State of Blended Finance is a research series examining how public, philanthropic and private capital combine to finance sustainable development in emerging markets. It analyses transaction structures, investor participation, capital mobilisation, development impact, market trends and barriers to scaling blended finance.

This report analyses how Asia-Pacific employer organisations address trade-related labour requirements and responsible business conduct. While 96 per cent of surveyed EBMOs view these issues as relevant, rising business pressure and capacity constraints — particularly in funding and technical expertise — limit their ability to provide comprehensive member services.

This research analyses the integration of national development banks (NDBs) into climate policies across 103 economies. It highlights that only 17.5% of countries explicitly reference NDBs in climate commitments. The report provides recommendations for governments and NDB leadership to strengthen institutional alignment and improve climate finance effectiveness.

This report examines nine Indian nature-based solutions (NbS) case studies to evaluate financing mechanisms and institutional frameworks. It highlights the importance of reducing technical risk through feasibility studies, aligning with national policies, and sequencing capital to support project scalability and long-term sustainability in urban environments.

This report maps the technical assistance ecosystem for agri-SMEs in sub-Saharan Africa and Latin America. It identifies structural gaps in information, pre-investment funding, and coordination. The analysis offers strategies to strengthen the ecosystem, highlighting the importance of nature integration and supporting local providers to improve investment readiness.

This report examines strategies for building resilient global governance amidst recurring transnational crises. It advocates for hybrid institutional complexes that balance robust and flexible institutions. By prioritising institutional diversity and leadership, governance systems can better absorb shocks, adapt through innovation, and prepare for future disruptions through institutional learning.

This report analyses climate finance readiness in fragile and conflict-affected situations. It identifies systemic barriers, including institutional instability and under-resourcing, that prevent readiness support from translating into finance. It proposes four principles to adapt readiness, advocating for a whole-of-government approach anchored in political and fiscal realities.

This report examines barriers and enablers for scaling up textile recycling in the EU. Combining literature reviews with 20 stakeholder interviews, it identifies technological, financial, and regulatory constraints. Recommendations include supporting demand-side measures, funding sorting technology research, and strengthening value chain collaboration to achieve circularity targets.

This report evaluates how 'AI middle powers' can use public procurement as a strategic governance tool to mitigate risks from foreign-led frontier AI. It proposes a framework of contractual guarantees and recommends international coordination to increase bargaining leverage, enhance visibility, and secure data sovereignty against technological dependencies.

This report explores how evidence-informed co-creation supports city-level climate action and health co-benefits. Using the citiES 2030 platform as a case study, it details the development of practical health indicators and provides recommendations for policymakers, cities, and researchers to strengthen urban climate governance and implementation.

This report examines the transition towards nationally led crisis response in East Africa. It identifies barriers within international aid structures while highlighting progress in sub-national governance, social protection, and civil society. Recommendations focus on strengthening state accountability and equitable partnerships across Kenya, Somalia, Uganda, South Sudan, and Ethiopia.

This research examines how corporate stewardship and policy advocacy address global externalities. Stewardship is more effective when foreign regulation is absent and leakage is high. However, if foreign regulation is feasible, stewardship can crowd out policy, while advocacy can encourage international regulatory coordination through strategic complementarity.

This research examines the rapid expansion of international credit to Africa since the Global Financial Crisis. It highlights the rise of Chinese lending under the Belt and Road Initiative, the dramatic growth of international bond issuance, and the continued dominance of governments as borrowers in US dollar-denominated markets.

This briefing examines policy choices for scaling sustainable aviation fuels (SAF) and Power-to-X (PtX) in Australia. It highlights the need for integrated policy packages, robust sustainability certification, and cross-portfolio coordination to transition from bio-based fuels to synthetic alternatives, ensuring long-term decarbonisation and fuel security.

This report advocates for an Asian Carbon Border Adjustment Mechanism (CBAM) to harmonise carbon pricing across Asia-Pacific. Focusing on steel, aluminium, and cement, it proposes international collaboration between Australia, China, Japan, Singapore, and South Korea to accelerate industrial decarbonisation, address carbon leakage, and unlock green commodity trade.

This report evaluates Indonesia's enabling framework conditions for subnational climate finance. It identifies critical gaps in institutional capacity, financial architecture, and data accessibility. Recommendations focus on expanding urban-specific incentives, leveraging blended finance, and synchronising digital platforms to improve local climate governance and bridge the national investment gap.