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 tool currently consists of two platforms: the Global Climate Finance Reform Compass, and the country-specific Brazil Climate Finance Reform Compass.
The Global Climate Finance Reform Compass
The Compass helps public and private stakeholders identify key reform priorities, coordinate action, and measure results. Serving as the official tracker of the COP28 Global Climate Finance Framework, it translates complex global commitments into pragmatic goals and milestones for action across nine thematic areas, covering issues from fiscal policy to development bank mandates and transition-ready labor markets.
The Global Compass provides a shared framework for the international community to understand where progress is being made, where gaps persist, and how reforms can reinforce each other. It offers pragmatic, evidence-based goals that support alignment between governments, development finance institutions, private investors, and civil society
By aligning milestones with major global decision moments, such as COPs and G20 summits, the Compass helps focus collective efforts where change can happen.
The Brazil Climate Finance Reform Compass
Building on the global framework, the Brazil Climate Finance Reform Compass applies the same structure to the national level to help Brazil align its financial system with its climate and development goals.
As a first-of-its-kind national platform, it tracks progress across eight key themes and twenty-four reform areas, identifying the institutions, actors, and milestones needed to unlock finance for a just, inclusive, and sustainable transition.
Brazil’s leadership in global climate diplomacy—through its G20 presidency and hosting COP30 in Belém—presents a unique opportunity to translate international ambition into domestic action. The Brazil Compass supports this by enhancing transparency, coordination, and accountability across the country’s climate finance ecosystem. It brings together commitments and actions from government, development banks, private investors, and civil society, offering a unified view of progress toward 2030 goals.
Developed through desk research, policy mapping, and consultations with national stakeholders, the Brazil Compass contextualizes the Global Climate Finance Framework for Brazil’s institutions, regional forums, and financial mechanisms. Each topic is qualitatively assessed to show where Brazil is making progress, where gaps remain, and what reforms can strengthen alignment with national development strategies and NDC implementation.
Both the Global and Brazil Compasses are designed as living tools, updated periodically to reflect policy evolution and new stakeholder input. Together, they offer a pathway from global ambition to country-led implementation—helping align climate finance reform with sustainable development priorities and ensuring that progress can be tracked, coordinated, and accelerated over time.
