MDBs Pledge Climate Action Support at COP31
Multilateral Development Banks commit to working with COP31 partners to speed climate-smart development after record 2025 finance.
Updated on Nov. 12, 2026 in Environmental
Multilateral Development Banks welcomed the COP31 Climate Action Agenda and committed to working with Türkiye's COP31 Presidency, Australia's President of Negotiations, and partners. The banks delivered a record $163 billion in global climate finance in 2025.
Why it matters
The commitment signals that development lenders are moving from climate pledges toward implementation, with focus on the commitments set out in countries' Nationally Determined Contributions. Their approach is led by client demand and country development priorities.
Multilateral Development Banks reported a record $163 billion in global climate finance delivered in 2025. The extraction does not break down this total by bank, region, or sector, nor compare it with prior years.
The players
Multilateral Development Banks (MDBs)
A group of international financial institutions that provide loans, grants and technical support for development projects in member countries.
COP31 Presidency (Türkiye)
Türkiye holds the presidency of COP31, the 31st United Nations climate change conference, responsible for steering negotiations toward the summit's outcomes.
President of Negotiations (Australia)
Australia's appointed President of Negotiations leads the negotiating track for COP31, working alongside the presidency to advance talks among parties.
The details
MDBs bring together financing, knowledge, policy support, and capacity to help countries and private-sector clients translate climate ambitions into action. The banks said they will advance the implementation agenda through continued progress in climate finance delivery.
Timeline
2025: MDBs delivered a record $163 billion in global climate finance.
November 12, 2026: MDBs issued a joint statement welcoming the COP31 Climate Action Agenda.
Big Picture
The MDB pledge extends the Paris Agreement's Nationally Determined Contributions framework by tying development finance directly to the emissions and adaptation pledges countries have already filed. It moves the discussion from target-setting toward the financing needed to meet those targets.
Development finance tied to national climate plans can shape which clean energy, adaptation and infrastructure projects get funded in developing countries. Readers tracking climate-linked lending or project pipelines can watch how these commitments translate into specific financed projects.
The takeaway
Climate ambition now depends heavily on whether financing follows the pledges. Watching how multilateral lenders convert record flows into delivered projects will show whether implementation is keeping pace with commitments.
Further reading
For broader coverage of climate policy and conservation, see the Environmental section.
