Chapter 4 | TRACKING OPEC FUND’S CLIMATE FINANCE
Analysis of the OPEC Fund’s portfolio shows that the distri- bution of sectoral investments varied over the seven-year period from 2018 to 2024 (Chart 4).
the “Others” category, which also saw a notable increase in 2024, reaching over US$250 million.
In 2024, the agriculture sector received approximately US$180 million in climate finance, while the energy sector received around US$200 million. In earlier years, the financial institutions sector recorded an investment of approximately US$190 million in 2022, and the multisectoral category received around US$160 million in 2022 and US$140 million in 2023. The energy sector recorded annual investments ranging from US$80 million to US$110 million between 2018 and 2023, increasing to approximately US$210 million in 2024. The education and transport sectors received lower invest- ment levels across all years, generally below US$50 million annually.
Agriculture and energy accounted for relatively higher in- vestment levels at the beginning of the period in 2018. The financial institutions sector recorded an increase in 2019, reflecting shifting investment priorities in that year. Educa- tion remained relatively stable throughout the period, with only minor variations in annual allocations. Multisectoral investments began at a moderate level in 2018, increased between 2022 and 2023 and then saw a slight decline in 2024. Agriculture sector investments, initially modest, grad- ually increased in 2022 and 2023, spiking in 2024, reaching over US$150 million. Transport, after higher levels in 2018, experienced a decline in the middle of the period, followed by renewed growth in 2024. A similar trend is observed in
Chart 4: Sectoral Distribution of Climate Finance, 2018-2024
250%
200%
150%
100%
50%
0%
Agriculture
Education
Energy
Financial Institutions
Multisectoral
Transport
Others
2018
2019
2020
2021
2022
2023
2024
Source: OPEC Fund climate finance reporting, 2018-21, 2022, 2023 and 2024 | See also Annex 7.3, Table 5a
Chart 4 depicts contributions of different sectors for 2018-21, 2022, 2023 and 2024. Chart 5 indicates the percentage of climate finance of each sector to total investment in the sector for the respective time periods.
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