Distinguished guests, colleagues, and partners, 

Good afternoon. It is a privilege to join you here in Seville for this timely conversation on bridging the pipeline-to-finance gap in climate action. 

Let me begin by thanking the Italian Ministry of Environment and Energy Security for its strategic vision and steadfast support of PISTA, the Platform for Investment Support and Technical Assistance. Your commitment has been instrumental to making this initiative possible and a powerful enabler of climate finance where it is needed most. 

Despite a growing pool of global climate finance, hitting an all-time high of $1.9 trillion in 2023, only a fraction (around 4%) reached Africa. This stark imbalance points to a fundamental challenge not of capital availability per se, but rather of making sure that the capital reaches the places where it’s needed the most. This means also making sure that development needs and climate priorities are translated in investable opportunities and project pipelines. 

And this is precisely the reason why PISTA was launched by UNDP and Italy. It is a practical instrument designed to support countries to translate their national climate priorities into bankable projects.  

In just one year, PISTA has delivered technical assistance to 16 climate-aligned projects across Africa, channelling over $2.5 million in technical assistance grants. Of these projects, six are already engaging with financiers and have the potential to unlock more than $400 million in investment.  

Projects range from a large rural electrification programme in Mauritania, to flood protection infrastructure in Nigeria, from a project on climate resilient agriculture in Zambia to Ethiopia's first fund for green MSMEs. 

We are especially proud that PISTA has been included in the FFD4 outcome document, the Compromiso de Sevilla, as a recommended mechanism for IFIs and MDBs for scaling up foreign direct investment and private capital mobilisation for sustainable development.  

Today’s panel is a demonstration of the PISTA model in action, with project developers like Giraffe Bioenergy and Pegasus Capital Advisors in conversation with financiers from across the world (represented by CDP and BADEA). This is partnership in practice—anchored in national priorities, built on shared goals, and focused on delivering results at scale.  

But to make this approach truly scalable, better alignment between risk frameworks and the real economic and political contexts of developing countries is needed. That shift is essential to unlock the vast potential that exists especially as the cost of inaction is growing, with debt burdens rising and development and climate needs multiplying. 

UNDP remains committed to supporting governments and partners through platforms like PISTA. Together, we can reimagine how capital flows—toward people, toward priorities, and toward a more sustainable, resilient future. 

Thank you, and I look forward to the engaging discussion ahead.