ALTÉRRA investment vehicle aims to mobilize US$250 billion by 2030 and be fund of choice for climate transition, CEO tells World Governments Summit

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ALTÉRRA was launched at COP28 with a US$30 billion commitment from the UAE, making it the world's largest private investment vehicle for climate change action."The vehicle will play a critical role in driving climate investments to where it is most needed to unlock impact at scale to finance the climate economy," HE Ambassador Majid Al Suwaidi, COP28 Director-General and ALTÉRRA CEO said in a panel session."The vision for ALTÉRRA was borne out of the COP28 Presidency's Action Agenda focus on making climate finance more available, accessible and affordable to accelerate the global transition," Ambassador Al Suwaidi said."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 features an innovative two-part structure, with the first arm, the US$25 billion ALTÉRRA ACCELERATION, designed to steer capital towards investments at scale to accelerate the transition to a net-zero and climate-resilient economy.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.View original content:https://www.prnewswire.co.uk/news-releases/alterra-investment-vehicle-aims-to-mobilize-us250-billion-by-2030-and-be-fund-of-choice-for-climate-transition-ceo-tells-world-governments-summit-302061555.html