The Middle East and North Africa (MENA) are highly vulnerable to the physical impacts of climate change through sea level rise, heat stress and water scarcity, which pose increasing risks for food production, energy generation, and livelihood opportunities in the region.
For financial institutions operating in the MENA region, climate change mitigation and adaptation pose a great set of challenges as well as opportunities. This report showcases concrete examples of climate finance projects and identifies key climate finance trends in the region. The case studies also demonstrate the barriers to greater climate action from the finance sector and aim to inform policymakers and UNEP FI’s climate work in the Middle East and North Africa.
Designed for banks, multilateral development banks (MDBs) and policymakers operating in the region, the study complements 2019’s report Promoting Sustainable Finance and Climate Finance in the Arab Region highlighting commercial banks’ work on climate action.