联合国贸易发展委员会-条条大路通改革：一个适合为气候融资筹集1.3万亿美元的金融体系

A Financial System Fit to Mobilize$1.3 Trillion for Climate Finance Advance copy Executive Summary In light of the underwhelming provision and mobilization of climate finance for developing countries,this report signals several priorities for systemic reform that can contribute to scaling climate It responds to Decision 1/CMA.6 for a New collective quantified goal on climate finance (NCQG)adopted at the 29th Conference of the Parties (COP 29) to the United Nations FrameworkConvention on Climate Change (UNFCCC) in Baku, Azerbaijan, in November 2024, which callson “all actors to work together to enable the scaling up of financing to developing country Parties Key Messages •Climate finance delivery is not achieving its potential. Despite reaching the $100 billion goal in 2022, climate finance mobilized by developed countriesto support developing countries is primarily delivered as debt through a fragmented architecturewhich hinders access for the most vulnerable countries and does not adequately finance •A reformed IFA is central to reaching climate finance goals. The shortcomings of climate finance support for developing countries are shaped by thebroader limitations of the IFA. Outdated governance structures and policy frameworks shouldbe reformed to enable developing countries to achieve investment-led just transitions supported •Existing proposals offer building blocks for a more comprehensive reform agenda. Momentum for IFA reform has increased in recent years alongside numerous proposals, how-ever, few comprehensively address the structural constraints of the IFA. Efforts to improve thequantity and quality of climate finance can learn from this progress to build consensus around a •The Baku to Belém Roadmap can be a catalyst for this systemic change. Without IFA reform, strategies to achieve the $1.3 trillion climate finance goal risk repeatingpast failures. The Baku to Belém Roadmap can indicate concrete reforms that can accelerateequitable finance delivery and allow every country to meet their climate and development goals. A Framework for Reform 1.Enhance Access to Liquidity and Stability Tools,reducing vulnerability to boom-bust cycles and climate shocks and establishing a fairer global financial safety 2.Scale up Adequate and Predictable Climate Financeto support climate-resilient structural transformation in developing countries, including addressing 3.Rebalance Global Economic Governancewith a more representativeand accountable system that reflects all countries’ interests and List of Tables Table 1International financial architecture reform in the new collectivequantified goal on climate finance..........................................................6Table 2Reform Goals for a Climate- and Development-Aligned IFA....................9Table 3Reform proposals examined................................................................10Table 4Questions...........................................................................................12Table 5Overview of results and proposals summaries.....................................13 List of Figures Figure 1International climate finance to developing countries by source, Figure 2Reform coverage, by issue, by proposal..............................................14 Abbreviations ACFAfrican Climate FoundationAfDBAfrican Development BankCBDR-RCCommon but differentiated responsibilities and respective capabilitiesCOPConference of the PartiesCPIClimate Policy InitiativeCRAsCredit rating agenciesDFIsDevelopment finance institutionsDSAsDebt Sustainability AnalysesERDNCExpert review on debt, nature and climateF2C2Finance Facility against Climate ChangeFfD4Fourth Financing for Development ConferenceFRLDFund for Responding to Loss and DamageGCFGreen Climate FundGFSNGlobal financial safety netGNIGross National IncomeGSL TFGlobal Solidarity Levies Task ForceIBRDInternational Bank for Reconstruction and DevelopmentIFAInternational financial architectureIFFsIllicit financial flowsIFIsInternational Financial InstitutionsIMFInternational Monetary FundLDCsLeast developed countriesMDBsMultilateral development banksNCQGNew collective quantified goal on climate financeODAOfficial Development AssistanceRSTResilience and Sustainability TrustSDGsSustainable Development GoalsSDRsSpecial Drawing RightsSIDSSmall island developing StatesUNCTADUnited Nations Conference on Trade and DevelopmentUNFCCCUnited Nations Framework Convention on Climate ChangeV20The vulnerable 20 group Table of contents Executive Summary...................................................................... Introduction: The Baku to Belém Roadmap in a Broken ClimateFinance Architecture...............................................................................1 Section 1: Reform Goals for a Climate- and Development-AlignedInternational Financial Architecture......................................................3 A fragmented architecture.........................................