Climate Finance in the Multipolar Era
Briefly

Climate Finance in the Multipolar Era
"Gordon LaForge has argued that the new order will be defined by "connectivity without hegemony," with state and non-state actors coalescing fluidly around specific issues; for collective action problems like trade, public health and climate change, "this might even prove to be an improvement.""
Geopolitical conflict, policy changes in Washington, and growing climate impacts are reshaping climate finance. The U.S. withdrawal from the Paris Agreement and weakening emphasis on international institutions and SDG commitments signal a deeper shift from the post-1945 rules-based framework. A fragmented landscape is emerging, with “connectivity without hegemony” and fluid coalitions of state and non-state actors around specific issues. Climate finance may rely less on UNFCCC consensus and more on coalitions of willing partners where security and economic interests align. This approach can be faster but messier, as shown by a fossil-fuel transition conference that included many countries while excluding major emitters and key states. Energy security concerns are also driving new dynamics.
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