The report was released at 29th CoP to the United Nations Framework Convention on Climate Change (UNFCCC).

• It provides estimates of investment needs across areas Clean energy transition, Adaptation and resilience, Loss and damage, Natural capital & Just Transition to meet Paris Agreement.

Key Findings of the Report

• Global Investment Required for climate action is around $6.3–6.7 trillion per year by 2030. 
  • Emerging market & developing countries (EMDCs) other than China require $2.3-2.5 trillion.
    • Currently, investment is concentrated in economies such as India and Brazil. 
• Increased Role of non-traditional sources in closing financing gap. E.g. voluntary carbon market, South South Cooperation, use of special drawing rights etc
• Unprecedented opportunity for developing countries due to declining technology costs (of solar power)  & huge expansion in supply from China

Recommendations 

• Integrated approach to Climate Finance with strengthening of collaboration,  development of  sectoral investment plans and co-creation of  project pipelines
  • Public Funding: Manage debt and fiscal space, boost domestic resource mobilization(by carbon pricing)  etc.
  • Private Investment: Reduce cost of capital, expand options for concessional finance, Tapping the potential of carbon markets etc.
• Multilateral Development Banks: should work to triple lending capacity by 2030 as part of New Collective Quantified Goal on Climate Finance(NCQG).