UNDP, Türkiye Pitch Climate Bridge to Make National Plans Investable
COP 31 Presidency Events • United NationsNovember 12, 2026
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At a COP31 presidency-supported side event on Nov. 12, 2026, the United Nations Development Programme and Türkiye promoted the Climate Implementation Bridge, a bid to turn countries' climate plans into projects private investors will fund. Banks and investors on the panel said the rules of the market must change first. No votes or binding commitments came out of the session, which ended with a call for partners to co-design country investment maps.
- Climate Implementation Bridge pitched as "not a new fund." UNDP says it will run on its existing presence in 170 countries.
- Pakistan pilot cited: 36 projects worth $7 billion packaged for investors.
- Türkiye's Deputy Minister calls COP31 an "implementation COP" and cites a $4 trillion financing gap.
- Uzbekistan, one of five Bridge pilots, asks for a roadmap and a coordinated project pipeline.
- Banks and investors say they need stable rules and shared risk. EIB cites a green bond effort mobilizing up to $20 billion.
A 'Bridge' Built on Existing Pipes
The basics: Nationally determined contributions (NDCs) are the climate plans each country files under the Paris Agreement. The Bridge aims to translate those plans into "investment-ready" project portfolios that lenders and investors can evaluate.
Why it matters: Backers argue the world's climate gap is now about execution, not pledges. If the pilots work, countries with plans but few financed projects could gain a repeatable way to reach private capital.
Where things stand: Marcos Neto, Assistant Secretary-General and Policy Bureau Director, United Nations Development Programme, said the Bridge is not a new fund or institution. Instead, it relies on UNDP's presence in 170 countries. He said the shortage is not capital.
"What is really missing is projects, the bankable places where money can go with the right level of risk-return," said Neto.
As proof of concept, Neto pointed to Pakistan, which has assembled a book of 36 projects worth $7 billion.
The presidency's framing: The Deputy Minister of Foreign Affairs of Türkiye described COP31 as an "implementation COP." The Deputy Minister cited a $4 trillion financing gap and said the Bridge helps countries convert NDCs into investment-ready portfolios. The Deputy Minister also cited two companion efforts: a Sustainable Urban Resilience Financing Facility and an LDCs Green Industrialization Facilitation Mechanism, aimed at least developed countries.
A pilot country's ask: Faruk Satarov, Director, National Center for Climate Change, Uzbekistan, welcomed his country's place among five Bridge pilots and outlined Uzbekistan's NDC 3.0 targets and investment priorities. He also asked for more structure: a roadmap, a coordinated project pipeline and regional cooperation.
Decisions and stakeholder impacts: No decisions were made. The design favors countries that already have strong UNDP country offices and planning capacity. Pakistan's $7 billion book shows what a finished pipeline looks like. Uzbekistan's request for a roadmap suggests pilots are still waiting on operating details. The urban resilience facility points the effort toward cities, where much climate adaptation spending lands.
What's next: Participation remains voluntary. The test is whether the five pilots move from project lists to closed financing deals.
Investors' Message: Fix the Market, Not Just Projects
Why it matters: The finance panelists shifted the question from "where are the projects?" to "what would make investors stay?" Their answers point to policymakers, not just project developers.
Where things stand: Efi Schmidt, Senior Head of Policy and Impact, European Investment Bank, cited a Global Green Bond Initiative mobilizing up to $20 billion. Schmidt also noted the EIB's coming chairmanship of the group of multilateral development banks (MDBs), the public lenders such as the World Bank that finance development.
Antoni Ballabriga, Global Head of Sustainability Intelligence and Advocacy, BBVA, argued that individual projects are not enough.
"We need bankable markets," said Ballabriga.
He called for stable regulation, steady project pipelines and clear risk allocation among banks, MDBs, governments and insurers.
Morten Engard Rasmussen, Executive Vice President, People and Stakeholder Relations, NovoNexus, urged blended finance and catalytic first-loss capital. Blended finance mixes public or philanthropic money with private investment. First-loss capital absorbs early losses so private investors face less risk.
The other side: Justine Leigh-Bell, CEO, Anthropocene Fixed Income Institute, offered the most sober view of market conditions. She said rising yields and competition for capital make climate projects harder to fund. She called for performance-linked debt, in which borrowing terms are tied to a country's progress on its NDC targets.
Decisions and stakeholder impacts: No commitments were announced. The panel's prescriptions would shift work onto governments, which would need to supply predictable regulation and accept a share of project risk. Development banks would supply guarantees and first-loss layers. Private banks and bond investors would gain clearer terms before committing capital. For borrowing countries, performance-linked debt could tie financing costs directly to climate results.
What's next: Watch whether the EIB's MDB chairmanship carries these de-risking tools into formal lending programs.
Looking Ahead
The moderator closed by inviting partners to co-design country investment maps through the Bridge. No dates, deadlines or funding commitments were announced, so the next markers to watch are progress reports from the five pilot countries, including Pakistan and Uzbekistan.