CNBC's Jenni Reid is reporting that UAE seeks to silence critics with $30-billion climate fund pledge with BlackRock and Brookfield.
The United Arab Emirates announced a $30 billion contribution to a new fund, Alterra, aimed at directing private capital towards climate investments, particularly in the Global South. This fund, in partnership with BlackRock, Brookfield, and TPG, intends to facilitate $250 billion in investments by 2030. Alterra will focus on areas such as energy transition and industrial decarbonization. The announcement, made at the COP28 climate summit, sees COP28 President Sultan al-Jaber chairing the board. This move comes amid scrutiny over al-Jaber's dual role as COP28 president and ADNOC CEO.
Source: CNBC
https://www.cnbc.com/2023/12/01/uae-commits-30-billion-to-new-climate-focused-fund-run-with-blackrock.html
(This article was written with assistance from ChatGPT)
