The energy sector is vital to efforts to combat climate change as well as achieve economic development. The economy of many Middle East and North African (MENA) countries, such as Algeria, Iran, Qatar, Saudi Arabia, is completely based on hydrocarbons which represent the main source of the state revenue. Investing in renewable energy and efficiency is a winner strategy, allowing both to ensure the necessary availability of energy to cover the country’s domestic energy demand and to make more resources available for export to guarantee the state earnings. Renewable sources can be a solution for a transition to a more sustainable economy and a response to the economic stability of these countries affected by the volatility of oil prices. Such a strategy is reflected in improving the attractiveness of foreign investment in the renewable energy sector. Focusing on Algeria, in this article, we analyze the link between the Algerian economy and energy, underlining the current weakness. This work is partially based on the research financed by the meetMED project (WP 3.1) on barriers for domestic and international investors in the energy sector of Algeria.
Part of the book: Sustainable Energy Investment
The chapter provides an overview of the public climate finance implemented under the UNFCCC by the EU as a whole and its Member States—in the chapter called EUplus—later taken over by SDG 13.a, for the period 2011–2018 (the latest year available). Through the analysis of the UNFCCC Biennial Reports, it is possible not only to highlight the amount allocated to the challenge against climate change, but also to break it down into its two meanings: mitigation and adaptation, as well as to identify the type of channel through which this support has been implemented. In this context, particular attention will be given to the two contribution channels: bilateral and multilateral, highlighting the type of support in different cases. The chapter shows an increase in contributions, especially since 2015, and how support has been increasingly shifted toward adaptation. This could mean that there is an awareness in a delay in achieving the stabilization of GHG emissions in the atmosphere.