COP28: UAE president announces $30 billion climate fund

COP28: UAE president announces $30 billion climate fund

Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates speaks during the World Climate Action Summit Opening Session at Al Waha Theatre during the UN Climate Change Conference COP28 at Expo City Dubai on Dec 1, DUBAI, UAE, Dec 2: President Sheikh Mohamed Bin Zayed Al Nahyan welcomed global leaders to …

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Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates speaks during the World Climate Action Summit Opening Session at Al Waha Theatre during the UN Climate Change Conference COP28 at Expo City Dubai on Dec 1,

DUBAI, UAE, Dec 2: President Sheikh Mohamed Bin Zayed Al Nahyan welcomed global leaders to the World Climate Action Summit (WCAS) at COP 28 by introducing a $30 billion fund named Altérra. This initiative aims to address the climate finance gap, with the goal of stimulating $250 billion in investments by 2030.

Speaking at COP28 in Expo City Dubai, Sheikh Mohamed emphasized the UAE’s commitment to accelerating the world’s transition to a low-emission growth economy. He highlighted the persistent challenge of a lack of readily available and affordable climate finance