Alongside global climate financial mechanisms such as the Green Climate Fund (GCF), global net-zero finance initiatives such as the Energy Transition Mechanism (ETM) and the Just Energy Transition Partnership (JETP) were launched. These mechanisms aim to mobilise private financing for early retirements of fossil fuel facilities in emerging markets and in developing economies that rely heavily on fossil fuels. However, few studies have assessed them from the perspective of equity, justice, and transformative changes. This chapter fills the gap by investigating how effectively these financial mechanisms have worked for net-zero transitions. Our findings reveal that while the mandates and requirements direct ETM and JETP for early retirement of coal power, compensation, and institutional development, few programmes have been specified for disbursement. Long procedures and institutional reform requirements delay disbursements, challenging private financing and scaling. This contrasts with GCF, which focuses on energy access and renewable energy but accelerates disbursement. Transparent collaborations between developed countries, private investors, host country governments, and electric companies are suggested for ETM and JETP to make financing net-zero transitions work effectively.