Where Middle East Investors Are Investing in Climate Tech

The interest in addressing climate issues remains strong among investors in the Middle East, particularly in Saudi Arabia, the UAE, and Qatar.

In the 12 months leading up to September 2023, Middle East players significantly tripled their global funding for climate tech innovation, reaching an impressive $5 billion.

However, a notable gap emerged in funding for local climate tech entrepreneurs.

In 2023, funding for Middle East climate tech innovators sharply dropped to $152 million, a significant decrease from the nearly $1 billion in 2022, representing a decline of more than 80%.

According to PwC's Middle East Climate Tech Report, the number of tracked deals dropped from 139 to 52, and both the number of startups and unique investors hit a five-year low.