Central Idea

The United Arab Emirates, as the host of COP-28, has committed US$30 billion to establish ALTÉRRA, a climate investment fund.

What is ALTÉRRA Fund?

Fund Objective: ALTÉRRA aims to mobilize US$250 billion globally by 2030, aspiring to be the largest fund dedicated to climate investments.
Focus: The fund is designed to transform emerging markets and developing economies through climate investments.
Clean Energy in India: An initial portion of the fund is allocated for developing over 6.0 GW of new clean energy capacity in India, including 1,200 MW of wind and solar projects expected to be operational by 2025.
Financial Requirements: Emerging markets and developing economies reportedly need US$2.4 trillion annually by 2030 to address climate change.
Key Verticals: ALTÉRRA will focus on four main areas: Energy Transition, Industrial Decarbonisation, Sustainable Living, and Climate Technologies.

Chair: COP-28 President, Sultan Ahmed Al Jaber, will chair the ALTÉRRA fund.
Management Entity: Lunate, an independent global investment manager, has established ALTÉRRA.
Domicile: The fund is domiciled in the Abu Dhabi Global Market.

Transformational Solution: ALTÉRRA is positioned as a transformative solution for attracting private capital into climate-focused investments.
Multiplier Effect: The fund’s scale and structure are expected to create a significant impact in climate investment.
Reflection of COP Presidency’s Action Agenda: The launch of ALTÉRRA aligns with the UAE’s COP Presidency Action Agenda and efforts to make climate finance more available, accessible, and affordable.