UAE Launches $30 Billion Climate Action Fund

The UAE government announced the launch of ALTÉRRA, a new investment platform aimed at channeling private capital towards climate investments and improving access to climate finance in emerging markets, with a focus on the Global South. With an initial commitment of $30 billion from the UAE, ALTÉRRA aims to mobilize $250 billion globally by 2030. Launch partners include BlackRock, Brookfield, and TPG, with ALTÉRRA investing $6.5 billion into climate-focused funds managed by these partners. The platform aims to create a fairer climate finance system and address the need for $2.4 trillion annually in emerging markets and developing economies to tackle climate change. ALTÉRRA will consist of two components, ALTÉRRA ACCELERATION and ALTÉRRA TRANSFORMATION, to support climate resilience and incentivize capital flows into the Global South.

Resource: https://www.esgtoday.com/uae-launches-30-billion-climate-action-fund/

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