Belém, 19 November 2025 - UNDP and the Italian Ministry of Environment and Energy Security co-hosted a high-level side event at COP30, “Unlocking Climate Finance, the partnership between UNDP and Italy”, which presented the 2025 results of PISTA (the Platform for Investment Support and Technical Assistance), and announced a new call for proposals scheduled for 2026. The session showed how targeted support can move climate projects in developing countries toward investment readiness and connect them with sources of climate finance. 

PISTA is a climate finance mobilisation platform that helps developing countries turn their climate priorities into bankable projects by providing technical assistance grants and strengthening engagement with financiers. In 2025 the platform supported 16 mitigation and adaptation projects across Africa and allocated over 2.5 million USD in grants designed to unlock up to 500 million USD in potential financing. PISTA also worked with governments that hold bilateral cooperation agreements with Italy, aiming to make them more effective and impactful – particularly, by supporting activities in circular economy, clean energy, environmental management and climate resilience. 

“PISTA is one of UNDP’s flagship climate finance tools designed to help countries turn their NDC commitments into reality. It bridges the gap between ideas and implementation by transforming concepts and priorities into concrete, bankable projects.”  

Jennifer Baumwoll, Head of Climate Strategies and Policy, UNDP Climate 

During the event, Alessandro Guerri, Director General for European and International Affairs and Sustainable Finance at the Italian Ministry of Environment and Energy Security, underlined the importance of PISTA in strengthening cooperation with partner governments and supporting the preparation of climate, environment and energy projects. “I believe that our partnerships with governments in Uganda and Ukraine are more than formal agreements; they represent mutual understanding, trust, and a shared commitment to a clean and sustainable future.” 

The panel discussion highlighted recent progress within PISTA’s portfolio, including two major initiatives that reflect strong cooperation between Italy and partner governments. Representative from Uganda presented the Integrated Waste Management project, which aims to establish a modern waste processing facility to reduce health risks, create green jobs, and advance the country’s green transition. The concept note for the initiative recently received formal approval. A short ceremony was held to mark this milestone and celebrated progress on the full project proposal and the move toward implementation. Representative from Ukraine also showcased the project on air quality monitoring, an effort that seeks to safeguard health and strengthen resilience to environmental challenges. 

Panelists also examined how PISTA-backed projects are progressing toward financing opportunities, including examples from the Italian Climate Fund managed by Cassa Depositi e Prestiti, illustrating how early-stage technical assistance can accelerate project pipelines for developing countries.  

Senior representatives from the Italian Ministry of Environment and Energy Security, UNDP Climate, the Government of Uganda, the Government of Ukraine and Cassa Depositi e Prestiti took part in the session. 

Media contacts 
info.romecenter@undp.org  

About UNDP 
UNDP works in more than 170 countries and territories to eradicate poverty, reduce inequalities and build resilience. We help countries strengthen institutions, mobilise finance and advance sustainable development. More information at undp.org.