{"id":272101,"date":"2023-12-02T19:09:44","date_gmt":"2023-12-02T13:39:44","guid":{"rendered":"https:\/\/forumias.com\/blog\/?p=272101"},"modified":"2023-12-02T19:09:44","modified_gmt":"2023-12-02T13:39:44","slug":"alterra-fund-uae-announces-30-bn-fund-to-boost-climate-investments","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/alterra-fund-uae-announces-30-bn-fund-to-boost-climate-investments\/","title":{"rendered":"ALT\u00c9RRA Fund: UAE announces $30-bn fund to boost climate investments"},"content":{"rendered":"

Source: <\/b>The post is based on the article <\/span>\u201c<\/b>ALT\u00c9RRA Fund: <\/b>UAE announces $30-bn fund to boost climate investments\u201d<\/b> published in <\/span>\u201cThe Hindu\u201d on 2nd December 2023<\/b><\/p>\n

Why in the News?<\/strong><\/h2>\n

At COP-28, the United Arab Emirates (UAE) has announced a new USD 30 billion fund called <\/span>ALT\u00c9RRA for climate investments and transforming emerging markets and developing economies.<\/span><\/p>\n

What is ALT\u00c9RRA?<\/strong><\/h2>\n\n\n\n\n\n\n\n\n\n\n
Specifications<\/span><\/b>\u00a0<\/span><\/td>\nDetails<\/span><\/b>\u00a0<\/span><\/td>\n<\/tr>\n
What<\/span><\/b>\u00a0<\/span><\/td>\nIt is a privately managed fund focussed on climate investments in emerging markets and developing economies.<\/span>\u00a0<\/span><\/td>\n<\/tr>\n
Established by<\/span><\/b>\u00a0<\/span><\/td>\nLunate, an independent global investment manager based in UAE<\/span>\u00a0<\/span><\/td>\n<\/tr>\n
Chair<\/span><\/b>\u00a0<\/span><\/td>\nCOP-28 President Sultan Ahmed Al Jaber will chair the fund.<\/span>\u00a0<\/span><\/td>\n<\/tr>\n
Targeted Corpus for the Fund<\/span><\/b>\u00a0<\/span><\/td>\nAims to mobilise $250 billion by 2030.<\/span>\u00a0<\/span><\/p>\n

UAE has pledged $30 billion to the fund.<\/span>\u00a0<\/span><\/td>\n<\/tr>\n

Key Verticals<\/span><\/b>\u00a0<\/span><\/td>\nThe fund\u2019s investments will be guided by four key pillars:<\/span>
\n1) Energy Transition<\/span>
\n2) Industrial Decarbonization<\/span>
\n3) Sustainable Living<\/span>
\n4) Climate Technologies<\/span>\u00a0<\/span><\/td>\n<\/tr>\n
Fund\u2019s Investment Plans for India<\/span><\/b>\u00a0<\/span><\/td>\n1) Initially, a portion of this fund will support development of over 6 GW of new clean energy capacity in India.<\/span>
\n2) This includes creating 1,200 MW of wind and solar projects that will begin producing clean energy by 2025.<\/span>\u00a0<\/span><\/td>\n<\/tr>\n
Significance<\/span><\/b>\u00a0<\/span><\/td>\nBy 2030, emerging markets and developing economies will require $2.4 trillion every year to address climate change.<\/span>\u00a0<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

UPSC Syllabus: Environment<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article \u201cALT\u00c9RRA Fund: UAE announces $30-bn fund to boost climate investments\u201d published in \u201cThe Hindu\u201d on 2nd December 2023 Why in the News? At COP-28, the United Arab Emirates (UAE) has announced a new USD 30 billion fund called ALT\u00c9RRA for climate investments and transforming emerging markets and… Continue reading ALT\u00c9RRA Fund: UAE announces $30-bn fund to boost climate investments<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[4182,1],"tags":[11872,10498],"class_list":["post-272101","post","type-post","status-publish","format-standard","hentry","category-environment","category-uncategorized","tag-9pm-daily-factly","tag-the-hindu","entry"],"jetpack_featured_media_url":"","views":{"total":10,"cached_at":"","cached_date":1701559073},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/272101","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=272101"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/272101\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=272101"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=272101"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=272101"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}