• Focus Area Regional Energy Markets Regional Energy Markets
  • Type Discussion paper
  • Date 09 October 2023
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Abstract

This study aims to assess the alignment of global sustainable financial flows with transition investment priorities. First, we identify investment gaps based on the difference between the required annual investment to meet global net-zero emissions (NZE) targets and current investment flows. Our assessment reveals that nearly all countries must significantly accelerate their efforts, as their current investment levels fall short of what is required. Second, and perhaps more importantly, investment gaps are particularly large for non-Annex I (developing) countries. Financing these large-scale investments continues to be a major global challenge. The size of global environmental, social and governance (ESG) finance remains low. Specifically, despite their large investment gaps, developing countries receive only a minor share of global ESG funds, where access to conventional finance is already limited. 

Authors

Fatih Yılmaz

Fellow Dr. Yilmaz currently works as a Fellow I in the Climate and Sustainability program. His current research agenda aims to…

Dr. Yilmaz currently works as a Fellow I in the Climate and Sustainability program. His current research agenda aims to enhance our understanding of the financial and economic consequences of the sustainable energy transition and to design effective policies to balance risk and growth prospects.

Prior to joining KAPSARC, Dr. Yilmaz worked as an economist at the Central Bank of the Republic of Turkey, where he was actively involved in the research and the design of policies for the private and banking sectors. He also worked as a consultant for the World Bank and spent a year as an assistant professor of economics at ADA University.

He has authored various academic and policy articles and attended academic conferences and workshops. He holds a Ph.D. in economics from the University of Calgary.

Expertise

  • Sustainable Finance and Investment
  • Applied Banking and Finance
  • Corporate Taxation
  • Public Economics
  • Applied Micro-Econometrics

Publications See all Fatih Yılmaz’s publications

Fahad A. Alswaina

Senior Data & Models Solutions Associate Alswaina is a Senior Data and Models Solutions Associate in the Solutions Productization (S&P) department leading machine learning and data… Alswaina is a Senior Data and Models Solutions Associate in the Solutions Productization (S&P) department leading machine learning and data engineering, data architecture, and models analytics solutions in the fields of computer science, climate, and energy. He is a member of the Climate Change Adaptation and Mitigation Partnership (CAMP) project where he handles the GCAM-KSA model processing scalability on the cloud. Before joining KAPSARC, Fahad worked in academia where he taught courses on programming and cloud computing at the University of Bridgeport. He worked in the industry as a data scientist at Arcon Distributed in the United States and as a software engineer/research assistant at KACST – Satellite Technology Center, Riyadh. Alswaina holds a Ph.D. in Computer Science and Engineering from UB, Connecticut, an M.Sc. in Computer Science from California Lutheran University, and a B.Sc. in Computer Science from King Saud University, Riyadh. He has also published in ranked peer-reviewed journals specializing in artificial intelligence and information security.

Expertise

  • Machine Learning Engineering and Modeling
  • Data-Driven Research
  • Realtime Data
  • Big Data and Analytics.

Publications See all Fahad A. Alswaina’s publications

Fateh Belaïd

Fellow II was a full professor of economics at Lille Catholic University and director of the Smart & Sustainable Cities research unit.… was a full professor of economics at Lille Catholic University and director of the Smart & Sustainable Cities research unit. Fateh has also held various positions at the French Scientific and Technical Center for Building and led multiple collaborative projects for the French Ministry of Ecological Transition and the European Commission. He is an energy and environmental economist drawing from the fields of applied microeconomics, energy modeling, and econometrics. He has published widely on household energy consumption, energy-saving behaviors, individual preference and investment in energy efficiency, energy poverty, renewables, and energy policy. He received a habilitation for supervising doctoral research from Orléans University, a Ph.D. in Economics, an M.S. in Applied Economics & Decision Theory from Littoral University, and an engineering degree in statistics. His work has been published in journals including Ecological Economics, The Energy Journal, Energy Economics, Economic Surveys, Energy Policy, and Environmental Management

Expertise

  • Energy and Environmental Economics; Energy Efficiency; Energy Demand; Fuel Poverty; Energy Policy; Energy Saving Behaviors; Applied Econometrics; Smart and Sustainable Cities.

Publications See all Fateh Belaïd’s publications

Mohamad Hejazi

Program Director Mohamad Hejazi is the Program Director for the Climate and Sustainability Program at KAPSARC. He also leads the Climate Change… Mohamad Hejazi is the Program Director for the Climate and Sustainability Program at KAPSARC. He also leads the Climate Change Adaptation and Mitigation Partnership (CAMP) project, and his work focuses on climate change research, climate impacts and adaptation, climate mitigation, integrated assessment modeling, and energy-water-land nexus. Prior to joining KAPSARC, Mohamad worked as a senior research scientist at the U.S. Department of Energy’s Pacific Northwest National Laboratory, where he served as the principal investigator for the Global Change Intersectoral Modeling System project, a multi-million-dollar project that includes over 40 interdisciplinary researchers across many institutions. He has also led and contributed to projects with the World Bank, Inter-American Development Bank, US-AID, US-EPA, USGS, NASA, and NSF-INFEWS. Mohamad has authored over 100 journal publications, and he has also served as a contributing author to the Fourth U.S. National Climate Assessment, and the AR6 IPCC WG III report on the mitigation of climate change. Mohamad holds a B.S. and M.S. from the University of Maryland, College Park, and a Ph.D. from the University of Illinois, Urbana-Champaign.

Expertise

  • Climate change research
  • Climate impacts and adaptation
  • Climate mitigation
  • Integrated assessment modeling
  • Energy-water-land nexus

Publications See all Mohamad Hejazi’s publications

Mari Luomi

Research Fellow Mari is a policy-oriented social scientist who has been studying climate change, energy transitions and sustainable development policy in the… Mari is a policy-oriented social scientist who has been studying climate change, energy transitions and sustainable development policy in the Gulf and globally for 15 years. At KAPSARC, she leads the projects on carbon markets and Paris Agreement Article 6, and the Circular Carbon Economy Index. She has worked for other leading energy, sustainable development and foreign policy research institutions, including the Oxford Institute for Energy Studies, the International Institute for Sustainable Development (Earth Negotiations Bulletin), Georgetown University, the Finnish Institute of International Affairs, and the Emirates Diplomatic Academy. Mari holds a master’s degree in political science and international politics from the University of Helsinki and a Ph.D. in Middle Eastern studies from Durham University. In addition to a broad research publications portfolio, she has substantial experience in executive training, presentations, policy advisory, and reporting services for multilateral environmental negotiations.

Expertise

  • Climate Change Policy and Governance
  • Energy Transitions
  • Sustainable Energy Policy
  • Circular Carbon Economy
  • Greenhouse Gas Emissions
  • Sustainable Development
  • Sustainable Development Goals
  • Economic Diversification and Gulf Cooperation Council Countries

Publications See all Mari Luomi’s publications

Salaheddine Soummane

Salaheddine Soummane

Senior Associate Salaheddine was a senior associate in Consulting. His current work scopes include energy market restructuring, modeling, and regulation. Before joining…

Salaheddine was a senior associate in Consulting. His current work scopes include energy market restructuring, modeling, and regulation.

Before joining KAPSARC, Salaheddine worked as a research associate at the Centre for International Research on Environment and Development (CIRED), a National Centre for Scientific Research lab in Paris, as part of the integrated economy–energy modeling team. He also worked as an economist in the energy markets and environmental regulation unit of the utility group Électricité de France (Paris).

Salaheddine holds a Ph.D. in Economics from Paris-Saclay University (France). His doctoral dissertation assessed potential economic and energy transition pathways for Saudi Arabia. He also holds an M.Sc. in Energy Economics and Law from the University of Montpellier (France), and an M.Sc. in Finance from the Aix-Marseille School of Economics (France).

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