Abu Dhabi, UAE: On the momentous occasion of COP28, Abu Dhabi Global Market (ADGM), the international financial centre of the UAE’s capital and the principal climate finance partner of COP28, is proud to be the home of the newly launched catalytic climate vehicle ALTÉRRA established by Lunate the global alternative investment management company, the world’s largest private climate investment vehicle. This historic initiative, which saw the United Arab Emirates commit a USD30 billion in catalytic capital, positions ALTÉRRA to mobilise USD 250 billion globally by 2030, focusing on transforming emerging markets and developing economies.

As the principal climate finance partner of COP28, ADGM has played a pivotal role in shaping the global dialogue on climate finance and aligning international efforts towards climate action. ADGM, the leading climate finance hub of the region, is uniquely distinguished by its innovative progressive regulatory framework and a centre for strategic partnerships that drive the global and regional transition towards a sustainable economy.

"The launch of ALTÉRRA at ADGM is a testament to our efforts to lead in the space of climate finance," said H.E Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Global Market. "This aligns perfectly with ADGM's mission to foster climate finance and supports the UAE's vision to spearhead transformative global initiatives. We take pride in being the home for such a pioneering venture that is set to make a significant global impact."

ALTÉRRA’s innovative two-part structure consists of ALTÉRRA ACCELERATION, a USD25 billion component aimed at steering institutional capital towards impactful climate investments, and ALTÉRRA TRANSFORMATION, a USD5 billion component focusing on risk mitigation capital in the Global South. This structure aligns with COP28’s Action Agenda, targeting Energy Transition, Industrial Decarbonisation, Sustainable Living, and Climate Technologies.

ALTÉRRA, domiciled in ADGM and established by Lunate, reinforces its status as a leader in managing large investment platforms. ALTÉRRA’s collaboration with inaugural launch partners BlackRock, Brookfield, and TPG, totalling a USD 6.5 billion commitment, is set to catalyse further investment, including significant projects in India and explorations in Africa and Latin America.

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About Abu Dhabi Global Market (ADGM)

Abu Dhabi Global Market (ADGM) is the international financial centre (IFC) of the capital city of the United Arab Emirates, which opened for business on 21st October 2015. ADGM augments Abu Dhabi’s position as a leading financial centre and a business hub serving as a strategic link between the growing economies of the Middle East, Africa, South Asia and the rest of the world.

Operating within an international regulatory framework based on the direct application of The English Common Law, ADGM governs the entire Al Maryah Island and Al Reem Island which is designated as the financial free zone of Abu Dhabi.

ADGM is ranked as one of the most preferred top IFCs in the Middle East and Africa region and named MENA’s largest Fintech hub. Its progressive and inclusive business ecosystem gravitates toward global financial and non-financial institutions while leveraging synergies between ADGM and multiple jurisdictions positioned as one of the world’s most advanced, diverse and progressively governed financial hubs.

For more details on ADGM, please visit www.adgm.com or follow us on Twitter and Instagram: @adglobalmarket and LinkedIn: @Abu Dhabi Global Market (ADGM)

For media queries please contact: 
Simon Hailes 
Managing Director Middle East  
Edelman Smithfield
E: simon.hailes@edelmansmithfield.com

Kaja Mhisen
Corporate Communications, ADGM 
E: media@adgm.com