Stephanie Pfeifer is CEO of the Institutional Investors Group on Climate Change (IIGCC), a European-focused investor-led membership organisation.
As world leaders meet in Belém for the so-called Amazon COP, the global financial community should seize the opportunity to declare its commitment to managing the growing investment risks posed by deforestation in the Amazon and beyond.
Besides emphasising their support for a global transition towards sustainable supply chains at the COP30 talks, investors can also help unlock the investment and financing opportunities that such a transition makes possible.
The financial impacts of deforestation-related risk are broad and growing. For long-term asset owners such as pension funds and insurers, exposure to deforestation can affect everything from investment performance to reputational resilience. For investors more broadly, addressing deforestation exposure is increasingly part of fulfilling fiduciary duty in a world with compounding climate- and nature-related risks.
Tech tools to improve supply chain traceability
To that end, many investors are already taking meaningful steps to address deforestation risk.
Some are working directly with portfolio companies to improve traceability, strengthen supply chain policies, and support the economic inclusion of smallholder farmers. Others are using geospatial tools and satellite data to monitor deforestation in real time and inform engagement discussions. There has also been positive momentum in integrating deforestation into risk assessments, stewardship strategies, and exclusions policies.
This work cannot be done in isolation. For investors looking to accelerate action, collaboration will remain key. Global initiatives like the Finance Sector Deforestation Action (FSDA), launched at COP26, have raised the bar of ambition for investors seeking to address agricultural commodity-driven deforestation risks in their portfolios.
EUDR should be implemented without further delays
While previous COPs highlighted the urgent need to halt and reverse deforestation by 2030, only a few countries have taken steps to drive that action through policy.
One of the few jurisdictions mounting a comprehensive approach to deforestation is the European Union, with its Deforestation Regulation (EUDR) – a prime example of ambitious policy that can transform supply chains while protecting company competitiveness.
In its current form, the regulation frames deforestation as a material business risk and safeguards companies taking proactive steps toward deforestation-free supply chains by ensuring that non-compliant companies are penalised for falling short on due diligence. Given the level of ambition, the multiple changes in direction around the implementation of the EUDR have understandably raised concern.
Explainer: What is the TFFF, Brazil’s COP30 rainforest fund?
Last year’s delay of the EUDR was disappointing for many investors, who view the regulation as a critical lever in mitigating deforestation risk exposure. The EU’s recent announcement that it will no longer propose a further one-year delay but instead implement a six-month transition period to ensure the legislation enters into force as planned is a more positive sign.
We’re pleased that the voices of investors and businesses calling for a timely implementation – given the importance of the law and the work done by a number of producer countries – have been taken into account.
Maintaining momentum, beyond policy
Though some provisions of the EUDR still lack certainty, public policy remains integral to redirecting financial flows towards deforestation- and conversion-free production systems.
A clear, well-designed regulatory environment provides investors with the consistency and confidence to scale solutions and make long-term decisions for financial stability and sound risk management. Continued engagement with policymakers is therefore essential, with COP30 providing a crucial platform to advance public-private dialogue on global deforestation.
Big banks’ lending to coal backers undermines Indonesia’s green plans
It is important to remember, however, that regulation is not the only lever for progress. The need for meaningful investor action – and for maintaining momentum – continues.
When IIGCC assumed the secretariat role for FSDA in 2024, the aim was to advance the initiative’s ambitious agenda and mainstream deforestation action across the investment community. As FSDA concludes its four-year term in December, IIGCC will continue this work through the Deforestation Investor Group (DIG) – an investor-led platform that will maintain momentum for multistakeholder action, align with global goals, and be reinforced by IIGCC’s forthcoming guidance on integrating deforestation into net-zero planning.
Ten years on from Paris, forests are firmly a climate issue The first Global Stocktake underscored the urgent need to halt and reverse deforestation and forest degradation by 2030 to keep 1.5C within reach. For the first time, countries were asked to report on forest-related progress, turning pledges into measurable benchmarks and cementing deforestation as central to climate targets.
The conference also built momentum around nature-based solutions, with financial commitments and policy frameworks aimed at protecting tropical forests and empowering Indigenous stewardship. The message was clear: there is no net zero without addressing deforestation.
Now, in the lead-up to COP30, attention is turning to emerging finance mechanisms – such as the Tropical Forests Forever Facility (TFFF) spearheaded by Brazil – that directly target deforestation.
World failing on goal to halt deforestation by 2030, raising stakes for Amazon COP
For the COP30 presidency and delegates, the “Amazon COP” is a clear opportunity to align the climate and biodiversity agendas, reaffirm their interdependence, and strengthen coordination across the Rio Conventions.
With that stage already set, it’s crucial that the financial sector continues engaging and maintaining dialogues with corporates, policymakers, and the wider range of stakeholders to support global efforts to address deforestation. This includes participation in engagement work such as through the DIG.
Progress remains possible, but the window for action is narrowing as deforestation continues unabated. The cost of inaction will far exceed the investment required to build resilience and end deforestation and land-conversion as soon as possible.
The post Investor action is crucial to maintaining progress on deforestation risk appeared first on Climate Home News.
Investor action is crucial to maintaining progress on deforestation risk
Climate Change
Analysis: Solar overtakes gas power in Asia for first time ever
Solar has overtaken gas power in Asia to become the continent’s third-largest source of electricity, according to new analysis by Carbon Brief.
The rapid expansion of solar power in nations such as China, India and Pakistan has seen its annual output increase nearly fourfold since 2020.
Asia accounts for around 60% of the world’s solar-power growth in this period, putting the continent at the heart of the global solar boom.
Coal and hydropower remain Asia’s largest sources of electricity, generating roughly 52% and 12% of the continent’s power each year, respectively.
Yet despite expectations that gas power would undergo “explosive growth” in the region, output has stalled due to supply disruptions, relatively high gas prices and growth in clean alternatives.
In contrast, solar has surged, generating some 1,727 terawatt hours (TWh) of electricity in the 12 months to April 2026.
As the chart below shows, this pushes it just ahead of gas, which generated 1,711TWh over the same period and has remained roughly flat for the past several years.

The milestone reflects wider trends in the global electricity mix, with monthly generation from both wind and solar surpassing gas generation globally for the first time in April 2026.
Asia’s solar expansion has been driven largely by China, which accounts for nearly three-quarters of the growth in the region’s output since 2020.
Record installations in 2025 took China’s cumulative installed capacity to 1.2 terawatts (TW) by the end of the year.
China also dominates global solar supply chains, hosting more than 80% of solar manufacturing capacity.
This means it has played an important role in enabling solar deployment in other Asian countries through cheap solar-panel exports. Amid the energy crisis sparked by the Iran war, Chinese solar exports to Asia doubled to reach a record 39 gigawatts (GW) in March 2026.
Meanwhile, Asian countries have faced a number of challenges in expanding gas-power capacity. Most of these nations are reliant on imported liquified natural gas (LNG) to support their gas-power projects.
Around 81GW of planned gas capacity in Asia was cancelled in 2022 and 2023, amid LNG supply disruptions and price spikes following Russia’s invasion of Ukraine.
LNG import terminals and pipelines have faced delays and cancellations in south Asia and South Korea as a result of rising fuel and construction costs, as well as weak demand for gas power.
Global gas turbine shortages have also delayed plans to build new gas-power plants in Vietnam and the Philippines.
While Asia’s gas-power capacity increased by 22% between 2019 and 2024, gas-fired generation has only increased by a modest 6% over the same period. Existing gas plants are not always operating at high capacities, as gas is outcompeted by other fuels.
These trends are not uniform across the region, with increased generation in some countries – such as China and Taiwan – being offset by declines in others – such as Japan and India.
Although China has nearly doubled its gas -power generation in the past decade, gas supply issues and high prices make it less competitive than coal and renewables.
The expansion of clean energy has also reduced the need for gas-fired generation in many Asian countries. Pakistan’s widely reported “boom” in rooftop solar is one notable example of this trend.
According to the International Energy Agency (IEA), the latest energy crisis has “renewed gas supply reliability and affordability concerns” among gas-importing countries in Asia, many of which are highly dependent on gas flows through the strait of Hormuz.
Methodology
The figures in this article are based on Ember’s monthly and annual electricity data for Asia.
Annual data was used for the year-end data points, as the coverage is more complete compared to the monthly data.
Rolling annual totals based on monthly data were used to interpolate between the annual data points.
The figures in the chart are based on Ember’s definition of Asia, which covers the following countries: Afghanistan, Armenia, Azerbaijan, Bangladesh, Bhutan, Brunei, Cambodia, China, Georgia, Hong Kong, India, Indonesia, Japan, Kazakhstan, North Korea, Kyrgyzstan, Laos, Macao, Malaysia, Maldives, Mongolia, Myanmar, Nepal, Pakistan, the Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Tajikistan, Thailand, Timor-Leste, Turkmenistan, Uzbekistan and Vietnam.
This does not include some countries that are part of the continent of Asia and that use relatively large amounts of gas, such as Iran, Saudi Arabia, the United Arab Emirates (UAE) and Russia.
The post Analysis: Solar overtakes gas power in Asia for first time ever appeared first on Carbon Brief.
Analysis: Solar overtakes gas power in Asia for first time ever
Climate Change
Nearly 100 civil society groups from Türkiye and Australia urge COP31 Presidency to take bold steps to transition away from fossil fuels
Bonn, Germany, Friday 12 June 2026 — A diverse coalition of almost 100 civil society organisations representing Türkiye and Australia have released a joint statement at the Bonn climate conference urging the COP31 Presidency put the transition away from fossil fuels at the centre of the COP31 agenda.
The statement, signed by 94 organisations and addressed to Minister Murat Kurum (Türkiye) and Minister Chris Bowen (Australia), both attending the Bonn Climate Change Conference this week, emphasises that close cooperation between Türkiye and Australia brings a historic opportunity to make international progress in the transition away from fossil fuels, while walking the talk domestically and paving the way to a clean future within their respective borders.
By combining the diplomatic reach of both host nations with the long-standing climate leadership of the Pacific, COP31 should champion the action required to limit warming to 1.5°C.
The statement calls on the COP31 Presidency to:
- Commit to own and advance the just, orderly and equitable transition away from fossil fuels.
- Turn the Just Transition Mechanism – agreed upon at COP30 to enhance international cooperation as well as support and enable equitable and inclusive just transitions – into concrete actions through defined funding, clear timelines, and practical operational details that protect workers and vulnerable communities.
- Enable meaningful progress in international climate finance to advance all pillars of climate action on mitigation, adaptation, and loss and damage, ensuring that “big polluters pay”.
- Rebuild trust in the multilateral process by having a Presidency team that acts as an ‘honest broker.’ This includes protecting the integrity of negotiations from fossil fuel industry influence, which has had a worrying record presence in the last few COPs, and ensuring the full participation of civil society, Indigenous Peoples, women, youth, local communities, and upholding human rights.
The letter also urges Türkiye and Australia to inspire strong global outcomes in negotiations in Antalya in November, by leading by example, developing national roadmaps to transition away from fossil fuels and taking bold decisions domestically.
Shiva Gounden, Head of Pacific, Greenpeace Australia Pacific, said: “The Pacific is at the forefront of global efforts to transition away from fossil fuels. From the beginning, we have worked to advance multilateral cooperation and strengthen the global climate regime — writing the 1.5°C redline into the Paris Agreement, establishing funding for loss and damage, and taking the world’s biggest problem to the world’s highest court. To the COP31 partnership, we bring the experience of 30 years of frontline leadership, the values of reciprocity and collective responsibility, and the warm hearts and unending resolve of our communities. We will continue to be the voice of science, justice and ambition. For us, phasing out fossil fuels and holding the line on 1.5°C is about survival. Together, we can ensure a safer, thriving future for the peoples of the Pacific and for communities worldwide.”
Tanyeli Behiç Sabuncu, WWF-Türkiye Climate and Energy Practice Manager, said: “As the President of COP31, Türkiye should not postpone leaving coal. One-third of the electricity mix in the country comes from it and new coal-fired power plant units are still being planned, despite losing both its economic and social licence. Phasing out fossil fuels is not merely an emission reduction goal. It is also a pathway toward a liveable world for people and nature as well as energy security for consumers and businesses. COP31 presents Türkiye a defining choice: stick to the choices of the past or lead a transformative shift toward a just and clean energy future. Announcing a coal phase-out date would send the clearest initial signal that the country takes its leadership role at COP seriously.
Denise Cauchi, CEO Climate Action Network Australia, said: “The fossil fuel era is ending. The escalating energy crisis is exposing the true costs of fossil fuel dependence—not only through worsening climate impacts, but also through global insecurity, energy price shocks and rising living costs. As the incoming President and President of Negotiations, Türkiye and Australia must put the 1.5°C temperature goal at the heart of COP31, which requires a managed, equitable transition away from coal, oil and gas, backed by finance and supported by a just transition. Australia must lead with credibility. As the world’s third-largest fossil fuel exporter, it needs a clear plan to phase out fossil fuels, including exports, and contribute its fair share of international climate finance.”
ENDS
Photos from the press conference will be added here after the event. The press conference will be live streamed and archived here
Media contact:
Kate O’Callaghan, Greenpeace on +61 406 231 892 (Whatsapp/Signal) or kate.ocallaghan@greenpeace.org
Climate Change
‘A new chapter’: Inaugural National EPA CEO John Bradley faces significant choices on the horizon
SYDNEY, Friday 12 June 2026 — In response to the appointment of the inaugural CEO of Australia’s first National Environmental Protection Agency (National EPA), the following can be attributed to Glenn Walker, Head of Nature at Greenpeace Australia Pacific:
“Greenpeace welcomes the appointment of the inaugural CEO of Australia’s first National EPA as the beginning of a new chapter in the conservation of our world-famous nature.
“Now is a time of environmental crossroads — the inaugural National EPA under new CEO John Bradley’s leadership has a duty to provide robust environmental protection advice to the Albanese Government, and can start by protecting Scott Reef and the World Heritage Great Barrier Reef.
“Mr Bradley has the important task ahead of leading the National EPA’s recommendation on Australia’s largest proposed fossil fuel project, Woodside’s toxic Browse project in Western Australia. Browse threatens Australia’s largest freestanding reef, Scott Reef, and our climate, and must be rejected by any agency concerned with protecting the environment.
“Mr Bradley must also use his new position to crack down on rampant deforestation, which is threatening the Great Barrier Reef and sending our native animals, like the koala, to the brink of extinction in Queensland and New South Wales. As a former head of Queensland’s state environment department, Mr Bradley understands the threat of deforestation, and has a unique opportunity to finally protect the Reef from that threat.”
—ENDS—
Images and videos of deforestation can be found here, and of Scott Reef here.
For more information or to arrange an interview, please contact Emma Sangalli on 0431 513 465 or emma.sangalli@greenpeace.org
‘A new chapter’: Inaugural National EPA CEO John Bradley faces significant choices on the horizon
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