MENA

Climate Finance in West Asia: Big pockets, empty hands

Climate Finance in West Asia: Big pockets, empty hands

While climate finance has been increasing annually on a global level, the distribution of funds remains dominated by sectoral projects (Energy, transport, agriculture, etc.) in MENA. Annual global climate finance is still falling short for what is needed to remain under the 1.5 degrees celsius scenario. Climate finance flows from intermediaries to sectors using financial instruments for different uses. The purpose of this blog is to discuss the end point of climate finance. There is a need for diversifying the beneficiaries of climate finance on a global and regional level. Technological innovations dominate global financial support whereas social change and investing in nature fall behind.