Launch of $30 billion ALTÉRRA Climate Fund at COP28 by UAE
The United Arab Emirates government announced the establishment of a $30 billion investment platform, ALTÉRRA, during the COP28 climate conference in Dubai. This initiative is aimed at directing private capital into climate investments, with a focus on emerging markets and the Global South.
ALTÉRRA is reported by the UAE as the largest investment vehicle for climate change action. Its goal is to mobilise $250 billion globally by 2030. The platform's launch partners include prominent financial firms BlackRock, Brookfield, and TPG. ALTÉRRA plans to invest $6.5 billion into climate-focused funds managed by these partners.
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