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

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.

• 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