CPI launches Climate Finance Reform Compass tracking 32 reform topics

Climate Policy Initiative launched the Climate Finance Reform Compass, an accountability tracker for the COP28 Global Climate Finance Framework that evaluates 32 reform topics across nine themes with targets to 2030. The tool gives Indian policymakers and negotiators a structure to align national climate-finance priorities with global milestones and monitor reform delivery.

Climate Policy Initiative (CPI) developed the Climate Finance Reform Compass to chart reform priorities, identify responsible actors, and link progress to global milestones. It evaluates 32 reform topics across nine themes, from the New Collective Quantified Goal (NCQG) to multilateral development bank reform, drawing on input from the Independent High-Level Expert Group on Climate Finance. Acting as the official accountability tracker for the COP28 Global Climate Finance Framework, the Compass sets mid-term targets to 2030 and maps governments, MDBs, philanthropic entities, and coalitions against major events.

The Compass targets national policymakers, MDB strategists, climate negotiators, and civil society organisations seeking coordinated reform. It aligns actors with events including the G20, COP, and World Bank-IMF meetings. The Fourth International Conference on Financing for Development (FFD4) in June 2025 serves as a critical milestone, with the Compass identifying 15 reform-linked deliverables tied to development finance and updated Nationally Determined Contributions. The platform addresses fragmentation, duplicative initiatives, and limited cross-stakeholder visibility that currently weaken the global climate finance system.

Affected actors can use the public-facing, interactive platform to track real-time progress, spotlight bottlenecks, and harmonise action toward 2030 targets. The Compass enables countries to localise reform by integrating climate finance priorities into national frameworks and regulatory planning, which matters as the international financial system pivots toward regionalism and blended finance. Stakeholders should monitor the 15 FFD4 deliverables in June 2025 and track how mid-term reform targets to 2030 progress, using the tool to align national and global agendas and clarify responsibilities.

Key figure — Reform scope: 32 reform topics across nine themes, with targets to 2030