BBVA Backs COP31’s BRIDGE Initiative to Accelerate Climate Investment in Emerging Markets
BBVA has announced its support for the objectives of the Climate Implementation Bridge (BRIDGE), an initiative launched by the COP31 Presidency and developed in partnership with the United Nations Development Programme (UNDP), aimed at turning countries’ sustainable development projects into investment opportunities. BBVA is the world’s first private bank to participate in this initiative and will explore opportunities for collaboration, drawing on its expertise in sustainable finance, investment project preparation and private capital mobilization, both globally and in the countries participating in the initiative.
“The focus of the summit is on implementation. One of the major challenges in mobilizing climate finance is therefore turning countries’ commitments and targets into projects capable of attracting investment. To achieve this, it is important to involve the financial sector from the earliest stages, so that it can contribute its knowledge of local markets, project viability and financing solutions. Initiatives such as BRIDGE can help connect countries’ priorities with the capital needed to deliver on them,” said Antoni Ballabriga, Global Head of Sustainability Intelligence at BBVA, during the presentation of the initiative at the Climate Summit, taking place from November 9 to 20 in Antalya, Türkiye.
Mobilizing climate finance is one of the main challenges facing emerging and developing economies. The international goal of reaching at least $1.3 trillion annually in climate finance for developing countries by 2035 requires not only mobilizing more public and private capital, but also overcoming the difficulties involved in turning climate commitments into investable projects. Key obstacles include challenges in risk-sharing, a lack of predictable investment frameworks and limited coordination between climate policies and economic strategies.
BRIDGE aims to address these challenges by building on the priorities defined by each country. To this end, it assesses financing needs and institutional capacities, identifies investment opportunities and supports project preparation. It also connects these opportunities with potential investors and facilitates the development of financial solutions. The initiative builds on existing institutions and mechanisms, without operating as an investment fund or replacing government decision-making.
This collaboration may involve multilateral banks, national banks and development institutions, international climate funds and private capital providers.
BBVA has announced its support for the objectives of the Climate Implementation Bridge (BRIDGE).
Leveraging expertise in other emerging markets
BBVA will explore opportunities to share with BRIDGE its expertise in sustainable finance and in mobilizing private capital through local banking systems.
This potential collaboration could include knowledge-sharing on the financial viability of projects, the structuring of financing solutions and risk-sharing mechanisms, as well as participation in technical advisory forums.
BBVA’s presence in markets such as Türkiye, Mexico, Colombia and Peru enables it to provide practical insights into companies’ investment needs and financing conditions across different emerging economies.
BBVA has channeled more than €254 billion into sustainable business since January 2025, of which nearly €100 billion¹ relates to emerging economies, primarily in Mexico, Türkiye and South America, and approximately €60 billion to electrification.