CHAPTER 2
Under SDG 13 (Climate Action), targets 13.1 and 13.2 (Table 13), which aim to strengthen countries’ climate change resilience and mitigation measures are again the main areas of support for the OPEC Fund during this report’s review period. One example for expected greenhouse gas emission reductions (an indicator for target 13.2) includes the aforementioned ¤50 million public sector policy-based loan to North Macedonia co-financed with the World Bank which includes measures to incentivize the banking sector to actively manage and disclose risks stemming from climate change, as well as to report green loans. Another
example is a US$3 million grant for clean cooking provided by the OPEC Fund to Somalia in the context of the US$4.5 billion debt relief package provided to Somalia under the Heavily Indebted Poor Countries (HIPC) initiative launched by the International Development Association (IDA) and the International Monetary Fund (IMF). In addition to the grant for clean cooking, the OPEC Fund also provided US$36.4 million in highly concessional loans and US$3 million in policy-based grant resources. The clean cooking grant is expected to help the country reduce deforestation and emissions due to cooking with polluting fuels (target 13.2).
Table 13: Project contributions to SDG 13 targets
No. of contributing projects
% of contributing projects
SDG target
13.1 Strengthen resilience and adaptive capacity to climate-related hazards and natural disasters in all countries 8
18
13.2 Integrate climate change measures into national policies, strategies and planning 14
31
13.3 Improve education, awareness-raising and human and institutional capacity on climate change mitigation, adaptation, impact reduction and early warning 3
7
13.a Implement the commitment undertaken by developed-country parties to the United Nations Framework Convention on Climate Change to a goal of mobilizing jointly US$100 billion annually by 2020 from all sources to address the needs of developing countries in the context of meaningful mitigation actions and transparency on implementation and fully oper- ationalize the Green Climate Fund through its capitalization as soon as possible
3
7
One OPEC Fund project approved during the reporting period aligns with three different targets within SDG 14 (Life Below Water), as shown in Table 14. This US$20 million loan
to Liberia aims to improve the sustainable management and productivity of fisheries in the country while improving livelihoods and incomes of the project’s beneficiaries.
Table 14: Project contributions to SDG 14 targets
No. of contributing projects
% of contributing projects
SDG target
14.a Increase scientific knowledge, develop research capacity and transfer marine technology, taking into account the Intergovernmental Ocean- ographic Commission Criteria and Guidelines on the Transfer of Marine Technology, in order to improve ocean health and to enhance the contri- bution of marine biodiversity to the development of developing countries, in particular Small Island Developing States and least developed countries 1
2
14.b Provide access for small-scale artisanal fishers to marine resources and markets 1
2
26
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