Our reports

Climate change is a systemic risk that threatens significantly the economic stability, the long-term financial performance of investors’ portfolios and the living conditions of their beneficiaries. For asset owners, limiting climate change is therefore an essential part of fulfilling their fiduciary duty. Consequently, asset owners must use all the [...]

The European Central Bank (ECB) recognizes that biodiversity loss and ecosystem breakdown have disastrous consequences for price and financial stability. But does this translate into concrete policies to protect biodiversity from the financial system? Reclaim Finance investigated whether the ECB monetary and supervisory policies enable the financing of 80 companies [...]

The world's largest banks are moving in the wrong direction, increasing their financing to the fossil fuel sector for the second year in a row, despite soaring global temperatures, and despite the ongoing war in the Middle East which has once again laid bare the economic, environmental and geopolitical [...]

European banks allocated US$41.9 billion to companies developing new gas power plants between 2021 and 2024, despite their claims to support the energy transition. Almost two thirds of this (63%) came from French and UK banks, essentially: BNP Paribas, Crédit Agricole, Groupe BPCE, Société Générale, Barclays, HSBC, and Standard Chartered. These banks are turning a blind eye to the impacts of gas power, which include sharp spikes in electricity prices driven by the high volatility [...]

In 2025, 52% of the costs related to extreme weather events worldwide were not insured and therefore remained the responsibility of those affected, households, local authorities, and public finances alike. In France, the intensification of such events is putting the insurance system at risk. Reclaim Finance has therefore analyzed [...]

Investors have increasingly adopted climate targets in response to pressure to address climate-related financial risks and to transition to a net-zero economy. This report assesses the robustness, ambition, and transparency of these targets across a sample of 83 global investors. We examined four types of investor targets: emissions, alignment, engagement, [...]

While coal use is declining across most high-income countries, South and Southeast Asia remain major hotspots for new projects. Although China still leads globally, nearly all remaining expansion is concentrated in seven key countries — India, Indonesia, Pakistan, Bangladesh, Vietnam, Laos, and the Philippines — where 216 GW of [...]

More than a year after Crédit Agricole announced a measure recognizing the scientific imperative to end oil and gas expansion, Reclaim Finance analyzed the impact this announcement had on the French banking group's activities as a whole. This note focuses on the practices of Amundi, the flagship subsidiary of the [...]

Lloyd's of London, the world’s largest global center for fossil fuel insurance, is bucking the global trend by continuing to grow its fossil fuel business according to new analysis from Reclaim Finance, leaving the Lloyd's marketplace increasingly misaligned with climate goals. Key findings: Growth rate of Lloyd's [...]

Using carbon offsets to shut down coal plants, as proposed by some governments, banks and others, is likely to fail to reduce global emissions. It will likely replicate all the past problems with offsets, including the generation of huge amounts of fake credits, and will allow polluters to continue [...]