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This policy brief examines climate financing mechanisms in Brazil and South Africa, focusing on carbon pricing, green bonds, green taxonomies, and central bank regulations. It argues that these two BRICS nations are well-positioned to lead the Global South in advocating for a reformed global financial architecture—specifically the restructuring of the World Bank and IMF—to ensure more affordable and equitable climate finance for developing economies.

A statement by the Green Economy Coalition's Policy Director calling for the reform of the IMF and World Bank to make the global financial system more inclusive, transparent, and aligned with climate and biodiversity goals.

This briefing, published by the Institute for Economic Justice and endorsed by 74 organisations and individuals, critiques the World Bank's 'Evolution Roadmap'. The authors argue that the Roadmap fails to address the structural inequalities of the global financial architecture and relies too heavily on the 'Cascade' approach—prioritising private finance over public interest. The document proposes a radical shift toward 'public sector solutionism', including the adoption of a human rights policy, the end of fossil fuel financing, and a rethink of how inequality is measured and addressed.