Fossil fuel companies must be held responsible for the extreme heat gripping Europe by paying permanent windfall taxes to help cover the mounting health costs. A new study by World Weather Attribution found that climate change is “unequivocally” the driving force behind Europe’s record-breaking heatwave.
As G7 leaders depart Évian-les-Bains, 350 says the summit has once again proven that the G7 is not fit for purpose and is a forum that exists to protect the interests of rich countries and fossil fuel companies rather than to deliver the rapid, fair transition the world urgently needs.
New figures from the Organisation for Economic Co-operation and Development show that climate finance provided and mobilised by developed countries rose to USD 132.8 billion in 2023 and USD 136.7 billion in 2024. While the figures suggest an upward trend, campaigners warn that the headline increase mask deeper concerns about adequacy and overall reduced aid.
Decarbonization, renewable expansion and emissions reduction became the primary benchmarks of success. Energy was framed largely as an environmental issue, with progress measured by how quickly systems could move away from fossil fuels. That framing is now evolving.
Soaring prices for fuel, fertilizer and food could be the last straw for millions of families in the global South already pushed into poverty by climate change. Governments must act now to stop oil and gas companies profiting from the war— by taxing their windfall profits to finance protections for ordinary people.
The new plan, the first update since 2008, sets out Brazil’s pathway to cut emissions by up to 67% by 2035 and reach net zero by 2050, with a continued focus on ending deforestation, a major driver of emissions in the Amazon. However, campaigners say the plan lacks the ambition needed to rapidly transition away from oil, gas and coal, particularly as Brazil remains one of the world’s top emitters.
