This report highlights the risks of climate change in the Middle East and North Africa (MENA), discusses the state of banking decarbonisation in the region and outlines a set of recommendations for public actors and banks to accelerate decarbonisation of the region’s banking industry. 

The report focuses on Egypt and the United Arab Emirates (UAE) given their key role in international climate negotiations with COP27 hosted by Egypt in Sharm el-Sheikh and with COP28 taking place in Dubai, UAE. 

The report aims to:

• analyse the state of banking decarbonisation in the MENA region both from the
  perspective of public actors and that of the banking industry;
• identify and assess how banks are responding to the transition to a low carbon
  economy, while taking into consideration aspects of the broader macro-environment
  they operate in; and
• present recommendations for public actors and banks to accelerate decarbonisa-
  tion in the banking sector in the MENA region.