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The document advocates for a shift in global climate finance from centrally managed models to a paradigm where national funding entities in developing countries identify needs and manage resources. It argues that local institutions are best equipped to handle the complex financial requirements of mitigation and adaptation and to mainstream these activities into national development strategies. The brief surveys various existing and emerging funds in countries such as Brazil, China, Indonesia, and Bangladesh, highlighting their diverse governance structures and funding sources. It concludes that while many countries are innovating, there is a significant need for capacity development to manage the intricacies of climate finance, and that international institutions should transition to a supportive role focused on technical assistance and risk mitigation.