From new government targets to rising food prices and courtroom rulings, this past week saw a cascade of developments shaping the future of climate action. Here’s a roundup of the most important stories from around the world.
What new climate policies were announced?
Australia expands renewable energy scheme by 25%
Australia’s federal government has significantly boosted its Capacity Investment Scheme, aiming to underwrite 40 gigawatts of renewable energy generation and storage capacity by 2030. That’s nearly double the capacity of the country’s entire coal fleet. Energy Minister Chris Bowen said the plan was designed to “supercharge” the transition to cleaner power, using competitive bidding and revenue-sharing contracts rather than subsidies. Fossil fuel projects are explicitly excluded.
This came as UN climate chief Simon Stiell warned that Australia risked multi-trillion dollar GDP losses and “mega droughts” if it failed to adopt more ambitious emissions targets for 2035. He called for a 65 to 75% reduction from 2005 levels. Australia’s current target is a 43% cut by 2030.
Australia Senate affirms net zero by 2050
In a related move, Australia’s Senate voted down a private motion to repeal the country’s net zero emissions target by 2050. The rejection, by 39 votes to 7, was interpreted as a firm message to domestic and international observers that the country’s long-term climate goals remain in place.
ICJ issues historic climate accountability ruling
The International Court of Justice issued a landmark advisory opinion stating that governments and corporations have a legal obligation to align their emissions policies with the 1.5 °C temperature limit under the Paris Agreement. While not legally binding, the opinion positions climate action as a human rights imperative and opens the door to increased litigation and policy reform, especially in countries with high emissions.
Europe builds climate data independence
In a strategic move to safeguard climate forecasting capabilities, European governments announced plans to reduce their reliance on U.S. data sources like NOAA and NASA. Initiatives include expanding Europe’s marine monitoring systems and archiving vulnerable datasets. This comes amid U.S. budget cuts to environmental science agencies, which could disrupt global climate models.
How is finance shifting in response to climate risks?
Barclays quits UN climate banking alliance
Barclays has withdrawn from the UN-backed Net-Zero Banking Alliance (NZBA), citing a loss of confidence in the alliance’s ability to drive progress. The decision follows similar moves by HSBC and several U.S. banks. Although Barclays insists it remains committed to achieving net zero by 2050, campaigners said the move raises questions about the banking sector’s willingness to work collectively on climate goals.
ECB to integrate climate risk into lending operations
The European Central Bank confirmed that, starting in 2026, it will consider climate risk when valuing collateral for loans to commercial banks. Assets with high climate exposure may be subject to discounts, effectively making it more expensive for banks to rely on carbon-intensive holdings. ECB board member Isabel Schnabel said the change would “make the financial system more resilient” to climate shocks.
UK universities launch fossil free bond fund
A coalition of 70 UK universities, including Cambridge, Oxford, and Edinburgh, has committed £500 million to a new ethical bond fund that explicitly excludes fossil fuel-linked issuers. Developed in collaboration with Bloomberg, the fund targets fixed-income investments aligned with a 1.5 °C pathway, acknowledging that the bulk of fossil financing now comes from debt markets.
What climate impacts dominated headlines?
Wildfires ravage the Mediterranean, storms slam Asia
Severe wildfires have swept across parts of Turkey and Cyprus, killing multiple people, destroying homes, and triggering mass evacuations. At the same time, tropical storms and monsoon rains hit Vietnam, South Korea, and the Philippines, flooding streets and causing dozens of deaths. These events reflect the growing volatility of global weather patterns under climate stress.
Study warns of Amazon rainfall collapse from ocean current shift
New research published in Nature suggests that even a modest slowdown of the Atlantic Meridional Overturning Circulation (AMOC) could reduce rainfall in parts of the Amazon by up to 40%. This would have drastic effects on regional ecosystems and global carbon cycles. The study used data covering the past 17,000 years and raises new alarms about potential climate tipping points.
UK warned of ‘climateflation’ and rising food costs
A report from the Autonomy Institute predicts that climate-related supply disruptions could push UK food prices up by more than 34% by 2050. The hardest hit would be low-income households, potentially facing annual food bills over £1,200 higher. Without state intervention, around one million people could be pushed into food insecurity.
Extreme weather fuels global food inflation
A separate Financial Times analysis links sharp rises in rice, onion, and wheat prices to a cascade of climate-related crop failures and floods. The data shows food inflation is particularly severe in equatorial regions, where climate shocks are now occurring with increased frequency.
And finally…
Controversial U.S. climate report draws backlash
A new report from the Trump-aligned U.S. EPA has been slammed by scientists for misrepresenting climate science and promoting the repeal of the 2009 “endangerment finding” that underpins U.S. carbon regulation. Researchers and environmental advocates called the document “a farce” and warned it could erode legal protections for clean air and emissions control.
The report is currently open for public comment. Critics say its claims contradict overwhelming scientific consensus and could undermine domestic and international climate credibility.
