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Report

Future of the Funds

This report examines seven key multilateral climate funds and recommends operational and architectural reforms to improve their ability to deliver low-emissions and climate-resilient development.

Key points

The proliferation of climate funds has led to inefficiency in the channeling and delivery of finance.
▪ This report proposes solutions to enhance the impact of multilateral climate funds, based on an extensive review of the literature and interviews with more than 50 stakeholders.
▪ A set of five strategies is key to success: scaling up impact, promoting greater country ownership, improving efficiency, supporting equitable allocation, and increasing accountability of operations.
▪ To improve their effectiveness, these funds should undertake a series of operational and architectural reforms.
▪ In the near term, funds should define their mandates and specializations to ensure an improved division of labor; in the longer term, some funds may need to merge or close.