Financing the sustainable energy transition continues to be a global challenge given the massive investment needs associated. According to projections provided by different institutions (e.g., OECD, World Bank, and UN Environment, 2018), several trillions of dollars in investment are needed annually to meet the 2030 Sustainable Development Goals (SDGs) and to fulfill the Paris Agreement ambitions. These figures are beyond the current public finance capabilities and show the critical need for private finance to reach the necessary levels. In this short article, we present an overview of the challenges associated with current global definitions of ESG finance for the GCC and highlight some of the emerging ESG developments in the region with a focus on the case of Saudi Arabia. We also identify factors that could help unlock further ESG financing to the GCC region.