Reviewing the week’s climate news, it’s easy to sink into despair. Each day brings new stories of death and destruction from human-driven heating—floods, fires, droughts, and deadly heat. The risks are cascading, compounding, and concurrent. Governments continue to fall short of their promises to cut fossil fuels. Some, like Canada, are even doubling down—pursuing new pipelines and LNG projects just when we most need to move off them.

And yet, there is hope. The paradox of this moment is that while climate policy may be stumbling, the climate economy has become unstoppable. The clean energy transition is no longer a distant vision but a reality accelerating under its own momentum. Investment in renewables already outpaces fossil fuels two to one. Solar and wind are now the cheapest sources of power in most of the world, making them the default choice for new generation. Electric vehicles are surging across global markets. The money is flowing into clean energy because it makes business sense—and no government, no matter how determined to prop up the past, can turn this ship around. It may not be moving as fast as we need, but the direction is irreversible. The fossil era is in retreat, and the clean economy is rising.

Hope is also visible in people. In New York, Climate Week opened with record turnout after fears the event might not happen. On Sunday, U.S. activists held more than 450 rallies to celebrate the growth of solar power and efficiency. On Saturday, thousands marched in Toronto, Montreal, and Vancouver, demanding that our governments make climate change their top priority. This persistence shows that public support for action remains resilient and strong.

That matters because physics doesn’t care about politics. This past summer of killer heat, smoke, fire, and flood may be the best we will see for the rest of our lives if we don’t act. But the hope is real: in the economy, in technology, and in people. The clean energy transition is underway, and it cannot be stopped. The tools to protect our common home are already in our hands. The only question is whether we will move fast enough to use them—before the window closes.

The Big Picture

This week felt like “back to school” for government, with Canada’s Parliament resuming and the UN General Assembly convening. The new legislative session sparked some sharp reflections on the state of the climate crisis.

• Stop with the ‘new normal’ already – National Observer – September 12
• It Isn’t Just the U.S. The Whole World Has Soured on Climate Politics. – The New York Times – September 16
• New York readies for record Climate Week despite Trump chill factor – Reuters – September 20
• ‘Something is working’: UN climate chief optimistic about green transition – The Guardian – September 20

Canada Policy

A new report predicts that Canada is unlikely to meet its 2030 climate target because emissions from oil and gas, especially from oil sands, continue to increase. Currently, Canada is on track for only a 20–25% reduction by 2030, far short of the legally required 40–45%. Meanwhile, news broke that another BC-based LNG project — the Ksi Lisims LNG project – has been approved, and yet another is being promoted in Newfoundland. All of these developments come amid increasing criticism of the Carney Government’s efforts to boost Canada’s fossil fuel sector.

• Pumped-up Alberta oil and gas sector sinks Canada’s climate targets – National Observer – September 17
• In an unprecedented warning, leading climate think-tank says Canada won’t meet 2030 climate target – CBC – September 18
• A fork in the road for the Canadian climate change discussion – Corporate Knights – September 17
• Former Environment Minister Fears Mark Carney’s Climate Plan Won’t Lower Emissions – Toronto Star – September 17
• Thousands rally in Toronto to ‘draw the line’ against PM Carney agenda – CBC – September 20
• B.C. approves massive Nisg̱a’a-led LNG project on the north coast – The Narwal – September 15
• Canada calls this newly approved LNG project green. For now, it will run on fossil fuels – The Narwhal – September 17
• Analysis: Carney’s red tape narrative doesn’t hold up – National Observer – September 12
• Carney must deliver both economic growth and climate action – National Observer – September 16
• Canada negotiates cost to make Petronas-Shell LNG expansion greener – The Edge Malaysia – September 14
• Report Calls Trans Mountain a ‘Red Flag’ for Future Subsidies After Price Rises 584% – The Energy Mix – September 16
• Halt LNG Expansion Until Health Risks Studied, Say Doctors – The Tyee – September 11
• Is there demand for LNG? Researchers weigh in on viability of Fermeuse Energy’s plan – CBC.ca
• Ottawa working toward pipeline, oil sands growth with carbon capture project – The Globe and Mail
• Canada could soon add a major link in the domestic EV supply chain – Corporate Knights – September 19

Economic Impact

Forecasts show insured losses could double within a decade, prompting warnings that Canada faces a looming financial shock—one that could trigger real estate devaluation, mortgage defaults, and wider financial contagion. Meanwhile, new analyses highlight billions in losses from recent heatwaves in the EU and Bangladesh.

• Canadian insurers need to get real about climate damages – Corporate Knights – September 17
• Europe’s summer of extreme weather caused €43bn of short-term losses, analysis finds – The Guardian
• Rising heat cost Bangladesh $1.8 billion last year, says World Bank – Reuters – September 16

US Policy

The U.S. National Academies of Sciences, Engineering, and Medicine released a report confirming unequivocally that human emissions are driving climate change, already harming Americans’ health and welfare, and worsening with every ton of greenhouse gases emitted. The findings directly rebut a recent Energy Department report downplaying climate risks—even as the U.S. government continues to undermine climate action at home and abroad. Meanwhile, rallies in support of clean energy were planned nationwide for Sunday.

• Climate change ‘beyond scientific dispute,’ National Academies report says – Politico – September 17
• ‘Sun day’: US climate activists to rally for clean energy amid Trump attacks – The Guardian – September 18
• Exxon seeks US political help in call to quash EU climate law – Reuters – September 18

COP

After releasing a report forecasting the severe consequences of climate change on the country, Australia announced a target to cut emissions by 62% to 70% by 2035, disappointing many critics who argued for a 75% reduction goal.  It’s now even more likely that the EU will fail to agree on its 2035 target before COP.  As more of the world’s hope for climate leadership is pinned on China, observers are setting low expectations for the anticipated announcement of their 2035 target next week.

• Millions of Australians at risk from rising sea levels and heat deaths could soar, landmark climate report warns – The Guardian – September 15
• Australia warns of cascading climate risks ahead of emissions target announcement – Reuters – September 15
• Australia’s watered down emissions target draws ire of environmentalists – Reuters – September 18
• Albanese unveils ‘responsible’ new climate target to slash emissions over next decade – The Guardian
• EU set to miss U.N. deadline for new climate targets, draft shows – Reuters – September 15
• EU set to miss UN climate deadline amid internal divisions – Reuters – September 18
• Sweden and Finland urge revision of EU’s forestry climate targets – Reuters – September 16
• China’s former climate envoy to meet with EU to revive flailing UN pact, sources say – Reuters – September 15
• Don’t fret over China’s new climate targets – The Economist – September 18

Fossil Fuels

The IEA’s updated long-term oil and gas demand forecast reignited the chicken-and-egg debate: climate advocates point to its finding that no new development is needed if countries honour their climate policies, while industry boosters insist expansion is essential if they don’t. At the same time, oil companies, facing weak prices and oversupply, announced sweeping layoffs—protecting profits but further eroding their claims as engines of job growth.

• IEA reiterates ‘no new oil and gas needed’ if global warming is limited to 1.5C – Carbon Brief – September 16
• IEA Reverses Course on Oil and Gas Investment – Oil Price.com – September 16
• U.S. Oil Patch Sheds Jobs as Producers Face Weaker Prices – Oil Price.com – September 13
• Job Cuts Rock Global Oil and Gas Sector – Oil Price.com – September 10
• Fossil-fuel firms receive US subsidies worth $31bn each year, study finds – The Guardian – September 9

Renewable Energy

Clean energy momentum is accelerating worldwide. In the U.S., job growth and record gains in states like Texas and California clash with federal efforts to tilt policy back toward fossil fuels. Canada faces surging electricity demand that could spur a massive renewables buildout, while India’s falling power-sector emissions and record-low solar-plus-storage bids show how clean energy is outcompeting coal. Across the globe, innovation continues to push the sector forward.

• Trump policies threaten US clean energy jobs engine, report says – Reuters – September 19
• Texas and California widen clean power lead over rest of US – Reuters – September 19
• US offshore wind farm projects – Reuters – September 16
• India’s power-sector CO2 emissions fall for second time in over four decades, report says – Reuters – September 17
• Central Indian state secures record-low price for solar-plus-storage power project – Reuters – September 20
• Surging power demand in Canada is set to turbocharge a renewable energy rebound – National Observer – September 16
• Canada, N.S., take steps toward offshore wind – CTV News – September 20
• Novel project in California has solar panels stretching across water canals – Corporate Knights – September 15
• France sets new world record by keeping a fusion reactor running for 22 minutes – Earth.com – September 15
• The power give and take of electric school buses – National Observer – September 12

Finance

Canada’s banks are financing fossil fuels at twice the rate of clean energy, even as global capital shifts toward sustainability. Investors are increasingly wary of companies without credible climate strategies, while in the U.S., new policies are making it harder to access information on corporate climate risks or press management for change.

• Which Canadian banks financed the most fossil fuels or renewables last year? – CBC – September 19
• Robeco Awarded $18 Billion Mandate for Dutch Pension Fund’s Shift to More Sustainability-Focused Strategy – ESG Today – September 15
• Macquarie Raises Over $3 Billion for Energy Decarbonization Fund – ESG Today – September 19
• Weakening net zero policy ‘will spook investors’, warns UK’s climate adviser – The Guardian – September 15
• Texas AG probes proxy advisers Glass Lewis, ISS amid ESG backlash – Reuters – September 17
• BlackRock, Vanguard scale back company talks as new guidance bites – Reuters – September 19

Transportation

Two initiatives to curb emissions from international shipping and air travel are hoping to advance despite pushback. Together, these sectors produce about 8% of global emissions—enough to rank as the world’s third-largest emitter after China and the U.S.—yet their pollution falls outside national accountability frameworks.

• Global emissions deal a priority for airlines at UN aviation assembly – Reuters – September 17
• Top shipping players want overhaul of UN ship fuel emissions deal – Reuters – September 18

Business Emissions

Despite gloomy headlines about faltering national climate policies, a new Bain study underscores the rising strength of the global climate economy: more companies are shifting spending to sustainable suppliers and cutting ties with those that aren’t. At the same time, major firms are locking in large renewable power contracts and carbon removal off-take deals to shrink their footprints—even as questions grow over the durability of carbon capture solutions.

• Half of Corporate Buyers Spending More with Sustainable Suppliers – and Plan to Drop Unsustainable Ones: Bain Survey – ESG Today – September 17
• Microsoft Signs $6 Billion Deal for 100% Renewable Energy-Powered AI Computing Capacity – ESG Today – September 18
• Mercedes-Benz to Build One of the Most Powerful Wind Farms in Germany – ESG Today – September 18
• Schneider Electric Signs Long-Term Carbon Removal Agreement with Climeworks – ESG Today – September 19
• Big companies have embraced the wrong kind of carbon removal, new report says – Corporate Knights – September 10

Legal Challenges

Canada’s new greenwashing laws have drawn sharp criticism from business, but the country’s largest securities regulator has now launched its first enforcement action in a case that seems to highlight exactly why the rules were needed.

• Purpose Investments Rapped by Securities Watchdog in Greenwashing Case – Bloomberg.com – September 12

Extreme Heat

A new study concluded over 24,000 people died in Europe this summer from extreme heat, a staggering toll that included Spain’s hottest summer on record, with three heatwaves lasting 36 days and temperatures soaring past 45°C.

• Human-Caused Warming Tripled the Death Toll of European Heat Waves This Summer, New Report Shows – Inside Climate News – September 17
• Climate Change’s Toll in Europe This Summer: Thousands of Extra Deaths – New York Times – September 17
• Spain sweltered through hottest summer on record in 2025, weather agency says – Euronews.com – September 16
• Spain’s 2025 summer was hottest on record, state weather agency says – Reuters – September 16

Wildfires

After a summer of record wildfires, awareness is growing of the deadly toll of smoke pollution and the urgent need to protect populations. The risks are compounded by rapid urban expansion into the wildland–urban interface, where the likelihood of property loss and human casualties is rising sharply.

• Wildfire Smoke Will Kill Thousands More by 2050, Study Finds – The New York Times – September 18
• Building to the forest’s edge fuels fire danger – National Observer – September 9

Disease

A provocative article finds fossil fuel air pollution causes millions of deaths and trillions in economic damage each year. Other industries—tobacco, opioids—have been held liable for the harm their products caused. Could fossil fuel companies soon face lawsuits strong enough to drive them out of existence?

• What ‘Chimney Sweep Testicle’ Can Teach Us About Fossil Fuels’ Staggering Health Consequences – Desmog.com – September 12