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UAE has committed 30 billion dollars to the World Climate Action Summit at COP28

Published on December 04, 2023
Current Context: The UAE has committed $30 billion to the World Climate Action Summit at COP28, which is being held in Dubai from November 30 to December 15, 2023.
UAE has committed 30 billion dollars to the World Climate Action Summit at COP28
  • The UAE is the first Arab country to host the UN Climate Change Conference and has pledged to bring the world together to unite, work, and deliver on climate action.
  • The $30 billion fund, called ALTÉRRA, is the world’s largest private investment vehicle dedicated to climate action, and aims to mobilize $250 billion by 2030, focusing on emerging markets and developing economies.
  • The fund is designed to bridge the climate financing gap and facilitate affordable access to clean energy, low-carbon infrastructure, and climate resilience.

Question:

Q.1 What is the name of the $30 billion fund that the UAE has announced to support climate action?
a. ALTÉRRA
b. ALTAIR
c. ALBA
d. ALMA

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