Alterra, the world’s largest private climate investment fund of $30 billion launched by the United Arab Emirates UAE last year, sees a lack of investment opportunities in the energy transition and has only spent a small part of its money, the fund’s chief executive Majid Al Suwaidi told Bloomberg.
The fund has stated its goal to mobilize as much as $250 billion globally by 2030 and help bridge the gap in investment into the solutions needed to keep the world on the 1.5 degrees Celsius pathway, drive investment into the Global South, and create new investment opportunities and strategies for emerging markets and developing economies EMDEs. In collaboration with BlackRock, Brookfield, and TPG as inaugural launch partners, Alterra has so far committed $6.