1. Results Framework
  2. Level 3 – Operations
  3. Financing for Climate Action

Financing for climate action (US$)

Definition

Total volume of approved financing to projects contributing to climate change mitigation and adaptation, at the end of the reporting period. The calculation of the climate finance amounts follows the MDB Joint Methodology for Climate Finance.

Why it matters for the OPEC Fund

The OPEC Fund’s Strategic Framework 2030 has set a climate finance target of US$5 billion for the 2025-2030 period to take decisive action to mitigate climate change or help partner countries adapt to the increasingly devastating effects of it. The OPEC Fund is implementing its Climate Action Plan to achieve these targets.