Key Takeaways
- Pakistan among five countries chosen for COP31 initiative.
- Program aims to bridge climate ambitions with financing.
- Offers opportunity to develop bankable project pipelines.
Pakistan has been selected as one of the first five pilot countries for the COP31 Climate Implementation Bridge (BRIDGE) initiative, designed to help developing nations turn climate commitments into finance-ready projects.
The initiative, launched in partnership with the United Nations Development Program, aims to bridge the gap between climate ambitions and the financing needed to implement them by developing bankable project pipelines and strengthening national capacity.
For Pakistan, which faces significant climate risks such as floods, drought, heatwaves, and water stress, the program offers an opportunity to better connect climate and development priorities with international financing.
The COP31 Presidency announced the initiative at New York Climate Week, alongside other climate-focused measures, including the Sustainable Urban Resilience Financing Facility (SURFF).
SURFF is intended to address gaps in urban climate finance in low- and middle-income countries, helping them turn climate commitments into investment programmes and finance-ready projects.
The facility will operate through three main pillars: the Resilient Cities Country Platform, the Resilient Cities Centre of Excellence, and the International Resilient Cities Dialogue.
Minister for Environment, Urbanization and Climate Change of Türkiye, Murat Kurum, emphasized the need for adequate financing to achieve climate ambitions, stating that climate plans must be turned into investable projects and matched with suitable financing.
The initiatives are part of a broader Action Agenda focused on accelerating the implementation of climate commitments, following earlier announcements including the 35-by-35 Global Electrification Pledge and a new initiative on climate-responsible artificial intelligence.
The COP31 Presidency aims to use the experience gained from the first group of pilot countries to expand the initiative to other developing countries, Small Island Developing States, and Least Developed Countries.
