NEW YORK: Organisers of the 31st United Nations climate conference (COP31) selected Pakistan as one of five pilot countries for a climate finance initiative. It aims to turn national climate commitments into projects ready for investment.
Pakistan joins Ethiopia, Fiji, Indonesia and Uzbekistan in the Climate Implementation Bridge, known as BRIDGE. The COP31 presidency announced the group at New York Climate Week on Thursday.
Working with the United Nations Development Programme, participating countries will develop project portfolios that connect climate priorities with potential financing. Support includes identifying implementation barriers and strengthening national capacity to prepare projects for investors.
Each country sets its own pathway, aligned with its development goals.
According to the presidency, the pilot group’s experience will guide expansion to other countries. Developing nations, small island developing states and least developed countries are among the intended participants.
Separately, the presidency launched the Sustainable Urban Resilience Financing Facility to help cities in low- and middle-income countries prepare climate projects. Partners include the World Bank, Türkiye’s ILBANK and the United Nations Human Settlements Programme, known as UN-Habitat.
That facility aims to attract public and private financing for local resilience needs. Its three components cover country-level project preparation and financing, a centre for sharing technical expertise, and international dialogue.
Read: UN Climate Talks Push Faster Action on Emissions Cuts
Türkiye’s Minister of Environment, Urbanisation and Climate Change Murat Kurum said governments must match ambitious climate plans with adequate funding. He urged them to turn those plans into projects that can attract investment.
Both initiatives form part of the presidency’s Action Agenda to accelerate implementation of climate commitments. COP31 takes place in Antalya, Türkiye, in November.
