Domestic Financial Systems: Domestic Financial Sector and Capital Markets
- Revamping
- Reshaping
- Re-channeling
Country platforms connect national climate and development priorities with investment programs and financing strategies, coordinating policy reform, project preparation, and domestic and international finance. Building on the first Just Energy Transition Partnerships (JETPs), the model is expanding to adaptation, resilience, nature, agriculture, sustainable cities, and wider economic transformation, accelerated at COP30 by new national and regional platforms, the Country Platforms Hub, and growing support from MDBs and climate funds
Country platforms are expanding rapidly, but progress from establishment to financing and implementation remains considerably slower. By early 2026, 17 countries had announced country and regional platforms, with a further 23 in the Green Climate Fund’s soft pipeline, with broad geographic distribution (Boland, 2026). New platforms are defining their objectives and institutional arrangements, supported by an emerging international architecture, while more mature platforms are beginning to translate financing commitments into projects and early real-economy outcomes. However, substantial gaps remain between investment requirements, commitments, and deployed finance. Financing is concentrated in more readily investable sectors, with adaptation, subnational investment, and just-transition priorities less well served. Evidence of additional mobilization, reach, and outcomes attributable specifically to platforms remains limited.
Magnitude relative to the need
Slow
Financing packages and investment pipelines are expanding, but substantial gaps remain between investment needs, commitments, and finance allocated. South Africa's 2023–27 JET Investment Plan identified around USD 99 billion in requirements; by March 2026, pledges had reached USD 14.36 billion, of which USD 6.12 billion had been allocated (The Presidency Republic of South Africa, 2026a). Brazil's BIP had 23 approved projects representing USD 27.1 billion in potential investment, with USD 2.1 billion mobilized (Ministério da Fazenda, 2026), while Indonesia had secured around USD 21.4 billion in commitments, with USD 3.1 billion approved (Republic of Indonesia, 2026).
Pace of reform against what's needed
Steady
Platform establishment is advancing faster than financing and implementation. At COP30, 13 countries and one regional grouping announced plans to develop platforms through GCF readiness support (GCF, 2025a), and by early 2026 the GCF had identified 17 announced platforms with GCF engagement and a further 23 in its soft pipeline. Yet only five of the 17 were progressing or under implementation (Boland, 2026). Deployment also lags commitments: in South Africa, only 33% of concessional loans and 7% of commercial debt, equity, and guarantees had been allocated by March 2026 (The Presidency Republic of South Africa, 2026a).
How far it extends across countries and institutions
Slow
Platforms now span a wider range of countries and priorities, including LDCs such as Lesotho, Rwanda, and Togo; SIDS; and climate-vulnerable countries (GCF, 2025a, 2025b), but realized finance remains concentrated in larger economies and more readily investable sectors. In South Africa, around 72% of allocated project-level JET finance was directed to electricity (The Presidency Republic of South Africa, 2026a). Egypt's NWFE has progressed faster in energy than in water and food (Ambassador Wael Aboulmagd, 2026). Approaches in Cameroon and Madagascar connect national frameworks with local governments (UNFCCC, 2025b), but evidence on finance reaching affected communities remains limited.
Depth of real world effect
Slow
Mature platforms show project delivery and emerging outcomes, but evidence of additional investment and outcomes attributable to platforms remains limited. South Africa had 129 projects in implementation and 87 completed by March 2026 (The Presidency Republic of South Africa, 2026a), while Egypt's NWFE energy pillar had supported 5.15 GW of renewable capacity, expected to avoid around 9.4 MtCO₂ annually (EBRD, 2025). However, current reporting does not consistently distinguish investment mobilized by a platform from investment subsequently aligned with it, and comparable evidence on development and distributional outcomes is lacking.
The next step for country platforms is to move from establishment to investment planning, financing, and implementation at scale.
This requires translating NDCs, NAPs, and development strategies into sequenced, costed investment programs, and strengthening project preparation and transaction capacity to move investments through to disbursement. International partners should organize support behind country-led programs embedded in national fiscal and planning systems, delivering an appropriate mix of affordable and predictable finance. Platforms must also reach adaptation, nature, local, and just-transition priorities, and track finance from commitment through to outcomes.
Cooperation is required between these actors and audiences to drive progress foward in Country Platforms.
National governments and finance ministries
Platform coordination units
MDBs
Green Climate Fund and other climate funds