SINGAPORE – As the multilateral order comes under growing strain, several trends are becoming increasingly clear. International development assistance and climate finance appear to have peaked, even as global needs continue to evolve. At the same time, international institutions, faced with mounting pressure to prove their efficiency and cost-effectiveness, are reassessing their operations. But today’s climate-finance challenges demand more than introspection; they call for structural change, decisive action, and – above all – coordinated leadership.