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World News

COP28: UAE announces US$30 billion ALTÉRRA climate-focused investment vehicle

DUBAI: In a revolutionary move, the United Arab Emirates (UAE) has introduced the ALTÉRRA climate-focused investment vehicle, a monumental initiative boasting an unprecedented investment capacity of US$30 billion. This ambitious project aspires to mobilize a staggering US$250 billion from a blend of institutional and private sources, dedicated to propelling global climate action by 2030. This was announced on the second…