COP31: Innovative Technologies to Increase Access to Climate Finance

The limited availability of climate finance, and the difficulty in accessing it, prevents developing countries from delivering climate–development action at the speed and scale needed to drive transformational change. Finance mobilization, funder alignment and pipeline development continue to lag behind articulated national priorities. While dedicated funds exist, the process to identify needs, prioritize projects, submit proposals and access funds is long and complex. 

These challenges are exacerbated for Least Developed Countries (LDCs) and Small Island Developing States (SIDS), which often have limited capacity to devote to these processes. In contrast, new technologies ranging from AI to blockchain and fintech are rapidly expanding and have the potential to support the countries and people that need it most. Innovative technology solutions present unique opportunities to accelerate access to limited financial resources to address climate change, especially for LDCs and SIDS. By enhancing in-country capacity to identify, secure and manage funding, many different technological solutions can support greater country ownership and build sustainable, long-term financial management capabilities.  

This event will bring together country representatives, partners and civil society to showcase country-led examples and share lessons learned. The event will share findings from Project Ponte, a collaborative pilot project of the NDC Partnership and the World Resources Institute Data Lab in coordination with the GCF who will be launching a new AI-powered prototype to support LDCs and SIDs in refining GCF project proposals. Participants will also share findings from diverse technological solutions and discuss the opportunities for deeper collaboration in support of ambitious, implementable and investable Nationally Determined Contributions (NDCs).