.

The letter argues that high-emitting companies, particularly 'Carbon Majors' like TotalEnergies, provide misleading information to investors regarding their alignment with the Paris Agreement while continuing to expand fossil fuel production. It asserts that climate change poses a systemic financial risk, with potential GDP losses of 50% by 2070-2090, and that current economic models underestimate these damages by ignoring tipping points. The authors highlight a 2025 Paris Judicial Court ruling that TotalEnergies misled consumers and call for ESMA to encourage national authorities to take enforcement action against investor-facing greenwashing to protect market integrity.

ClientEarth, Amis de la Terre France, and Notre Affaire à Tous allege that TotalEnergies SE has misled investors by claiming alignment with the Paris Agreement while continuing to increase fossil fuel production. The report argues that such misinformation obscures systemic financial risks, as climate change threatens global economic stability and asset valuations. It specifically challenges the company's claims regarding the role of natural gas as a 'transition energy' and its 'net zero' ambitions, citing a 2025 Paris court ruling that found the company's consumer communications to be misleading.