This document outlines the benefits of green growth and the importance of developing the right policies to support a transition towards the low carbon economy. It assesses the financing needs of green growth in developing countries, the role of the financing described by the UN High Level Advisory Group on Climate Change Financing (AGF) and how the climate finance system should develop over the next decade. It finishes by illustrating why climate finance needs to be framed in the wider context of growth and development finance.