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This report by the Climate Policy Initiative analyzes how currency risk—specifically the mismatch between hard-currency debt and local-currency revenues—inhibits climate finance in emerging markets and developing economies (EMDEs). It evaluates standard hedging tools and five innovative models designed to lower the cost of capital and deepen local financial markets to catalyze international private investment.

This report by the Climate Policy Initiative (CPI/PUC-Rio) evaluates the effectiveness of the 'ABC Recuperação' credit line, a subsidized financing instrument designed to restore degraded pastures in Brazil. Focusing on the Cerrado biome for operations between 2016 and 2018, the study uses satellite imagery and econometric analysis to determine if the credit led to actual pasture recovery or land-use changes. The findings indicate that the credit's impact is modest, with little evidence of recovery in severely degraded areas and a tendency for the credit to facilitate the conversion of high-vigor pastures into agriculture rather than restoring low-vigor ones.

An evaluation of the ABC Recuperação credit line in the Brazilian Cerrado reveals very low effectiveness in recovering degraded pastures, with most areas remaining unchanged and some having been deforested prior to receiving funds. While technical assistance significantly improved outcomes, the credit line contributed to only 2.5% of the 2020 recovery goal. The report recommends strengthening post-credit monitoring, improving pre-credit assessments to prevent funding recently deforested land, and integrating credit with technical assistance and risk management tools.

This report by the Climate Policy Initiative examines the role of community-based renewable energy (RE) mini-grids in providing electricity to remote areas of Eastern Indonesia. Through four case studies in East Nusa Tenggara and East Kalimantan, the report identifies community ownership and consensus as critical factors for the success and sustainability of decentralized RE projects, contrasting these with the significant lack of private sector interest due to high costs and perceived risks.

A statement by several organizations urging the G-20, under Brazil's presidency, to operationalize a bioeconomy through high-level principles and increased financing to promote climate and nature-positive economic models.

This policy brief by the Climate Policy Initiative (CPI/PUC-RIO) examines the link between subsidized rural credit and deforestation in Brazil between 2020 and 2022. The analysis reveals that a small number of large properties receive a disproportionate share of subsidized funds while being responsible for significant deforestation, suggesting that current economic incentives are misaligned with Brazil's environmental and climate goals.

A policy brief by CPI/PUC-Rio reveals that 15% of Brazil's subsidized rural credit (R$ 14 billion annually) between 2020 and 2022 went to properties that deforested. This deforestation is heavily concentrated in large estates, with the top 5% of recipients responsible for 74% of the loss. The Cerrado biome is the most affected. The report argues that current restrictions, such as environmental embargos, are insufficient as they cover less than 5% of new deforestation, and recommends that subsidies be granted exclusively to properties with no deforestation.

This report by the Climate Policy Initiative (CPI) analyzes the regulatory framework of the Central Bank of Brazil (BCB) aimed at combating deforestation and ecosystem conversion. It details the BCB's transition toward sustainable finance through the 'Agenda BC#', specifically focusing on the integration of social, environmental, and climate risks into the National Financial System (SFN) and the implementation of strict environmental requirements for rural credit.

The 'Assessing National Enabling Framework Conditions for Urban Climate Finance' is a guide and tool developed by the Cities Climate Finance Leadership Alliance (CCFLA) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). It provides a standardized framework for national governments to evaluate and improve the regulatory, institutional, and financial conditions—referred to as Enabling Framework Conditions (EFCs)—that facilitate subnational governments' access to climate finance.

This report by the Climate Policy Initiative (CPI) and the Institute for Climate Economics (I4CE) examines how public development banks (PDBs) can align their operations with the Paris Agreement. It distinguishes between 'project-level alignment,' which focuses on consistency with national low-emission climate-resilient development pathways, and the 'portfolio-level net-zero' approach common in the private sector. The document evaluates 11 operational benchmarks—such as inclusion/exclusion lists and scenario modeling—and provides recommendations for PDBs to integrate these tools to maximize climate impact while maintaining their development mandates.

This report by the Climate Policy Initiative (CPI) analyzes the regulatory efforts of the Central Bank of Brazil (BCB) to combat deforestation and ecosystem conversion. It details the BCB's integration of sustainability into its 'BC# Agenda', the implementation of social, environmental, and climate risk management for financial institutions, and specific restrictions on rural credit for non-compliant producers. The document also provides context on the drivers of land-use change in the Amazon and Cerrado biomes and offers policy recommendations to further align the national financial system with environmental conservation goals.

The 'Assessing Subnational Enabling Framework Conditions for Urban Climate Finance' guide, developed by the Cities Climate Finance Leadership Alliance (CCFLA) and the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), provides a tool for subnational governments to evaluate and improve the regulatory, institutional, and financial environments necessary to scale urban climate finance.

This research paper develops an econometric climate model to value the ecosystem service of tropical forests in maintaining rainfall patterns necessary for hydropower energy generation, specifically analyzing the impact of Amazon deforestation on the Teles Pires plant in Brazil.

This report by the Climate Policy Initiative examines the landscape of project preparation and finance for net zero carbon buildings (NZCBs) in Kazakhstan and Uzbekistan. It highlights the critical role of building decarbonization in meeting regional climate goals, identifies barriers such as energy subsidies, and maps the activities of 12 international entities providing project preparation support to develop investable project pipelines.

This report provides a preliminary stocktake of G20 members' strategies and practices regarding the bioeconomy to support the Brazilian G20 Presidency's Global Initiative on Bioeconomy (GIB) in 2024. It identifies common thematic axes, suggests high-level principles for a sustainable bioeconomy, and proposes five key themes for a future program of work to foster international cooperation and learning.

This discussion paper by the Climate Policy Initiative examines the financing requirements and barriers for decarbonizing the industrial sector in India, with a specific focus on the iron and steel sectors.

This executive summary details a high-level roundtable convened on March 1, 2024, to establish a climate finance dialogue agenda during Brazil's G20 presidency. The document outlines a roadmap for Brazil to leverage its leadership in the G20, BRICS, and COP30 to reform the international financial architecture, promote 'country platforms' for investment, and address gaps in adaptation and nature finance to support Emerging Markets and Developing Economies (EMDEs).

This case study analyzes the sensitivity of sustainability classifications for rural credit in Brazil, comparing five different taxonomies and initiatives applied to data from the BCB's SICOR system between July 2015 and June 2023.

This report, published by the Climate Policy Initiative in April 2024, outlines a strategic agenda for Brazil to lead global climate finance discussions during its G20 presidency and leading up to COP30. It identifies systemic gaps in climate funding for emerging markets and proposes specific reforms to the international financial architecture, the implementation of national platforms for investment, and the integration of social justice and nature-based financing into the global economic discourse.

This executive summary outlines a report by the Climate Policy Initiative and Hivos Indonesia that assesses the climate finance landscape in Indonesia. It highlights the vulnerability of marginalized communities to climate change and the inadequacy of current top-down financing approaches, proposing a shift toward blended finance and the removal of structural barriers to improve access for these populations.