Plataforma CIPÓ has just launched an expanded version of the policy brief “Climate Finance and the Reform of the International Financial and Economic Architecture: Proposals for the Baku to Belém Roadmap for US$1.3 Trillion”, now totaling 91 pages and featuring in-depth analyses of the challenges and pathways for scaling up global climate finance.
Produced by researchers Ana Garcia, CIPÓ senior fellow, Pedro Silva, and Daniel Lannes, the document brings together strategic recommendations to expand climate finance directed to developing countries, contributing to making the target of US$1.3 trillion per year by 2035—advocated by the Global South in international climate negotiations—viable.
The new version expands and deepens the debate around the Baku to Belém Roadmap, an initiative aimed at identifying ways to mobilize resources at a scale compatible with the needs of global climate action. The document examines the key dilemmas of the current climate finance system, which is marked by insufficient resources, geographic and sectoral concentration of investments, and a strong reliance on debt-generating instruments.
The authors argue that addressing the climate emergency requires structural reforms to the international financial and economic architecture, which is still largely based on institutions and rules inherited from the post–World War II period and insufficiently responsive to the needs of the most vulnerable countries.
Among the proposed measures are reforms to the lending policies of the IMF and Multilateral Development Banks, debt relief and restructuring initiatives, stronger international tax cooperation, a review of investor–state dispute settlement mechanisms, and the expanded use of sovereign funds and innovative financial instruments to finance mitigation, adaptation, and just transition efforts.
By contributing to the international debate and to the work surrounding the Baku to Belém Roadmap, the document underscores the urgency of building a more democratic, transparent international financial system aligned with the priorities of the Global South. It highlights that global resources do exist—the challenge is to mobilize them in a fair and effective way to confront the climate crisis.
