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The steel industry accounts for 11% of global CO2 emissions, but decarbonization is hindered by financial institutions' reliance on outdated myths. The briefing argues that the next six years are critical for transformation and urges financial institutions to restrict funding for metallurgical coal and coal-based steel projects while increasing investment in fossil-free technologies.

The document argues that the steel sector, which accounts for 11% of global CO2 emissions, can be decarbonized rapidly through technological progress, but is hindered by outdated beliefs among financial actors. It lists ten misconceptions—including the idea that the sector is inherently 'hard-to-abate' or that non-fossil steel is too expensive—and urges financial institutions to stop funding coal-based steel projects in favor of fossil-free alternatives.

The report introduces a machine learning-based approach and a detailed taxonomy to better capture private sector adaptation finance, which is historically under-reported. By applying this new methodology, the Climate Policy Initiative increased its tracked annual average private adaptation finance for 2019-2022 from USD 1.0 billion to USD 4.7 billion.

The briefing argues that the meat and dairy industry employs misleading narratives—such as claims regarding food security, growing demand, and emissions leakage—to distract from the need to reduce livestock numbers and methane emissions to meet Paris Agreement goals.

The 2024 State of Cities Climate Finance report (SCCFR) reveals a significant gap between current urban climate finance flows and the trillions of dollars required for mitigation and adaptation. While 69% of urban climate finance is sourced domestically, international flows from developed to developing economies remain low at USD 12 billion. Mitigation needs are dominated by transport, energy, and buildings, with East Asia and the Pacific having the highest annual requirements. The report advocates for the '4C Urban Climate Finance Agenda'—Commitment, Collaboration, Capacity, and Capital Mobilization—to scale finance and improve data tracking.

The briefing examines how the AIIB uses capital market projects to leverage private finance while bypassing its own accountability mechanisms, specifically citing the Bayfront project as an example where investments enabled fossil gas projects and harmful renewable energy projects.

The research evaluates the characteristics and feasibility of adaptation solutions for mountain regions, finding a strong focus on water-related impacts and ecosystem management. While community involvement is high, the analysis identifies persistent challenges in gender equality, the upscaling of solutions, and long-term planning uncertainty.

The Net Zero Stocktake 2024 finds that while net zero target-setting is increasing among companies, cities, and subnational governments, very few (5% or less) meet all minimum integrity criteria. The report highlights a significant rise in target-setting by Asian companies and notes that while national targets often act as an ambition 'ceiling', some subnational governments in countries like Australia, Germany, and India have set more ambitious targets than their national governments.

The Canadian Association of Physicians for the Environment and other signatories call on Canada to lead efforts at the UN General Assembly and INC-5 to establish a legally binding global plastics treaty. They argue that the treaty must move beyond product controls to include supply-side measures and mandatory national reductions in virgin plastic production to protect human rights and the health of frontline communities, specifically citing the benzene pollution crisis at Aamjiwnaang First Nation.

The world is on track to install 593 GW of solar power in 2024, a 29% increase over 2023. China remains the dominant market, projected to account for 56% of global additions. Growth is widespread, with significant surges in India and the US, and emerging markets like Pakistan and Saudi Arabia showing rapid increases in solar panel imports. This trajectory puts the goal of tripling renewable power capacity by 2030 within reach, provided grid and storage constraints are addressed.

Reclaim Finance analyzed the decarbonization targets of 30 major banks, finding that most are overly complex and fail to link target achievement with actual corporate emission reductions. The report specifically criticizes the use of financed or facilitated emissions, which can be influenced by corporate value changes rather than emissions, and recommends shifting toward targets based on reduced finance for fossil fuel companies, physical intensity for industrial sectors, and absolute emissions without value-based attribution.

Analysis by Climate Central indicates that June-August 2024 was the hottest season on record, with carbon pollution significantly increasing the frequency and intensity of risky heat days globally and in the U.S. Approximately 2 billion people worldwide experienced 30 or more risky heat days made at least three times more likely by climate change. In the U.S., the average person experienced 20 additional risky heat days, with the highest impacts concentrated in the South, Southeast, and Southwest, particularly in Florida and Puerto Rico.

The report finds that June through August 2024 was Earth's hottest season on record, with human-induced climate change significantly increasing the frequency and intensity of extreme heat worldwide. Using the Climate Shift Index (CSI), the analysis shows that one in four people experienced temperatures made at least three times more likely by climate change every day of the season. Global exposure peaked on August 13, 2024, affecting 4.1 billion people. The average person experienced 17 additional 'risky heat days' (temperatures above the 90th percentile) due to climate change. Over 2 billion people experienced 30 or more such days, with extreme concentrations in the Caribbean, Western Asia, Micronesia, Northern Africa, and Southern Europe. Additionally, 72 countries experienced their hottest June-August period since 1970, and 180 Northern Hemisphere cities faced dangerous extreme heat waves that were, on average, 21 times more likely due to human-caused warming.

The document serves as a bridge between the technical, 3,000-page IPCC Sixth Assessment Report (Working Group II) and practical application by distilling its findings on gender, equity, and justice. It emphasizes that effective climate adaptation requires a 'whole-of-society approach' involving governments, civil society, and the private sector. To increase the uptake of inclusive approaches, the brief provides illustrative examples and a companion comic, specifically contextualizing these messages through experiences in Africa, such as childcare programs in Kigali to support women's participation in nature-based solutions.

Demand aggregation consolidates fragmented demand from multiple buyers into a single, larger signal to help suppliers overcome the high costs and risks associated with building low-emissions infrastructure. This process helps bridge the "green premium"—the price difference between conventional and low-emissions alternatives—by providing financiers with predictable, long-term cash flows through collective procurement and advance purchasing agreements. The document highlights the use of "book and claim" mechanisms to allow indirect procurement of environmental attributes when direct physical procurement is not possible. RMI and its partners are implementing this strategy through four specific initiatives: the Sustainable Aviation Buyers Alliance (SABA), the Zero Emissions Maritime Buyers Alliance (ZEMBA), the Sustainable Steel Buyers Platform (SSBP), and a phased approach for low-emissions cement and concrete.

TESS proposes the creation of a global online repository for trade-related policy measures (TrPMs) and the establishment of domestic inter-ministerial coordination mechanisms to address plastic pollution. The organization is developing a guide for World Bank client countries on trade policies for plastic reduction (due December 2024) and a policy paper with QUNO on environmentally sound plastic waste management technologies. TESS also encourages the DPP to support HS code amendments to improve transparency in the trade flows of single-use plastics and unnecessary packaging.

The report finds that synthetic fibres account for 69% of textile production and are projected to reach 73% by 2030. An evaluation of 50 major brands reveals a trend of increasing corporate secrecy, with 54% failing to respond fully to the survey. Most brands (45 out of 50) are categorized as 'trailing behind' or in the 'red zone' due to high synthetic usage and low transparency. The report highlights that brands use tactics similar to the fossil fuel industry, such as citing a 'need for more research' to delay action and using industry initiatives like The Microfibre Consortium (TMC) as a cover for inaction. Furthermore, the report criticizes the reliance on recycled polyester from plastic bottles as a 'false solution' that does not address microplastic pollution. Finally, it notes weak industry support for upcoming EU legislation and the global plastic pollution treaty, suggesting a preference for maintaining the status quo of the fast fashion model.

The briefing highlights three priority areas for the 79th UN General Assembly and Climate Week: the High-Level Meeting on Sea-Level Rise, climate finance negotiations, and the Summit of the Future. It emphasizes the security implications of sea-level rise for Pacific Island states, the critical funding gap for developing nations facing debt crises, and the potential for the 'Pact for the Future' to address the climate-security nexus in UN peace operations.

The document argues for a shift in steel production to reduce the sector's 11% contribution to global CO2 emissions, particularly as demand is projected to rise by 12% to 36% by 2050. It suggests 'green iron corridors'—where ironmaking occurs in areas with abundant iron ore and renewable energy, and steelmaking occurs in demand centers—to achieve cost and energy savings. The report estimates that restructuring half of primary steelmaking to use green iron could save over $25 billion annually for the top 10 importers, and fast-tracking corridors to the EU and Asia could abate approximately 30 million tons of CO2 annually by 2030.

A survey of 23 companies by RMI and the Mission Possible Partnership reveals that airlines and corporate customers are willing to pay a significant green premium for sustainable aviation fuel (SAF) and SAF certificates (SAFc). Airlines showed an average WTP of $6 per gallon, while corporate buyers averaged $300 per ton of CO2 abated. The study finds a preference for waste-based feedstocks and shorter contract durations. These findings suggest that SAF projects, particularly those using the HEFA pathway, could be bankable today by meeting the financial returns required by investors.