UAE climate fund aims to mobilise $250bn by 2030

UAE climate fund aims to mobilise $250bn by 2030

Altérra, a $30 billion climate-focused fund set up by the UAE and asset managers BlackRock, TPG and Brookfield, aims to catalyse the investment of $250 billion of private capital by 2030, its chief executive said.  “The vision for Altérra was borne out of the Cop28 agenda for how to make climate finance more available, accessible […]

Altérra set up at Cop28 

Two-part strategy 

$4.4trn climate funding gap

Altérra, a $30 billion climate-focused fund set up by the UAE and asset managers BlackRock, TPG and Brookfield, aims to catalyse the investment of $250 billion of private capital by 2030, its chief executive said. 

“The vision for Altérra was borne out of the Cop28 agenda for how to make climate finance more available, accessible and affordable and remove barriers impeding investment, especially into the Global South,” said Majid Al Suwaidi, Altérra’s chief executive and director general of Cop28. 

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Altérra, which is headquartered at Abu Dhabi Global Market free zone, was announced during the UN climate summit last year.

The aim is to make it the private sector “fund of choice” for the climate transition, Al Suwaidi told the World