OPEC Fund Quarterly - 2024 Q3

CONTENTS

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COP29 Special Feature: Climate finance – Who should contribute, and how?

6-9  A brief history of climate change 10-13  Good COP, bad COP: Successes and setbacks of the previous 28 COP conferences 14-15 What to expect from COP29 16-21  “Bigger, better, faster”: The OPEC Fund’s Climate Action Plan 22-25  Scaling up nature-based solutions: How a new partnership strengthens climate resilience and biodiversity conservation 26-29  Extreme heat: Dangerous urban heat exposure has tripled since the 1980s, with the poor most at risk 30-31  Heat stress in Baku, Azerbaijan: The City of Winds feels the heat 32-33  Heat stress in Medellín, Colombia: The City of Eternal Spring no longer lives up to its name 34-35  C limate change, price inflation and poverty: A complex interplay 36-37  Book Review – Adaptation or bust: Survival of the Greenest by Amir Lebdioui 38-39  Game Review – Daybreak : Think you can solve the climate crisis? You have two hours 40-41  Climate action in the age of TikTok: Raising awareness and inspiring action

Daybreak Game Review 38–39

IN OTHER SECTIONS...

In the Field 42-43

Events 50-53 50

The OPEC Fund in the Philippines and Thailand: Developing opportunities in a region of huge potential Development News 44-45 New OPEC Fund projects in Nepal, Rwanda, Somalia, Türkiye, Uganda and Uzbekistan Spotlight Interview 46-49 Sabine Gaber, Austrian Development Bank (OeEB): “In development finance, there is room for cooperation but also competition”

 The OPEC Fund at the IAEA General Conference  Madagascar clean cooking agreement; Ecuadorian art exhibition  Loan signing with Armenia’s Evocabank  OPEC Fund President attends Saudi Fund’s 50th anniversary The Back Page 54 “You will one day shape the future” The OPEC Fund hosts the Vienna Energy Scholar Programme

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