Pakistan Joins 5 Countries in New COP31 Bridge Program

Pakistan has been selected among the first five pilot countries for a new COP31 initiative aimed at helping developing countries turn climate commitments into finance-ready projects.

Key points

• SURFF will operate through three main pillars: the Resilient Cities Country Platform, the Resilient Cities Centre of Excellence and the International Resilient Cities Dialogue.
• In a related development, the COP31 Presidency introduced the Sustainable Urban Resilience Financing Facility, or SURFF, in partnership with ILBANK, UN-Habitat and the World Bank.
• Türkiye's Minister for Environment, Urbanization and Climate Change Murat Kurum remarked climate ambitions cannot be achieved without adequate financing.
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• The experience gained from the first group will afterwards be employed to expand the initiative to other developing countries, Small Island Developing States and Least Developed Countries.

Meanwhile, the COP31 Presidency confirmed Ethiopia, Fiji, Indonesia, Pakistan and Uzbekistan as the initial pilot countries for its Climate Implementation Bridge, or BRIDGE, initiative at New York Climate Week.

For context, the initiative is being introduced in partnership with the United Nations Development Program and is designed to bridge the gap between climate ambitions and the financing needed to implement them by developing bankable project pipelines and strengthening national capacity. Gilgit-Baltistan Launches New Climate and Agriculture Initiatives.

For Pakistan, which faces major climate risks including floods, drought, heatwaves and water stress, the initiative offers an opportunity to better connect climate and development priorities with international financing.

In practice, the COP31 Presidency remarked the pilot countries would develop country-led pathways linking climate finance with investment-ready projects and national development targets.

Notably, the experience gained from the first group will afterwards be employed to expand the initiative to other developing countries, Small Island Developing States and Least Developed Countries.

Notably, the BRIDGE initiative will additionally assist identify implementation bottlenecks, improve investment readiness and strengthen access to the existing international climate backing system.

In a related development, the COP31 Presidency introduced the Sustainable Urban Resilience Financing Facility, or SURFF, in partnership with ILBANK, UN-Habitat and the World Bank. Pakistan Has Failed to Employ $11 Billion Flood Aid.

For context, the facility is intended to address gaps in urban climate finance in low- and middle-income countries as they implement their Nationally Determined Contributions and National Adaptation Intends.

While additionally mobilising public and private financing and strengthening implementation capacity at the local level, it intends to assist countries and cities turn climate commitments into investment programmes and finance-ready projects that address local resilience needs.

He remarked climate aims must be turned into investable projects and matched with suitable financing.

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After earlier announcements including the 35-by-35 Global Electrification Pledge and a new initiative on climate-responsible artificial intelligence, the COP31 Presidency remarked the initiatives are part of a broader Action Agenda focused on accelerating implementation of climate commitments.

Meanwhile, the measures are intended to reinforce the implementation-focused approach of COP31 ahead of the Antalya summit scheduled for November. Stay Connected with ProPakistani. Obtain the latest international news and global stories wherever you prefer. Follow on Google Discover.

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For now, pakistan Joins 5 Countries in New COP31 Bridge Program remains the part of the story worth watching, and further updates are likely as more details are confirmed.