Green Finance Innovation Platform: Derisking Renewable Energy Investments in the Arab Region



Less than 10% of the climate investment called for by countries' Nationally Determined Contribution (NDC) climate plans under the Paris Agreement have been met. Even where large-scale finance exists, it is only for large mega projects which often bring little direct benefit for broader development goals, such as those identified by the SDGs. Scaling up climate finance will close this large gap, through reducing barriers for private and public investment in climate solutions that reach all country typologies in the region and putting in place an enabling environment of policies and partnerships that can also help accelerate SDG results. Through support to the emergence of the Pan-Arab Clean Energy (PACE) platform, a network of public and private partners across 18 countries in the Arab region, with the International Renewable Energy Agency (IRENA), the Regional Center for Renewable Energy and Energy Efficiency (RCREEE), and country partners across the region, new pathways of acceleration will be identified, new investment projects will be generated, and new public-private partnerships will be established, significantly expanding the ability of countries to attract and deploy climate finance under NDCs. Beyond conventional commercial investments for large-scale projects, innovative approaches will be generated to achieve scale of results for sustainable energy investments with benefits across SDGs – poverty reduction, women’s empowerment, water security and other development priorities in the region.


Ensure access to affordable, reliable, sustainable and modern energy for all
Take urgent action to combat climate change and its impact
Strenghten the means of implementation and revitalise the global partnership for sustainable development


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