Despite commitments at COP29 (to raise at least 300bn annually by 2035 and to aim for 1,3 trillion annually by 2035 from all public and private sources) and at COP30 (to triple adaptation finance by 2035), substantial barriers to raising the necessary finance remain. While existing commitments must be upheld, new and additional ways of raising and deploying public funds for
climate and nature are needed. Global Public Investment (GPI) offers one promising new approach for collectively raising but also governing the distribution of finance for shared challenges and outcomes such as life-saving climate and nature protection—and for meeting emergent challenges
across the range of vital Planetary Boundaries. Moreover, it can be a way to bring into a common and coherent international framework the now multiple viable international proposals for raising new and additional levels of public international finance, such as through international “solidarity”
levies and wealth taxes. Increasing public finance, improving its governance, and ensuring it is more coherently structured are all outcomes that will be required to break the entrenched gridlock of the current climate finance regime and fully meet our climate and nature financing needs.
