There is a significant gap between current financing and the levels required to meet the 2030 Sustainable Development Goals, the Paris Agreement and the Global Biodiversity Framework. Developing countries have pushed for renewed global efforts to ensure the financial system delivers adequate scale and quality of financial flows for their needs and priorities. Global initiatives such as the Bridgetown Initiative, the Nairobi Declaration, and the Paris Pact for People and Planet all reflect the high level of political attention paid to the agenda of reforming global financial architecture over the past few years.

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