SPECIAL FEATURE
CLIMATE ACTION: REALISTIC PLAN
30°C during the hottest period of the year, the potential for tourism in Madagascar is huge. But in contrast to the neighboring Seychelles, which are only a two-hour flight away, Madagascar still only earns a fraction of its GDP from tourism. It demonstrates how the responsible treatment of the environment and the careful use of resources have become an integral part of development. The Seychelles, one of the small island nations in existential danger because of rising sea levels, are taking decisive action to lessen their dependence on fossil fuels with massive
International private investment in the SDGs T he United Nations Sustainable Development Group estimates an additional US$2.5 trillion per year will be needed for developing countries to achieve the SDGs. Though the COVID-19 pandemic had affected global levels of foreign direct investment, international investment in SDG-relevant sectors in developing countries increased substantially in 2021, by 70 percent, according to the United Nations Conference on Trade and Development World Investment Report 2022. Renewable energy
accounted for much of that growth. Throughout this article we highlight the disparity between pre- and post-pandemic levels in international private investment across six SDG- relevant sectors.
investments to unlock their potential for solar power. The OPEC Fund’s Climate Action Plan takes account of this duality. Energy is one of the most powerful
The energy transition will only succeed if it is also just, inclusive and sustainable.
Dr. Abdulhamid Alkhalifa, OPEC Fund Director-General
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