Through this study, the IEU examines how the global climate finance landscape may evolve through 2035 and what this could mean for the Fund’s strategic positioning. Using foresight methods to analyse emerging trends, structural drivers, and key uncertainties, the study explores a range of plausible future scenarios for climate finance. It highlights risks and opportunities in a complex, fragmented financing environment and offers forward-looking insights to support the GCF’s mission, operating model, and comparative advantages. The findings contribute to the evidence base guiding the Third Performance Review of the GCF, and future strategic planning for the Fund. The study is presented through a brief summary report, and an extended technical report.