Banks have made headlines in recent years for pledging to help tackle the climate crisis. While they don’t emit many greenhouse gases on their own, banks do finance industries that are rapidly warming the planet — from investing in coal-fired power plants to financing businesses that drive deforestation. That means they can play an essential role in halting climate change by withholding finance from high-emitters and directing more money to green solutions.

The problem is that many banks aren’t living up to their climate pledges. WRI experts analyzed 25 banks’ net-zero commitments and found that, not only are they not aligned with global climate goals, but banks aren’t even on track to meet their targets. Read more.

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Transitioning the global trucking industry from polluting, diesel-burning trucks to clean zero-emission vehicles will be a challenging feat. Electric trucks are expensive to buy and operate, heavy batteries mean they can’t carry as much cargo, and charging infrastructure along long-haul routes is still scarce. But one province in China that leads the country in zero-emissions truck adoption is showing how it can be done. Read more.

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During the first half of 2024, electricity demand in the U.S. saw its biggest year-over-year increase in decades, not least due to record heat driving up air conditioning use and new data centers devouring energy. The good news is that most new power plants now use renewable energy, chiefly solar. But fossil-fuel plants are still being built. And the U.S. faces significant hurdles transitioning the rest of its grid to clean energy. Read more.

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New research shows that African countries spend up to 9% of their GDP, on average, responding to extreme climate impacts like floods and drought. Around the globe, countries that did the least to cause the climate crisis are bearing its worst effects with the fewest resources to address them. As the world prepares for the annual UN climate summit (COP29) this November, WRI experts unpack four things that climate-vulnerable countries urgently need from the international community to help bridge this gap. Read more.