Host Matt Bell explores the pivotal role of Nationally Determined Contributions (NDCs) in shaping climate policy and investment strategies. He interviews four experts to get their insights.

Joanna MacGregor, a senior advisor at the UN Climate Change (UNFCCC), explains how NDCs have evolved into comprehensive national climate plans that can drive economic growth and resilience. Antonina Scheer, Policy Fellow at the London School of Economics and Research Project Manager at the Transition Pathway Initiative Centre, discusses the challenges of financing climate action in emerging markets and introduces a tool that helps assess the credibility and ambition of NDCs. Pablo Carvajal, Director in the Climate Change and Sustainability Services team at EY UKI, shares insights from his work with governments and banks, highlighting the disconnect between policy targets and business implementation. Claudia Gollmeier, Managing Director at Colchester Global Investors, emphasizes the importance of investors considering NDCs and the rise of innovative financial instruments like sustainability-linked bonds.

Together, the guests underscore the urgency of making NDCs investable and inclusive, involving businesses and investors in their design and execution. Despite delays in countries submitting their NDC plans, they remain optimistic about the potential of NDCs to unlock financial flows and accelerate the global transition to a low-carbon economy.

• NDCs are evolving into powerful economic tools that can drive growth, resilience and clean energy transitions.
• Businesses and investors play a crucial role in implementing NDCs, even though governments set the targets.
• Transparent information and innovative financial products are helping bridge the gap between climate ambition and investable action.

@2025 Ernst & Young LLP