Welcome to Carbon Brief’s DeBriefed.
An essential guide to the week’s key developments relating to climate change.
This week
Countries chart path away from fossil fuels
SANTA MARTA SUMMIT: Countries attending a first-of-its-kind summit have walked away with plans to develop national “roadmaps” to move away from fossil fuels, along with new tools to address subsidies and carbon-intensive trade. The first conference on “transitioning away” from fossil fuels, held in Santa Marta, Colombia, from 24-29 April, saw 57 countries – representing one-third of the world’s economy – debate practical ways to move away from coal, oil and gas. Carbon Brief has produced an in-depth summary of the talks.
‘REFRESHING’ APPROACH: Against the backdrop of a global oil and gas crisis, ministers and envoys from across the world sat side-by-side in small meeting rooms to have open and frank conversations about the barriers they face in transitioning from fossil fuels to clean energy. This new format – devised by co-hosts Colombia and the Netherlands – was described as “refreshing” (see below).
NEW SCIENCE PANEL: The event also featured a “science pre-conference” attended by 400 academics from around the world. This saw the launch of a new science panel that will aim to provide quick analysis to nations wanting to accelerate their transition away from fossil fuels. In addition, the academics gathered gave their backing to a new scientific report – first covered by Carbon Brief – advising nations to “halt all new fossil-fuel expansion”.
Around the world
UAE QUITS OPEC: The United Arab Emirates (UAE) on Tuesday said it was quitting OPEC, “dealing a blow to the oil producers’ group as an unprecedented energy crisis caused by the Iran war exposes discord among Gulf nations”, said Reuters.
IMO TENSIONS: With talks still ongoing today at the International Maritime Organization in London, the Guardian reported that “pressure” on the negotiations “appears to be linked to countries that have invested heavily in gas”.
OUTPOWERING TRUMP: US clean-energy installations are on track to hit “another record” this year and account for the vast majority of new power additions, despite facing policy opposition from the Trump administration, reported Bloomberg.
FOREST LOSS SLOWS: The loss of tropical forests slowed last year, “largely due to Brazil’s efforts to curb deforestation in the Amazon”, according to World Energy Institute and University of Maryland data covered by BBC News.
1.8%
The proportion, at most, that global coal-power output is expected to increase this year – tempering claims made by some that the energy crisis could cause a “return to coal”, according to new Carbon Brief analysis.
Latest climate research
- Mass incarceration can be viewed as a “climate justice issue”, as “incarcerated individuals are at a heightened risk of experiencing multiple climate-related events and “carceral infrastructure and policies worsen these impacts” | Environmental Research Letters
- Climate finance can promote stability in “conflict-affected” countries, through “the alleviation of water scarcity and the reduction of fossil-fuel dependence” | Climate Policy
- Land vertebrates will be increasingly exposed to heatwaves, wildfires, drought and river floods over the coming century due to climate change | Nature Ecology and Evolution
(For more, see Carbon Brief’s in-depth daily summaries of the top climate news stories on Monday, Tuesday, Wednesday, Thursday and Friday.)
Captured
China’s exports of the “new three” clean-energy technologies surged by 70% year-on-year in March 2026, reaching $21.6bn, according to new analysis for Carbon Brief’s China Briefing newsletter. Exports of the three technologies – solar cells and panels, electric vehicles (EVs) and lithium-ion batteries – were also up 37% from February, the month before the Iran war. The conflict is one explanation for the surge, as it has caused several countries to emphasise the need to increase non-fossil energy supplies. However, a domestic policy deadline and falling silver prices were also behind solar exports almost doubling, analysts told Carbon Brief.
Spotlight
The inside story of how countries came together in Colombia
This week, Carbon Brief reports on how a new “informal” approach helped countries to make progress on “transitioning away” from fossil fuels at talks in Santa Marta, Colombia.
Over the past few days, ministers and climate envoys from 57 countries have been gathering in Santa Marta, a city along the Caribbean coast of Colombia, in a beach hotel that would not look far out of place in HBO’s White Lotus.
For the first time, only one topic was up for conversation: how to “transition away” from fossil fuels, the main driver of human-caused climate change.
The end result – new plans for national fossil-fuel “roadmaps”, new tools to address subsidies and carbon-intensive trade, and a renewed commitment for countries to keep cooperating on energy transition – has been hailed as a “historic breakthrough”.
From the outset, the summit’s co-hosts – Colombia and the Netherlands – were keen to stress that the meeting would not be a space for more negotiations, but rather a forum for countries and other stakeholders to discuss practical steps to move away from fossil fuels.
This format was widely praised by countries in attendance, who described the conversational atmosphere at the conference as “refreshing”, “highly successful” and a “safe space for discussion”.
Closed-door discussions
The “high-level segment” of the conference was held from 28-29 April.
Following the opening plenary, ministers and climate envoys spent much of the two days in closed-door “breakout sessions”, discussing issues ranging from “planned phase down and closure of fossil-fuel extraction” to “closing gaps in financial and investment systems”.
Carbon Brief understands that each session featured 12 ministers and envoys representing different countries sitting in an inner circle, with an outer circle made up of civil society members and other stakeholders. Each session was led by a different minister, appointed by the co-hosts.
In a departure from UN climate negotiations, the conversations that took place were free-flowing, with ministers and stakeholders given equal opportunities to contribute, observers told Carbon Brief.
All of the sessions were held under the Chatham House rule, meaning discussions were not attributable to individual speakers to encourage more open debate.
UK special representative on climate, Rachel Kyte, was among policymakers praising the informal format, telling a huddle of journalists there was “real value” in speaking freely with other country officials. She added:
“I have to say that it is really nice to sit in a small circle…In a negotiation, it’s very, very fast-moving and transactional. But now we have had two days to think about [fossil-fuel transition issues] and this only.”
Speaking to Carbon Brief, Panama’s special representative on climate change, Juan Carlos Monterrey Gómez, said the format was “groundbreaking”, adding:
“I’m going to be honest. [At] first I was like: ‘What the f*ck am I doing here? I don’t know where this is going.’
“But then, as the workshop started, I realised there were ministers, envoys, civil society leaders and Indigenous people. They put us in a format where we could not open our computers, so we had to speak from our minds and our hearts. That completely flipped my perception. That kind of space I haven’t seen in my 10-year history with the UNFCCC.”
Road to COP31
The findings of this conference are now due to be delivered to the Brazilian COP30 presidency, which is currently preparing a global fossil-fuel roadmap to present at COP31 in Turkey this November.
A large question mark remains over how the outcomes will affect proceedings at COP31, particularly among the more than 130 countries that were not in attendance in Santa Marta.
Co-hosts Colombia and the Netherlands deliberately chose not to invite some countries to Santa Marta, saying the aim of this was to try to keep conversations focused on transitioning away from fossil fuels. (This approach split opinions among country officials and observers.)
During the summit’s final plenary, Dutch climate minister Stientje van Veldhoven stated that, going forward, it was the co-chairs’ wish to create an “open coalition”, including by extending an “invitation for others to join us” in the future.
Watch, read, listen
NATIONS TO WATCH: A comment piece in Climate Home News by decarbonisation analyst Christopher Wright named “six nations” present at the Santa Marta talks that could “shape fossil-fuel futures”.
REFORM’S FOSSIL LINKS: A new investigation by DeSmog detailed how more than two-thirds of the total income of the hard-right Reform UK party comes from fossil fuels.
ARCTIC REPORT: Climate journalist Alec Luhn has won a National Headliner Award for his piece on plans to “refreeze” the Arctic, during which his “right thumb got frostnip from hitting the record button”. Read Luhn’s original article in Scientific American.
Coming up
- 2 May: Niue general elections
- 3-8 May: European Geosciences Union general assembly 2026, Vienna, Austria
- 4 May: International Energy Agency (IEA) global methane tracker report launch
Pick of the jobs
- Lighthouse Reports, editor, climate and environment | Salary: €70,000-€80,000. Location: Amsterdam, Netherlands or remote
- Center for Strategic and International Studies, research associate or associate fellow – climate change and energy security | Salary: $63,000-$70,000. Location: Washington DC
- Quaker United Nations Office, programme assistant, human impact of climate change | Salary: CHF4,262 per month. Location: Geneva, Switzerland
DeBriefed is edited by Daisy Dunne. Please send any tips or feedback to debriefed@carbonbrief.org.
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The post DeBriefed 1 May 2026: Countries chart path away from fossil fuels | China’s clean-tech surge | Global forest loss slows appeared first on Carbon Brief.
A bill, newly passed by legislators, will expand the state’s capacity to enforce limits on health-harming emissions in overburdened communities.
After years of fighting to curb toxic pollution in communities of color, Illinois activists are celebrating a step forward.
In a Years-Long Fight, the Illinois Environmental Justice Movement Gets a Win
The lead attorney for the 22 plaintiffs said the court has “slammed the courthouse doors on children fighting for their lives.”
A federal appeals court has sided with the Trump administration and 19 Republican-led states in a constitutional challenge to several of President Donald Trump’s executive orders designed to boost fossil fuels, concluding that the youth plaintiffs failed to bring a viable case against the federal government. In affirming a lower court’s dismissal of the lawsuit, called Lighthiser v. Trump, the appeals court said that it was not the role of the judiciary to supervise government energy policy.
Appeals Court Affirms Dismissal of Youth Climate Case Against Trump
In 2021, amidst a wave of corporate net-zero targets, a campaign group called Investors for Paris Compliance was set up in British Columbia, aiming to use investor pressure to hold Canadian companies to account on their climate promises.
In the five years since, the group has notched up several wins: pressuring National Bank into providing $20 billion of finance to renewable energy, getting Royal Bank of Canada to improve its green finance labels and persuading 20-25% of investors to regularly back climate proposals at annual general meetings (AGMs) for shareholders.
But last month, the group’s then executive director Matt Price put out a statement saying it was shutting down. Despite some progress, Price explained, his organisation had concluded that “investor accountability has reached its limits”.
Companies and their investors often understand that climate change threatens the economic system, Price said. But, he added, they do not respond adequately because they are worried that, if they do, their competitors will not put in as much effort and could therefore gain a financial advantage.
-
Santa Marta process can confront trade protection for fossil fuels, experts say
Academics at the first fossil fuel phase-out summit urged governments to recognise investor protection treaties as a barrier to the energy transition -
Indonesia’s failing Just Energy Transition Partnership is a cautionary tale
The government has abandoned its plan to shut down a major coal plant, which was a key part of the deal, raising doubts about the donor-backed approach -
After another battery startup bankruptcy, can Europe ever cut reliance on China?
Norway’s Morrow Batteries set out to challenge Chinese producers, but a cash crunch forced it to file for bankruptcy in a setback for European ambitions for clean energy sovereignty
This “tragedy of the commons” situation cannot be fixed by shareholder advocacy, Price said, but instead needs litigation, regulatory action and accountability mechanisms. “Some of our team will take those things on in new initiatives,” he said.
Price’s words echo the findings of a London School of Economics (LSE) report published last month, based on workshops with asset owners and managers in New York, Amsterdam, London and Singapore.
Government policy key
The LSE report noted that “action by investors on climate change is severely constrained by their duties, the limited tools at their disposal and the pathways of technology development”. To be effective, pressure from climate-conscious investors must be coupled with government policy that incentivises green investment and technological innovation, the authors concluded.
An investigation by the Guardian recently found that, despite overwhelming shareholder support for its climate action plan, Australian mining company BHP has carried on buying polluting diesel trucks instead of electric ones. The Australian government subsidises diesel, saving BHP hundreds of millions of dollars a year.
As EU acts to stop greenwash, funds drop climate claims from their names
Lindsey Stewart, director of institutional insights for investment research firm Morningstar, told Climate Home News that investor activism does work but it “doesn’t do everything that people expected it to do towards the beginning of the 2020s”.
“There is a limit to what can be achieved by minority shareholders exercising their votes and engaging with companies. Quite a lot, it does seem, is reliant on the legal and regulatory framework,” he said, adding that the closure of Investors for Paris Compliance shows this “realisation is sinking in a lot more than perhaps it was in 2020, 2021, 2022”.
Decline of investor activism
Stewart said that in the early 2020s, investor activists were pushing companies for “things that were sort of already on the regulatory conveyor belt anyway”, like companies setting targets for their operational (Scope 1 and 2) emissions, disclosing their carbon footprints, and assessing their exposure to risk from climate change.
With this low-hanging fruit picked, green-minded investors have moved on to make demands that are more controversial and have received less support from other investors, he said. He gave examples of just transition reporting, green capital expenditure financing ratios for banks and disclosing emissions from the use of products a company sells, known as Scope 3 emissions.
On top of this, Stewart said, there has been pressure from the “right-wing political establishment in the US” against investors taking climate change into consideration. BlackRock, which manages $9.5 trillion of assets, has walked back its climate commitments after pressure from US Republicans.
More fundamentally, Stewart described the idea that fossil fuel majors would dismantle their oil and gas business and transform into renewables companies as a “pipe dream on the part of environmentalists”. “Why would they have the skill or capability, or even the stakeholder backing, to completely transform a business of that size?” he asked.
Shareholder activism is only possible at privately owned and listed companies, while most investment in oil and gas is now coming from state-owned companies, like Saudi Arabia’s Aramco. In 2025, less than a quarter of investment was from oil majors like BP and Shell.
Business backlash shows power
Yet despite the uphill climb, Mark van Baal defends shareholder activism. He runs an Amsterdam-based campaign group called Follow This, which has tried to get investors to vote for pro-climate resolutions at the AGMs of oil and gas multinationals.
He accepts that success peaked around 2021, but says the effort oil and gas firms are now putting into winning over shareholders and discouraging pro-climate resolutions – which he characterised as “the Empire Strikes Back” – shows the power of shareholder activism, which was previously underestimated.
In January 2024, ExxonMobil sued Follow This, aiming to block the group’s climate resolution. Fearing the case would end up in the Supreme Court, where conservative judges could set an anti-climate precedent, Follow This withdrew the resolution.
But, said van Baal, although the legal battle created a “chilling effect among investors”, it is a “proof point that shareholder pressure works and that they’re really afraid of the shareholders”.
Vote, don’t sell
Stewart and van Baal both agreed that selling, or threatening to sell off shares is not an effective way to change a company’s behaviour.
It allows less climate-conscious investors to buy the shares, they said, adding that there is no evidence that threats to sell shares and therefore lower the valuation over climate concerns have influenced company management.
Van Baal said the share price is set by short-term traders, not long-term shareholders like the pension funds he works with.
How Shell is still benefiting from offloaded Niger Delta oil assets
Nonetheless, investors’ engagement should be forceful, van Baal insisted – and not just within their comfort zone of talking to management about sustainability behind closed doors without voting for it at AGMs. “Shareholder democracy is the only democracy where voting is called escalation,” he said.
The Follow This website says that only investors can stop fossil fuel companies destroying the planet. “Marches didn’t change their minds. Lawsuits didn’t stop them. But shareholders can,” it trumpets.
But van Baal told Climate Home News this wording is “too strong” and may have to be revised, adding that shareholder activism just “fits me more than gluing myself to roads” and is a tactic he “stumbled on” 11 years ago.
Legal, political and investor activism can reinforce each other, he added. When Friends of the Earth sued Shell alleging inadequate climate action, for example, the green group’s lawyers cited the company’s rejection of a Follow This resolution as evidence. “The pressure needs to come from all sides,” van Baal said.
The post Investor climate group closes down, blaming “limits” of shareholder activism appeared first on Climate Home News.
Investor climate group closes down, blaming “limits” of shareholder activism
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