Climate decision-making requires acting on long-term scientific signals with imperfect estimates of financial and societal impact, sometimes well before markets fully price in the risks. Leaders make strategic choices under this uncertainty, which may only become visible to the broader market years later, writes Dr Sarah Kapnick, Global Head of Climate Advisory, Commercial & Investment Bank, J.P. Morgan.
Features
Canada’s Carney launches C$3.8bn strategy to protect nature
To protect Canada’s lands and waters, the Prime Minister, Mark Carney, has launched 'A Force of Nature: Canada’s Strategy to Protect Nature'. With an investment of C$3.8bn, Canada’s new nature strategy will protect and restore critical habitats, ensure industrial strategies complement our conservation efforts, and mobilise new capital for nature.
Hormuz shipping disruptions raise risks for energy, fertilizers and economies
UN Trade and Development (UNCTAD) has released a rapid analysis – Strait of Hormuz disruptions: Implications for global trade and development – examining the implications of recent disruptions to maritime traffic in the Strait of Hormuz, one of the world’s most critical trade corridors.
Europol: large-scale operation targeting waste and pollution crime
Europol has successfully coordinated a large-scale operation targeting organised crime networks involved in waste and pollution crime. The global operation, code-named ‘Custos Viridis’, took place between January and December 2025 on five continents, with Europol working alongside partners from 71 countries and numerous international organisations.
IPBES: businesses can be positive agents of change
Every business depends on biodiversity, and every business impacts biodiversity. The growth of the global economy has been at the cost of immense biodiversity loss, which now poses a critical and pervasive systemic risk to the economy, financial stability and human wellbeing. This is a central finding of a report published by the Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES).
Updates
Energy
First hydrogen transmission network operator on path to independence
The European Commission has issued a positive opinion in the process of certifying GAZ-SYSTEM as a hydrogen transmission network operator. The company is the first in Europe to undergo the certification procedure in this area, securing confirmation of compliance with EU regulations. This is the next big step in building a new energy market and confirms the company’s role in the energy transition taking place in the region.
The EU has cut its greenhouse gas emissions by 40% since 1990
The European Union's greenhouse gas emissions fell a further 3% between 2023 and 2024, bringing the EU’s total emission reductions to 40% below 1990 levels, according to official EU data sent to the United Nations Framework Convention on Climate Change and a European Environment Agency (EEA) analysis. The EU greenhouse gas inventory was prepared and submitted to the UN body by the EEA on behalf of the EU on 15 April.
Flight cancellations in Europe possible because of a lack of jet fuel
The International Air Transport Association (IATA) has issued a statement saying that the International Energy Agency's assessment of potential jet fuel shortages is sobering. "We have also estimated that by the end of May we could start to see some cancellations in Europe for lack of jet fuel. This is already happening in parts of Asia. Along with doing everything possible to secure alternative supply lines, it’s important that authorities have well-communicated and well-coordinated plans in place in case rationing becomes necessary, including for slot relief,” said Willie Walsh, IATA's Director General.
Oil demand set to decline the sharpest since Covid cuts
Oil demand is expected to contract by 80 kb/d this year, as the Iran war upends the International Energy Agency's (IEA's) global outlook. This is 730 kb/d less than in last month’s report and a forecast 1.5 mb/d 2Q26 decline would be the sharpest since Covid-19 slashed fuel consumption. Initially, the deepest cuts in oil use have come in the Middle East and Asia Pacific, mainly for naphtha, LPG and jet fuel. However, demand destruction will spread as scarcity and higher prices persist.
New approaches needed to address supply chain risks for rare earth elements
Rare earth elements are moving rapidly to the forefront of global policy making for energy, transport, advanced manufacturing and digital technologies as demand continues to expand while supply chains remain highly concentrated, according to a new International Energy |Agency (IEA) report developed to inform G7 discussions this year.
EIC awards €118m to 30 breakthrough research projects
The European Innovation Council (EIC) has selected 30 new projects under the 2025 EIC Pathfinder Challenges Call for cutting edge research projects delivering breakthroughs in four strategic areas: biotech for climate resilient crops and plant-based biomanufacturing; generative-AI based agents to revolutionise medical diagnosis; robot collectives; and waste-to-value devices - circular production of renewable fuels, chemicals, and materials.