UAE Set to Launch $30B Climate-Investment Fund
The United Arab Emirates (UAE) is set to initiate a substantial climate-related investment fund in collaboration with major financial players, including BlackRock, TPG, and Brookfield. Totalling $30 billion, the fund is part of the UAE’s commitment to addressing climate change and fostering sustainable initiatives. Lunate Capital, a recently established asset manager based in Abu Dhabi with $50 billion in assets, will oversee the fund.
At least $5 billion of the fund is earmarked for investments in Global South countries, emphasizing a global perspective in combating climate challenges. This move aligns with the UAE’s broader strategy, as the country has been linked to nearly $200 billion in investments this year, with a predominant focus on green energy projects, according to Financial Times analysis.
The collaboration with prominent financial entities and the substantial investment amount reflects the UAE’s dedication to contributing significantly to global sustainability efforts. This initiative adds momentum to international endeavours to address climate-related issues and promote environmentally responsible investment practices.
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