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Climate Adaptation

Air Pollution Costs Wider Mideast $141 Billion, World Bank Says

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Air pollution costs the Middle East and North Africa about $141 billion a year, or 2% of economic output, according to a World Bank report which urged nations to reform fossil-fuel subsidies, provide cleaner transport and create markets for emissions.

The findings will likely add to growing interest in green and sustainability-linked bonds and loans in the region, where offerings jumped two-and-a-half fold to almost $19 billion in 2021 from the year before. Borrowers can often cut costs through green bonds, used to fund projects to reduce emissions.