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The 2019 Global Landscape of Climate Finance report by the Climate Policy Initiative analyzes global climate-related primary investment from 2013 to 2018. It finds that while annual climate finance reached record levels, crossing the USD half-trillion mark in 2017 and 2018, current investment levels remain significantly below what is required to meet the goals of the Paris Agreement and a 1.5 ˚C scenario.

This research paper analyzes the USD 18-36 trillion climate investment gap in developing countries and identifies key barriers to scaling finance, such as access to capital and investor skill gaps. It evaluates the roles of various public finance actors—including MDBs, bilateral DFIs, and National Development Banks—highlighting that while NDBs provide the largest flows, they often lack risk mitigation tools. The authors recommend that public actors adopt more flexible capital strategies, harmonize standards, and shift from project-specific finance to broader financial system development to better leverage private investment.

This fact sheet by the Climate Policy Initiative (CPI) analyzes the use of risk mitigation instruments by the World Bank Group (WBG) for climate-related projects. It concludes that while the WBG is a major provider of risk mitigation, these instruments have not been used at a significant scale for climate change, suggesting a need for a formal mandate to increase availability and the use of specific tools like guarantees and index-based instruments.