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Global climate finance reached an annual average of nearly USD 1.3 trillion in 2021/2022, though this represents only 1% of global GDP. Mitigation finance dominates, particularly in energy and transport, while adaptation finance remains critically underfunded and dominated by public actors. Finance is heavily concentrated in developed economies and China, with significant gaps in least developed countries (LDCs) and emerging markets. The report argues that annual needs must increase at least five-fold to avoid the worst impacts of climate change, recommending reforms to international financial institutions and the mobilization of domestic capital.

The report provides a comprehensive analysis of India's path to net-zero, emphasizing the need for a 'people-positive' transition. It examines the historical context of household energy shifts, the potential of emerging technologies like green hydrogen and CCUS, and the critical role of the Reserve Bank of India in mobilizing climate finance. The document highlights regional disparities in renewable energy capacity, particularly in Eastern India, and argues for a strategic green industrial policy to reduce import dependence and create jobs. It also proposes a Global Climate Alliance to facilitate financial and technology transfers between the Global North and South, while calling for reforms in Multilateral Development Banks to better support low-income countries.

The report identifies a fragmented policy environment and significant perceived cost barriers hindering the adoption of net zero carbon buildings in Nigeria. While the country possesses an advanced green bond market and established conventional debt financing, most other financial and policy instruments remain nascent or small-scale. The authors recommend establishing a national net zero carbon building strategy, increasing professional capacity, and ensuring a just transition that links building affordability with local job creation.

The Brazilian sustainable debt market reached USD 33.3bn by H1 2023, with green bonds dominating at 45.2%. Within the agriculture sector, forestry is the most financed land-use category, followed by agriculture and bioenergy. The report highlights the role of sustainability-linked bonds (SLBs) for hard-to-abate sectors and recommends government guarantees and a national taxonomy to scale GSS+ financing.

The report examines how international taxonomies and the national policies of the US, China, and Germany handle fossil fuels to inform the development of a Canadian taxonomy. It finds that while most taxonomies exclude new oil and coal capacity, fossil gas is often treated as a transitional fuel with strict emission limits and phase-out dates (typically 2030–2035). The document highlights the critical role of fugitive methane emissions in determining the actual climate impact of natural gas, arguing that lifecycle assessments are necessary to avoid 'carbon lock-in'. It concludes that Canada's main trading partners are using economic incentives and regulations to reduce hydrocarbon consumption, suggesting that a science-based taxonomy is essential for attracting private capital for decarbonization.

Nigeria faces a significant housing shortage of 17 million units, with a projected need for 700,000 units annually by 2050. The report finds that the policy environment for net zero carbon buildings is fragmented, lacking an overarching national strategy. While some financial instruments like concessional loans and green bonds are well-established, many others remain nascent or unused. The most severe barriers are political (lack of regulations and standards) and financial (lack of affordable finance and awareness of funding). The report recommends five priority areas: embodied carbon and materials, appliances and lighting, cooling, electricity generation, and clean cooking, proposing specific financial and policy pathways to scale these solutions.

Between 2015 and 2020, climate finance for land use in Brazil averaged US$ 6.6 billion per year, dominated by domestic private finance and rural credit. While the crop sector was the primary recipient, the report highlights a significant gap in the proportion of total rural credit that is climate-aligned and notes a decline in public budget allocations for the forest sector.

Between 2015 and 2020, climate finance for land use in Brazil's financial market relied on thematic bonds, BNDES low-cost credit, and CBIOs. Thematic bonds averaged US$ 1.0 billion per year, primarily benefiting the forest sector, while BNDES provided US$ 242 million per year in low-cost credit, mostly for bioenergy. CBIOs, introduced via RenovaBio, saw US$ 126 million traded in 2020. Tracking these flows is hindered by a lack of standardized project-level disclosure in the private market.

The report assesses the alignment between the Colombian and EU taxonomies, finding a high degree of similarity in technical screening criteria for climate change mitigation, particularly in the energy and manufacturing sectors. While both frameworks share guiding principles and a focus on decarbonisation, the EU Taxonomy is generally more detailed regarding climate change adaptation and minimum safeguards. The Colombian Green Taxonomy offers more specific criteria for land-use sectors (AFOLU) and certain waste management activities, reflecting its regional context. Currently, the EU Taxonomy mandates disclosure for large companies and financial participants, whereas the Colombian framework remains primarily voluntary.

The EU Regulation on Deforestation-Free Products (EUDR) mandates strict due diligence and geolocation traceability for specific commodities to ensure they are not linked to deforestation after December 31, 2020. While currently targeting operators and traders, the regulation may expand to financial institutions by mid-2025. The Climate Bonds Initiative is developing transition pathways and certification criteria to help agri-food companies move beyond legal compliance toward best practices in sustainability.

The document outlines the technical framework for certifying low-carbon buildings under the Climate Bonds Standard. It shifts the focus from energy use intensity to emissions intensity, establishing city-specific linear trajectories aimed at net-zero carbon emissions by 2050. The criteria distinguish between new and existing buildings, introducing mandatory Whole Life Carbon Assessments (WLCA) for new constructions to account for embodied carbon. It also provides a guide for Scope 3 GHG accounting across the building value chain, from manufacturers to owners and deconstruction firms.

The report positions the Chief Financial Officer (CFO) as a pivotal figure in the low-carbon transition, responsible for integrating climate risks and opportunities into a company's financial framework. Based on a survey of 50 respondents from 32 entities, it argues that early adoption of decarbonisation strategies provides a competitive advantage and recommends building robust business cases that quantify the cost of inaction. The document highlights the use of sustainable finance instruments, such as green and sustainability-linked bonds, to mobilise capital and signal commitment. Key challenges identified include the calibration of science-based targets and the difficulty of tackling scope 3 emissions, which often represent the majority of a company's carbon footprint.

ClientEarth urges the FCA to implement mandatory sustainability disclosures at the point of listing, aligned with TCFD and ISSB standards, to correct information asymmetry and protect investors from climate-related financial risks. The document specifically advocates for a new 'atmospheric viability' test for fossil fuel companies' reserves in Competent Person's Reports to address stranded asset risks. Additionally, it recommends extending these requirements to the debt market and introducing stricter, contractually binding disclosures for labelled bonds to prevent greenwashing and mispricing of climate risk.

The Corporate Climate Finance Playbook, developed by the Climate Policy Initiative and Salesforce, argues that meeting global climate targets requires corporations to move beyond piecemeal efforts toward an integrated climate finance strategy. The document categorizes financial tools into capital deployment, capital management, and capital raising, providing a decision-making flowchart to match instruments to the innovation stage of a project and the company's risk appetite. It highlights best practices from companies like Autodesk, Microsoft, and Cisco Foundation, emphasizing the use of blended finance to de-risk early-stage technologies and scale existing solutions.

Between 2015 and 2020, climate finance for land use in Brazil averaged US$ 6.6 billion per year, with 95% originating from domestic sources. Rural credit is the dominant instrument, though climate-aligned flows represent only 8% of total rural credit. The crop sector is the primary recipient of funds, and mitigation remains the dominant objective over adaptation. The report highlights a significant decline in public budget expenditures and a growing but still small role for thematic bonds.

The report provides a comprehensive mapping of climate finance for land use in Brazil from 2015 to 2020, identifying an average annual flow of R$ 25.1 billion. It details the roles of domestic and international sources, the prevalence of rural credit as a primary instrument, and the distribution of funds across sectors such as agriculture and forestry. The analysis highlights a significant growth in thematic bonds and a heavy reliance on domestic private resources mobilized by public policies, while noting gaps in international funding and transparency regarding final beneficiaries.

The report estimates that annual climate finance needs will rise to USD 6.2 trillion by 2030 and USD 7.3 trillion by 2050 to achieve Net Zero, while tracked global finance only surpassed USD 1 trillion for the first time in 2022. Transport and energy systems represent the largest investment needs, requiring at least USD 3.2 trillion and USD 2.1 trillion annually, respectively. The study highlights a significant disparity in finance distribution, with 75% of global spend concentrated in East Asia and the Pacific, Europe, and North America. It argues that public finance must act as a catalyst to mobilize private capital, particularly in developing economies where the cost of capital is significantly higher. While private sector commitments are growing—such as the 30 largest banks pledging USD 870 billion annually—the report notes that asset managers and owners have been slower to set quantifiable targets. Key recommendations include aligning stakeholder policies, supporting non-commercially viable technologies like CCUS and green hydrogen, and implementing just transition frameworks.

The report analyzes Indonesia's power sector finance from 2015 to 2021, revealing a significant gap between current renewable energy investment and the USD 16 billion annually required for the NZE 2060 scenario. It highlights a projected annual financing gap of USD 13 billion for renewable generation, particularly in solar and hydro, and recommends policy reforms to divest from fossil fuels and scale up renewable energy infrastructure.

The Climate Bonds Initiative's Hydrogen Criteria define the technical and environmental benchmarks required for hydrogen-related financial instruments to be certified as green. The framework focuses on carbon intensity thresholds, decarbonisation measures, and adaptation and resilience requirements across the hydrogen value chain, from production to storage and delivery.

The sustainable debt market in Latin America and the Caribbean (LAC) reached a cumulative total of USD 154.1 billion by the end of 2022. While the region represents only 4% of global sustainable debt, these instruments account for approximately 21% of the region's total debt volume from 2019 to 2022. The market is led by Chile, Mexico, and Brazil, with a strong presence of sovereign issuers and development banks. Key trends include the rise of sustainability-linked bonds (SLBs), the emergence of 'blue bonds' for ocean conservation, and the development of national taxonomies in Colombia and Mexico to standardize sustainable investments.