• GCFC and ALTÉRRA collaborate to enhance global capacity and uptake of climate investments through innovation, market-leading intelligence and reducing barriers in emerging and developing markets.

Abu Dhabi, UAE: In a major boost for climate action, the Global Climate Finance Centre (GCFC), a COP28 legacy initiative focused on catalysing climate investments and solutions globally, head-quartered in Abu Dhabi Global Market (ADGM), and ALTÉRRA, the world’s largest climate-focused private investment vehicle, today announced a new partnership to collaborate on scaling up climate investments in emerging and developing economies.

ALTÉRRA, the US$30 billion catalytic climate investment fund launched at COP28, seeks to bridge the climate financing gap by mobilizing up to $250 billion of institutional and private capital by 2030 and driving climate investment to where it is most needed to unlock impact at scale. ALTÉRRA features an innovative two-part structure, designed to both bridge the gap in investment into the solutions needed to keep the world on the 1.5C pathway, and to drive investment into the Global South, and create new investment opportunities and strategies for emerging markets and developing economies (EMDEs). The GCFC helps to create an ecosystem that enables investments into low-carbon, sustainable and resilient projects by bringing together cutting-edge research, capacity building programs, and leading experts to develop fit-for-purpose financial frameworks.

The partnership will leverage the combined strengths of both organizations to drive climate action. The GCFC aims to address key barriers that deter climate investment flows to help make climate finance available, affordable, and accessible. The centre serves as the hub for experts, financial institutions, businesses, and governments to collaborate, innovate, and channel capital towards climate solutions, projects, and initiatives that promote sustainable development, with a particular emphasis on emerging and developing markets.

The GCFC and ALTÉRRA will collaborate in several key areas to enhance global capacity and uptake of climate investments:

  • Impact: collaboratively develop a shared approach to transition frameworks and engage stakeholders to align with ALTÉRRA's evolving climate impact framework.
  • Innovative Partnerships and Approaches: work together to identify the most effective methods to scaled-up deployment of climate finance into emerging and developing markets. These initiates may involve market research and landscape mappings on institutions that provide de-risking and guarantee instruments, as well as exploring different approaches and partnerships that would help unlock investment and collaboration.
  • Leadership: co-produce thought leadership and addressing key climate finance topics such as de-risking solutions, investment opportunities across diverse sectors and geographical regions, and the advancement of transition finance solutions.
  • Integration: both GCFC and ALTÉRRA are committed to fostering synergies within the climate finance landscape by collaborating on existing United Arab Emirates' and global climate initiatives. Additionally, the GCFC and ALTÉRRA will 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.”



Alterra is the world’s largest private investment vehicle for climate finance, with a USD30 billion commitment announced by the UAE government at COP28.  Established by Lunate, Alterra mobilises global capital for climate investments through its two funds - Alterra Acceleration and Alterra Transformation. Alterra aims to enable a net zero future by making climate capital more accessible, with a focus on the Global South.

About GCFC

Based in ADGM, Abu Dhabi’s leading International Finance Centre, the Global Climate Finance Centre (GCFC is a COP28 legacy initiative focused on fostering innovation, convening stakeholders, and providing capacity building for financial actors globally.

GCFC was announced during the UN Conference of the Parties (COP28) in the UAE, and is a collaborative initiative between ADGM, ADQ, BlackRock, CIFF, GFANZ, HSBC, Masdar, NinetyOne, and World Bank. Serving as a lasting outcome from COP28, this independent hub in Abu Dhabi, will continue to support the scale-up of well-functioning, aligned green finance markets to drive the growth of climate finance.

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