Pakistan selected for COP31 climate finance pilot program

Pakistan has been selected as one of five pilot countries for the COP31 Climate Implementation Bridge (BRIDGE) initiative. Developed alongside the United Nations Development Programme, the pilot aims to assist developing nations in transforming national climate priorities into investment-ready projects to secure international financing.

During the United Nations General Assembly in New York, Pakistan’s Finance Minister Muhammad Aurangzeb emphasized the necessity of translating climate commitments into tangible results. He identified three critical requirements for effective implementation: a sound policy framework, access to finance, and the capacity to deliver projects at the national level.

Aurangzeb noted that institutional fragmentation and a lack of bankable projects have historically hindered progress, observing that some international support following the 2022 floods remained unutilized. The BRIDGE initiative seeks to address these barriers by linking climate finance to specific goals such as flood protection, drought preparedness, and water management. Other pilot countries in this initiative include Ethiopia, Fiji, Indonesia, and Uzbekistan.