This episode of New Frontiers in Climate Finance features Mike Wilkins and host Harry MacKenzie discussing the outcomes of the Fourth UN Conference on Financing for Development (FFD4) in Seville, and its critical role in shaping climate and sustainability finance. The conversation unpacks why FFD4, despite being far less publicised than the annual COP climate conferences, may be equally, if not more important for directing capital to climate action, particularly in the Global South.  Mike explains the governance and lending mechanics of multilateral development banks (MDBs) like the World Bank, and why reforming their risk tolerance, capital adequacy rules, and governance structures could triple annual climate-related lending. The discussion explores under-reported but powerful financial levers, such as debt-for-development swaps, special drawing rights, and innovative instruments like intellectual property–backed securities, that could unlock billions for climate resilience, adaptation, and mitigation.  The episode also addresses the imbalance of power between developed and developing nations in global finance, the political and economic realities constraining reform, and the pivotal role that FFD4 outcomes could play in influencing negotiations at COP 30 in Brazil later this year. Mike makes the case that scaling concessional climate finance is both a moral imperative and an economic necessity for a stable global financial system.  To learn more about Mike’s work, please see the link below:  Guest: Mike Wilkins  Professor Raúl Rosales Contribution 00:00 Introduction to FFD4 and its Significance  01:02 Why FFD4 Matters as Much as COP  03:14 Governance and Power Imbalances in MDBs  06:48 How to Triple Climate Lending Capacity  10:12 Debt-for-Development Swaps and Special Drawing Rights  15:03 Role of Credit Rating Agencies  18:24 Innovative Finance: IP-Backed Securities and R&D Bonds  22:19 Linking FFD4 to COP 30 Outcomes  27:44 Closing Thoughts and Next Steps