Reclaim Finance
 
Editorial
 
It's the summer, an ideal time to recharge your batteries, but also to look back on the success of these past six months. Reclaim Finance has prepared for you a selection of our most-read articles and most important news. Let's take stock so we can head back into battle in the autumn ahead of several decisive summits on climate and the future of both humanity and biodiversity.
 
To keep in mind this year
 
 
The UK financial sector is actively undermining Government efforts to phase out coal. UK banks provided $56 billion of support to coal companies between October 2018 and October 2020. 
 
Read the report
 
With RAN, we co-authored the 2021 Banking on Climate Chaos report, revealing that the world's 60 largest banks poured $3.8tn into companies active in oil, gas, and coal since 2016.
 
Read the report
 
 
 
Reclaim Finance and 3 partners have published their first edition of a scorecard on 29 major asset managers. European & US asset managers are ignoring their climate responsibility, with only 25% of their assets covered by coal exclusions.
 
Read the report
 
When is a sustainable taxonomy not sustainable? When it becomes captured by lobbyists from environmentally damaging industries, of course. That is the key takeaway of our new report on the gas and nuclear industries’  lobbying offensive
 
Read the report
 
Our best blogposts
 
 
The new 1.5°C scenario from the IEA marks a turning point: it confirms that the development of fossil fuels is incompatible with our remaining carbon budget.

The EU Sustainable Finance Strategy: Repeating Past Mistakes
With its new sustainable finance strategy, the EU is not taking the necessary step towards the transformation of finance.
 
The analysis of the NGFS scenarios shows that they could cause a slowdown in the fight against climate change and an increase in the associated financial risks.
 
 If this framework sets truly Paris-Aligned goals, it misses the mark by forgetting that phasing out fossil fuel is imperative to limit global warming.
 
Lucie Pinson, founder and director of Reclaim Finance, offers some reflections following shareholders' decision to back Total's so-called 'climate plan'.
  
If this strategy puts an end to decades of blindness to environmental concerns, the actions are largely insufficient: gaps, uncertainties, and slow implementation timeline.
 
Some good news
Take action
 
 
Financial actors only have a few months left before COP26 to adopt policies which meet the scale of the climate emergency. With the Countdown to Glasgow, we are exposing the actors which continue to support the expansion of fossil fuels. Now over to you - call them out on Twitter!
 
Discover the Countdown to Glasgow
 
 
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