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This report analyzes the integration of open governance principles—transparency, participation, and accountability—within the climate finance system. It finds that while multilateral institutions have consistent approaches, bilateral and private finance governance is less transparent and accountable. Key barriers include the lack of a common definition for climate finance and the fact that final investment decisions often occur without public participation. The report concludes that current international finance lacks sufficient enforcement mechanisms and that improvements must come from domestic laws and institutional policies rather than UNFCCC negotiations alone.