Chapter 4 | TRACKING OPEC FUND’S CLIMATE FINANCE
Chart 1: Climate Finance Summary, 2018-2024 Climate finance share of total OPEC Fund finance and sectoral contribution to climate finance (%)
50%
100%
34 %
20 %
32 %
11 %
45%
90%
40%
80%
39 %
35%
70%
30%
60%
34
33 %
%
25%
50%
20%
40%
20 %
15%
30%
10%
20%
5%
10%
66 %
80 %
68 %
89 %
0%
0%
2018-2021
2022
2023
2024
Public Sector
Private Sector
Climate Finance
Source: OPEC Fund climate finance reporting, 2018-21, 2022, 2023 and 2024 | See also Annex 7.3, Table 2
Chart 2: Contribution of Public and Private Sector to Climate Finance, 2018-2024 (US$MN)
1000
900
92
800
283
700
600
500
105
400
132
300
200
100
542
411
286
772
0
2018-2021
2022
2023
2024
Public Sector
Private Sector
Source: OPEC Fund climate finance reporting, 2018-21, 2022, 2023 and 2024 | See also Annex 7.3, Tables 3 and 7
Chart 2 illustrates the contribution of the public and private sectors to total OPEC Fund climate finance from 2018 to 2024. During the 2018-2021 baseline period, total climate finance amounted to US$825.3 million, with the public sector contributing US$542.1 million and the private sector US$283.2 million. In 2022, total climate finance reached US$515.4 million, comprising US$410.8 million from the public sector and US$104.7 million from the private sector. In 2023, the total was US$417.4 million, including US$285.6 million from the public sector and US$131.8 million from the private sector.
In 2024, public sector contributions increased significantly to US$772.2 million, while the private sector contributed US$91.5 million, bringing total climate finance for the year to US$863.7 million — out of a total portfolio of US$2.2 billion. This marks the highest combined public and private sector contribution across the entire period reviewed and surpasses the baseline total of 2018–2021.
20
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