A year ago, the scientific journal Nature released an article highlighting 2024 as a pivotal year for elections [1] worldwide, including in India, the European Union, and the United States, noting that the outcomes could shape both domestic and multilateral priorities, including development cooperation and scientific collaboration. Meanwhile, the Institute for Economics and Peace reported that the number of state-based conflicts had reached its highest level [2] since the end of the Second World War, alongside a notable rise in global military expenditures. This evolving global landscape coincides with the 10th anniversary of both the Paris Agreement at COP21 and the Addis Ababa Action Agenda on financing for development.
At the United Nations (UN) Summit on the Sustainable Development Goals (SDGs) in 2023, it was reported that less than 20% of the SDGs had been achieved at the midpoint of the 2030 Agenda. In 2024, a number of UN member states opted not to endorse the Pact for the Future [3]—including some from the Caribbean, Central Asia, the Indian Ocean, and the Pacific, many of which face significant environmental challenges—underscoring the complexity of global governance and the need for tailored approaches that address diverse national priorities and development trajectories.
A broader historical perspective suggests that structural shifts in global affairs are influenced by long-term socioeconomic cycles. Recent calls for institutional adaptation have gained momentum, particularly regarding multilateral financial institutions established in the Bretton Woods era and discussions around the role of the UN in addressing contemporary challenges. Ahead of the G20 Summit in Brazil last November, the Quincy Institute noted that in an evolving geopolitical environment, there is a need for renewed dialogue [4] on strengthening global governance and ensuring that multilateral institutions remain effective and inclusive.
While these trends bring challenges, they also open opportunities to reframe international cooperation, particularly on climate and development. The G20 presidencies of Indonesia and India played a key role in advancing a roadmap for post-pandemic recovery, including initiatives for just energy transitions and sustainable finance, with a focus on enhancing the role of multilateral development banks in supporting the Global South. Building on this, Brazil and South Africa’s G20 presidencies sought greater alignment between the G20 and the UN, advocating for structured dialogues between international financial institutions and policymakers to drive meaningful reforms.
Efforts to strengthen collaboration across multilateral platforms have also extended to bridging perspectives between the G7 and the broader G20 community. This builds on a decade of engagement that has gained momentum since G20 Mexico in 2012. Similarly, the revival of the BRICS grouping—comprising Brazil, the Russian Federation, India, the People’s Republic of China, and South Africa—chaired by Brazil in 2025 and India in 2026, presents an opportunity to explore new frameworks for collaboration, particularly as the United States prepares to assume the G20 presidency.
However, achieving both sustainability and security remains a complex challenge, particularly for low- and middle-income countries that face mounting fiscal pressures. Rising interest rates and currency fluctuations have constrained these countries’ ability to invest in climate adaptation and green transitions, highlighting the need for innovative financial solutions. Recognizing these challenges, institutions such as ADBI have convened discussions at COP29 [5] in Baku, engaging regional and global stakeholders to explore ways to unlock domestic resources and enhance support for vulnerable communities. Complementing these efforts, the Asian Climate Finance Dialogue [6], established with the Asian Development Bank, and the emerging Asia-Africa Climate Finance Forum are working to advance solutions that address both environmental and economic imperatives.
In parallel, The Rockefeller Foundation’s initiatives in Asia and the Pacific seek to mobilize private capital to deliver lasting results for underserved people across the region. The Rockefeller Foundation’s AsiaXChange Summit, launched during G20 India, continues to serve as a key convening platform, bringing together regional and global decision-makers, investors, and philanthropies to support shared and sustainable prosperity for the communities that need it the most.
Looking ahead to the World Bank and International Monetary Fund meetings in Bangkok in 2026, as well as the potential COP31 in Australia and the Pacific, the Asia and Pacific region is well-positioned to continue to drive innovative approaches to climate and development financing. This comes at a time when transatlantic dynamics between Europe and the United States are evolving, creating opportunities for new global partnerships. The growing urgency of addressing interconnected challenges—including climate change, biodiversity, and sustainable development—emphasizes the need to move beyond transactional financing models toward more integrated and cooperative approaches.
Over the past 3 decades, globalization has reshaped trade, value chains, and economic interdependencies, further accelerated by the demand for critical minerals, digital transformation, and energy transitions. However, conservation efforts for vital ecosystems, such as tropical rainforests, have often remained localized, requiring enhanced cross-border collaboration. Meanwhile, influential scientific frameworks, such as the planetary boundaries concept, have yet to fully translate into robust policy frameworks that integrate local and indigenous knowledge systems.
This spring, ADBI is co-organizing a landmark summit [7] on resilient food and agriculture systems in Bhutan, a country known for its innovative development model. Simultaneously, The Rockefeller Foundation is co-hosting an international conference [8] in Bangkok to identify and scale solutions that are good for people and the planet. By connecting research across diverse ecosystems—such as the Amazon, the Himalayan glaciers, and river basins—to global policymaking, the goal of both convenings is to unlock fresh perspectives on technological innovation, climate resilience, and sustainable financing, ultimately contributing to a more effective and inclusive global policy framework.