OPEC Fund adopts first Climate Action Plan, doubles targets by 2030
The OPEC Fund for International Development has adopted its first Climate Action Plan, which commits the organization to increase its climate financing to 25 percent by 2025 and 40 percent by 2030 with a cross-cutting approach to all its projects. The current share of climate finance in approved projects is 20 percent.
The new Climate Action Plan will boost the Fund's support for sustainable, low-carbon, inclusive and climate resilient investments in partner countries.