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The report examines the use of blended finance in Colombia to address a structural funding gap for Sustainable Development Goals, focusing on renewable energy, sustainable agriculture, and the bioeconomy. It highlights that while mobilizing private capital is essential, previous blended finance efforts have been limited by a lack of standardization and a focus on isolated transactions rather than structural solutions. The study utilizes 17 semi-structured interviews, a multi-stakeholder dialogue with approximately 40 participants, and a review of global reports to determine how international cooperation, government, and the private sector can effectively mobilize capital.

The report analyzes six public climate finance interventions—ranging from local adaptation grants in Africa and Asia to a debt-for-nature swap in Ecuador—to test a framework for 'transformational' finance. It argues that high-quality climate finance is not defined by the financial instrument alone but by its ability to build an 'enabling environment' and deliver results across project, market, and system levels. Key findings highlight a persistent tension between the scale of finance and the quality of subnational accessibility, as well as significant data gaps in measuring system-level impacts and the depth of integration of equity and justice dimensions.

A WRI study identifies fragmented governance, uneven technical capacity, and limited localized data and finance as primary obstacles to effective climate adaptation in Brazil, India, and Indonesia. The report argues that adaptation must be a 'two-way process' where national resources support local implementation and local priorities inform national decisions. Key recommendations include establishing binding coordination mechanisms, providing differentiated technical support to under-resourced municipalities, and integrating adaptation criteria into fiscal transfers and budgeting systems to unlock finance.

An analysis of 14 major economies outside the traditional UNFCCC contributors reveals that they provided approximately $102 billion in voluntary climate finance from 2013 to 2023. The study highlights a shift toward a multipolar finance reality, where emerging markets and developing economies (EMDEs) are increasingly active, though their contributions remain fragmented in official reporting. The report emphasizes the need for inclusive reporting frameworks and the scaling of triangular partnerships and de-risking mechanisms to mobilize further private capital to meet global climate goals.

The report analyzes the gap between the supply and demand of climate finance in African agrifood systems, drawing on CPI's experience with 23 agribusinesses and 17 finance vehicles. It identifies a systemic misalignment where investors prioritize risk-adjusted returns and export-oriented cash crops, while enterprises often operate across the entire value chain and focus on staple crops essential for food security. The document argues that while enterprise-level technical assistance is helpful, closing the investment gap requires vehicle-level interventions that better price risk and align mandates with market realities. Key findings highlight a geographic concentration of capital in Kenya, Nigeria, and Uganda, and a disconnect between the upstream focus of finance vehicles and the end-to-end operations of agribusinesses.

The GCF Board approved 18 funding proposals totaling USD 960.3 million and accredited 10 new entities. A major outcome was the selection of host cities for regional presence: Panama City (Latin America and Caribbean), Amman (Eastern Europe, Central Asia and Middle East), Nairobi and Abidjan (Africa), and Suva (Pacific). The Board also restructured its committees, approved a training programme, and established a roadmap for the 2028–2031 Strategic Plan.

As of March 31, 2026, the GCF has total pledged amounts of USD 30.0 billion, with USD 24.0 billion in committed funding. The Fund's accredited entity network has grown to 168 entities, with a strong emphasis on Direct Access Entities (DAEs). The portfolio shows a shift toward adaptation, which now represents 59% of funding in grant equivalent terms. The GCF is managing a pipeline of 139 concept notes and 51 funding proposals. However, several projects face implementation challenges, including the Mali solar rural electrification project, which is awaiting formal termination following the government's decision to cancel co-financing.

The GCF Accreditation Panel recommends the accreditation of PT Indonesia Infrastructure Finance (PT IIF) as a national direct access entity in Indonesia for medium-sized projects (loans and guarantees) and small-sized projects (equity), with a capacity to manage high-risk (Category A/I-1) environmental and social projects. While PT IIF demonstrated strong fiduciary capacities in on-lending and blending, as well as robust environmental and social safeguards, the Panel identified gaps in public procurement disclosure, the operationalization of its grievance redress mechanism on its website, and the lack of a formal monitoring and evaluation policy. Consequently, accreditation is recommended subject to the applicant meeting these specific conditions before submitting its first funding proposal.

The report introduces a qualitative framework for public finance providers—including donor governments, MDBs, and DFIs—to evaluate the quality of adaptation interventions. It categorizes quality across three levels: project (direct resilience), market (incentives and scale), and system (structural shifts). The tool uses a three-stage diagnostic (Initial, Progressing, Transformative) across criteria such as climate risk integration, target population reach, and the minimization of maladaptation. The report also includes data analyses showing a disconnect between national adaptation priorities and sectoral ODA flows, particularly in energy and health, and a misalignment between sovereign debt risk and the choice of finance instruments in moderate-risk countries.

The report argues that capital mobilization for African agrifood systems is hindered by a systemic misalignment between the risk-return mandates of climate finance vehicles and the operational realities of agribusinesses. Drawing on a portfolio of 17 finance vehicles and 23 enterprises, the Climate Policy Initiative (CPI) finds that effective investment requires active intermediation, demand-side intelligence in vehicle design, and TA calibrated to specific investor screening criteria. It highlights a particular gap in financing for food crop economies, which are often overlooked in favor of export-oriented cash crops. The report recommends that donors fund coordination infrastructure, integrate pre-investment TA into vehicle structures, and support blended finance mechanisms that combine cash and food crop investments to enhance food security.

African ClimateTech has grown significantly, with funding increasing from $206 million in 2016 to over $1.5 billion in 2025, now accounting for nearly 40% of all disclosed venture funding on the continent. However, this growth is highly concentrated: the top 10 companies raised as much as all other companies combined, and Energy accounts for roughly 65% of total funding. The report argues that the ecosystem is not a single market but a collection of applications maturing at different speeds. Energy Generation has reached 'Early Maturity,' while Mobility & Transport is in 'Late Frenzy.' Conversely, Water Access and Built Materials remain in 'Irruption.' A critical finding is that financial maturity, rather than technological readiness, is the primary constraint, with significant gaps in early-stage equity and working capital. The report advocates for 'tailored capital stacks' that combine grants, equity, and debt based on the specific maturity stage of each application.

The policy brief proposes ten strategic principles for governments to unlock business investment in clean electrification. These include setting clear targets, reforming financial incentives to remove fossil fuel subsidies, modernizing electricity grids, and streamlining permitting processes. The document emphasizes that coordinated international signals and integrated industrial strategies are necessary to reduce policy uncertainty and overcome barriers such as high upfront costs and skilled labor shortages, aiming for electricity to account for approximately 35% of global final energy use by 2035.

The global ocean economy reached USD 2.6 trillion in gross value added in 2020, yet investment in its sustainable transition remains critically low. While tracked ocean finance flows grew to USD 9.18 billion in 2023, this represents less than 2% of the estimated USD 550 billion needed annually by 2030. Financing is heavily reliant on official development assistance (ODA), which accounted for 55% of flows in 2023, but recent ODA cuts by major donors like Germany, the US, the UK, Japan, and France threaten progress. Most funding has historically targeted maritime transport, fisheries, and marine protection, while decarbonisation and adaptation sectors, such as offshore energy and disaster preparedness, remain underfunded. Despite this, investing in the ocean-climate nexus could reduce the 2050 emissions gap by 35% on a 1.5°C pathway and yield global benefits five times the value of the investment.

Africa faces a significant infrastructure deficit, with an annual funding shortfall of US$68–108 billion. The report examines the role of the Programme for Infrastructure Development in Africa (PIDA), the potential of domestic capital—estimated at over US$1.1 trillion—and the challenges of public-private partnerships. It highlights that up to 90% of projects fail before financial close due to poor early-stage preparation, arguing for better project bankability and risk-sharing instruments to attract private investment.

At the 2026 African Development Bank (AfDB) Annual Meetings, Recourse is calling for a shift in development finance to prioritise equitable renewable energy access and a just transition across Africa. The organisation demands a dedicated financing window for decentralised renewable energy (DRE), targeting at least 30% of energy access financing by 2027, and urges the Bank to halt all LNG and fossil gas financing. Recourse also advocates for grant-based and concessional public finance to prevent increasing debt distress and calls for stronger protections for communities affected by energy and extractive projects.

The report finds that while significant financial flows enter the Cerrado, the current financial architecture fails to align agricultural funding with sustainability and zero-deforestation goals. Subsidized sustainable credit represents only 5.7% of total rural credit in the biome between 2020/21 and 2023/24, and is highly concentrated among large producers and a few financial institutions. The Matopiba region is particularly vulnerable, concentrating over 55% of the biome's deforestation (2013–2022) while relying heavily on Constitutional Financing Funds (FCFs), which often lack transparent sustainability criteria. Blended finance instruments show potential through risk mitigation and flexible terms but remain limited in scale compared to the economic incentives driving land conversion. The authors recommend improving transparency via the Brazilian Sustainable Taxonomy (TSB), expanding the role of sustainable credit, and fostering financial innovation to mobilize private capital.

The report argues that public development banks (PDBs)—including national, regional, and multilateral institutions—are uniquely positioned to overcome structural and market barriers to climate risk insurance in EMDEs. It identifies key barriers such as data gaps, underdeveloped local capital bases, and fragmented regulatory frameworks. The document proposes a tiered approach where National Development Banks (NDBs) focus on local market development and project pipelines, Regional Development Banks (RDBs) coordinate risk pooling and shared data infrastructure, and Multilateral Development Banks (MDBs) provide catalytic capital and credit enhancement. Key recommendations include the use of targeted premium subsidies with sunset clauses, the bundling of insurance with loans, and the creation of regulatory sandboxes to foster innovation in parametric insurance.

The report asserts that capital markets are essential for African economies to finance climate adaptation, infrastructure, and demographic shifts amidst declining foreign aid and FDI. It argues that while public equity markets have limited utility for smaller or frontier markets due to high costs and information asymmetries, corporate bond markets and hybrid structures—combining public disclosure with private flexibility—offer more practical pathways. The author emphasizes that macroeconomic stability and pension reforms are foundational to increasing the domestic savings base. The document recommends using guarantees, pooled investment vehicles, and project preparation platforms to increase institutional investor confidence and develop bankable projects in infrastructure, housing, and MSMEs.

The document analyzes a structural contraction in Official Development Assistance (ODA) and a persistent under-allocation of climate finance toward adaptation. It argues that while the sector possesses the foresight to predict these trends, institutional barriers prevent this knowledge from translating into action. The paper highlights the failure of blended finance to scale in high-exposure contexts, the inability of alternative donors like China and Gulf states to replace Western ODA, and emerging risks such as the centralization of risk analytics and sovereign debt traps.

The European Union has legally bound itself to a 90 per cent emissions reduction by 2040, allowing a 5 per cent flexibility through international carbon credits starting in 2031. The author argues that Canada should follow this lead by operationalizing its use of Article 6 of the Paris Agreement and internationally transferred mitigation outcomes (ITMOs). By adopting a model similar to Japan's Joint Crediting Mechanism, Canada could combine climate finance with the export of domestic clean technologies to generate verified credits and open new trade channels. The document suggests shifting Canada's international climate finance from a model based on dollars disbursed to one based on measurable outcomes and technology deployment, citing methane reduction efforts in Chile as a positive early example.