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ORIGINAL RESEARCH article

Front. Clim.
Sec. Climate and Economics
Volume 6 - 2024 | doi: 10.3389/fclim.2024.1449311

Discovering the Effectiveness of Climate Finance for Somalia's Climate Initiatives: A Dual-Modeling Approach with Multiple Regression and Support Vector Machine

Provisionally accepted
Mohamed I. Nor Mohamed I. Nor 1*Mohamed B. Mussa Mohamed B. Mussa 2,3
  • 1 SIMAD University, Mogadishu, Somalia
  • 2 Sayid Mohamed Technical Education College, Beledhawo, Somalia
  • 3 Sayid Mohamed Technical Education College, Buula-Hawo, Somalia

The final, formatted version of the article will be published soon.

    This research investigates into the complex dynamics of climate finance in Somalia, a vulnerable region facing the dire consequences of climate change. This study aims to explore the effectiveness of climate finance for Somalia's climate initiatives. Employing a dual-methodological approach, the research integrates multiple regression analysis and support vector machine (SVM) techniques. This approach allows for a robust examination of climate finance data to uncover the key determinants of funding effectiveness and the extent of funding shortfalls in Somalia. The study reveals that adaptation finance, robust governance, and the scale of financial interventions significantly affect the flow of climate-related funds. Conversely, areas such as mitigation finance and gender equality show less significant effects, highlighting a critical area for further investigation. Additionally, a pervasive underfinancing of climate projects was identified, demonstrating a substantial gap between needed and actual funds. The insights provided are vital for policymakers and practitioners, suggesting that enhancing governance frameworks and focusing on large-scale financial interventions can significantly improve the allocation and effectiveness of climate finance. This is particularly crucial in regions like Somalia, where climate vulnerability is high. The originality of this study lies in its comprehensive methodological framework that combines quantitative analyses to assess climate finance dynamics uniquely. This approach not only confirms but also quantifies the impacts of various factors on the effectiveness of climate finance in a vulnerable context. This research contributes to the existing literature by providing empirical evidence on the roles of adaptation finance, governance, and financial scale in climate finance. It extends theoretical models by incorporating these elements into a cohesive analysis and offers new insights into optimizing climate finance strategies in vulnerable regions.

    Keywords: climate finance, governance, Adaptation funding, Financial scale, Climate resilience

    Received: 14 Jun 2024; Accepted: 09 Sep 2024.

    Copyright: © 2024 Nor and Mussa. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

    * Correspondence: Mohamed I. Nor, SIMAD University, Mogadishu, Somalia

    Disclaimer: All claims expressed in this article are solely those of the authors and do not necessarily represent those of their affiliated organizations, or those of the publisher, the editors and the reviewers. Any product that may be evaluated in this article or claim that may be made by its manufacturer is not guaranteed or endorsed by the publisher.