The Global Climate Finance Centre (GCFC), a COP28 legacy initiative headquartered in Abu Dhabi Global Market (ADGM), and ALTÉRRA, the US$30 billion catalytic climate investment fund launched at COP28, are partnering to scale up climate investments in emerging and developing economies, it has been announced.
The GCFC and ALTÉRRA, the world’s largest climate-focused private investment vehicle, shared that they will collaborate in several key areas:
- Impact: The two will collaboratively develop a shared approach to transition frameworks and engage stakeholders to align with ALTÉRRA’s evolving climate impact framework.
- Innovative Partnerships and Approaches: They will work together to identify the most effective methods to scaled-up deployment of climate finance into emerging and developing markets. This, they shared, may involve market research and landscape mappings on institutions that provide de-risking and guarantee instruments, as well as exploring different approaches and partnerships to unlock investment and collaboration.
- Leadership: The parties will co-produce thought leadership and address key climate finance topics.
- Integration: GCFC and ALTÉRRA shared that they are both committed to fostering synergies within the climate finance landscape by collaborating on existing United Arab Emirates’ and global climate initiatives. The GCFC and ALTÉRRA will also co-develop and co-host events to facilitate knowledge sharing, partnership building, and the advancement of innovative climate finance solutions.
Commenting on the partnership, Ambassador Majid Al Suwaidi, CEO of ALTÉRRA, said: “Financing the new climate economy will require unprecedented levels of collaboration, innovative approaches and tools to unlock capital flows at scale into transformative solutions and into developing countries. ALTÉRRA is committed to this endeavor, and our new partnership with GCFC is an important step towards easing the bottlenecks that impede climate investments and to explore solutions necessary to address the critical challenges we face in advancing the climate transition.”
Mercedes Vela Monserrate, CEO of the Global Climate Finance Centre, said: “The partnership between GCFC and ALTÉRRA is a significant step forward in accelerating the flow of climate finance to developing economies, where it’s urgently needed. By combining our expertise and resources, we can unlock new investment opportunities, drive positive climate impact, and contribute to a more sustainable future for all.”