UAE’s $30 Billion Climate Investment Fund at COP28

  Dec 15, 2023

UAE’s $30 Billion Climate Investment Fund at COP28

1. What is the ALTÉRRA fund announced at COP28?

ALTÉRRA is a $30 billion climate investment fund launched by the UAE at COP28, aimed at mobilizing private capital for climate investments, particularly in emerging markets and the Global South.

2. What are the objectives of ALTÉRRA, launched at COP28?

The fund’s goals include mobilizing $250 billion by 2030 for climate investments and creating a fairer climate finance system.

3. How will ALTÉRRA contribute to the COP28 climate action goals?

By driving investments in climate strategies and the Global South, ALTÉRRA supports the broader COP28 agenda of accelerating global climate action and finance.

4. Who are the partners in the ALTÉRRA fund?

Global asset managers BlackRock, Brookfield, and TPG are partners, helping to mobilize additional capital from institutional investors.

5. What is the significance of ALTÉRRA in the context of COP28?

The launch of ALTÉRRA at COP28 underscores the UAE’s commitment to leading transformative solutions for climate-focused investment, especially in under-served regions.

6. How does ALTÉRRA plan to support climate action in developing countries?

ALTÉRRA aims to provide risk capital and leverage concessional finance to attract investments in the Global South, addressing the climate finance gap highlighted at COP28.

7. How does the ALTÉRRA fund align with the global climate finance needs identified at COP28?

The fund aligns with the COP28 discussions on the necessity of increasing climate finance in emerging markets and developing economies.


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