CLIMATE FINANCE WORKING GROUP
Financing for Clean Energy is not well developed in the MENA region, with the exception of financing for utility scale renewable energy projects. Most organizations that develop clean energy projects of small to medium scale are suffering from the lack of appropriate financing tools on the market, leading to very complex and slow growth of these typical projects. This is typically the case for solar rooftop, waste to energy and energy efficiency projects.
PURPOSE
The Climate Finance Working Group aims to lobby various financial and governmental organizations in the MENA region to educate them on the market needs and to get them to take action to facilitate and create access to financing. The Working Group will focus on the preparation of white papers and policy recommendations to be published and presented to the relevant organizations. The Working Group defines its geographical focus priorities in the MENA region.
Raising awareness: Aim to raise awareness about climate finance to government entities/policymakers, businesses and other stakeholders.
Accelerate policy maturity: Engaging more with policymakers/regulations, working on encouraging/providing more incentives to invest in sustainable finance and sharing best practices from other parts of the world with local policymakers in the region.
Key focus areas: Climate-related risks, Financing for a green future, Regulation and Reporting, Carbon credits & carbon taxonomy, ESG (e.g., ESG fintech, etc.)
