PREFACE
“The OPEC Fund will continue to work hand in hand with its partners to mobilize the resources, innovation and political will required for a sustainable, inclusive and climate-resilient future.”
The world continues to face a defining challenge — one that tests our resolve, resources and ability to act in concert. Climate change is not a distant threat but an immediate crisis, reshaping economies, displacing communities and reversing decades of development gains — particularly in partner countries across the Global South.
In response, the OPEC Fund has sharpened its focus on climate action, moving from acknowledgment of the challenge to concrete, scaled-up solutions. Over the past year, we have bolstered our climate ambition, strengthened our partnerships and further integrated climate considerations throughout our financing activities. This report demonstrates our evolving role in aligning with the Paris Agreement and the Sustainable Development Goals. A key highlight of 2024 was the launch of major new initiatives aimed at building climate resilience, including the Island Resilience Facility for Small Island Developing States and our US$1 billion pledge under the Global Drought Resilience Partnership. These steps underscore our commitment to stand with countries most at risk, supporting localized solutions that can be replicated and scaled up.
Looking ahead, we are taking bolder steps toward our climate change efforts — beginning in 2025, all new projects are undergoing systematic climate screening to maximize impact, with tailored approaches applied to trade finance.
While we recognize the progress made, we are mindful that much more remains to be done. The OPEC Fund will continue to work hand in hand with its partners to mobilize the resources, innovation and political will required for a sustainable, inclusive and climate-resilient future.
ABDULHAMID ALKHALIFA President, OPEC Fund
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