At COP31, Financiers Say Climate Capital Exists but Bankable Projects Lag
COP 31 Side Events • United NationsNovember 13, 2026
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Banks, insurers and philanthropy leaders used a UN side event at COP31 on Nov. 13, 2026, to make a blunt case: The money for national climate plans is out there, but the projects, coordination and insurance needed to deploy it are not. The UN Development Programme pitched its Climate Promise Forward framework and a new project facility called BRIDGE as the fix, while Ethiopia, host of COP32, put a price on the gap at roughly $10.6B a year.
- Panelists from Raiffeisen, CAF, Generali China and GFANZ say bottlenecks, not capital, are slowing climate investment
- UNDP Administrator Alexander De Croo issues three asks to development banks, donors and private investors
- Ethiopia cites a $10.6B annual need and launches a country platform to close it
- Pacific Youth Council demands direct access and a dedicated Pacific funding window for youth-led groups
- No commitments, motions or votes were recorded at the event
The basics: NDCs, or nationally determined contributions, are the national climate plans countries submit and are now expected to carry out. The panel, moderated by the Special Envoy of the Secretary-General on Financing the 2030 Sustainable Development Agenda, focused on how private and development finance can reach them.
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