Climate Finance Reform Compass
The world must mobilize dramatically larger volumes of climate finance. This cannot happen without holistic reform of the international financial architecture—the network of institutions, standards, and practices that organize global financial flows.
Moving from talk to action will take coordinated efforts by diverse stakeholders, on concrete milestones in the coming years.
To support this ambition, CPI has created the Climate Finance Reform Compass: an action-oriented tool that identifies financial sector reforms that could, together, drive the increase in climate finance we need.
The Compass aims to facilitate consensus and coordinate action among public and private stakeholders on reforms to the international financial architecture needed to meet the global climate challenge.
As the official tracker of the Global Climate Finance Framework, it identifies pragmatic goals and milestones for action across nine thematic areas, aligned with the principles laid out at COP28:
| Commitments & ambition | Just transition | Domestic mobilization |
| Fiscal space | Country platforms | Private finance |
| Concessional finance | MDB reform | Carbon markets |
This interactive platform aims to help stakeholders from the public, private, and civil society sectors focus on pragmatic goals, coordinate action, and chart progress.
Leaders of development finance institutions, private financiers, analysts, advocates, and others seeking to drive the climate finance agenda can use this tool to explore key topics and action points within nine themes.
Milestones are aligned to major global meetings to help focus efforts on events where change can happen. The Compass will be updated periodically in order to capture progress and chart next steps.
The latest edition, released in April 2025, features several new topics, including the New Collective Quantified Goal (NCQG), Vertical Climate and Environmental Funds (VCEFs), transition-ready skills and labor markets, MDB reform mandates, and fiscal reforms and regulations.
For the first time, the Compass also features progress ratings for each theme, offering a clearer view of how far reforms have advanced.
This marks the first effort to track comprehensive, material progress by major FIs globally: from their commitments, through action within the institution, to impacts on the wider economy.
