ALTÉRRA investment vehicle aims to mobilize US$250 billion by 2030 and be fund of choice for climate transition, CEO tells World Governments Summit
"ALTÉRRA's structure, scale and scope set it apart from other investment vehicles and will help it become the go-to fund for the climate transition," he added.
- "ALTÉRRA's structure, scale and scope set it apart from other investment vehicles and will help it become the go-to fund for the climate transition," he added.
- The second arm, the US$5 billion ALTÉRRA TRANSFORMATION, is designed to provide risk mitigation capital to incentivize investment flows into the Global South.
- ALTÉRRA has a dedicated investment focus on four pillars that underpin the priorities of the COP28 Action Agenda: the energy transition, industrial decarbonization, sustainable living and climate technologies.
- "The UAE has committed US$30 billion to ALTÉRRA, making it the world's largest private investment vehicle for climate change action, and the fund aims to mobilize US$250 billion globally by 2030," HE Ambassador Majid Al Suwaidi, COP28 Director-General and ALTÉRRA CEO, said in a panel session.