ESG
CREDIT : MSCI ’ S CAPITAL FOR CLIMATE CONFERENCE IN LONDON
Brookfield Asset Management and UAE-backed climate investment platform ALTERRA of the US $ 5bn Catalytic Transition Fund .
The fund has been set up solely to direct capital into clean energy and transition assets in underserved emerging economies .
If that sounds like big money , consider ALTERRA ’ s back-story . It was launched by the government of UAE at the COP28 climate summit in Dubai in December 2023 .
The government made an initial US $ 30bn commitment and the goal is to mobilise US $ 250bn , all to be targeted at climate investments and aimed at improving access to climate finance in emerging markets .
Majid Al-Suwairi , CEO of ALTERRA , said : “ ALTÉRRA wants to challenge the status quo of how we invest in climate solutions , and our investment in the Catalytic Transition Fund reflects our ongoing commitment to go beyond business-as-usual .
“ We are passionate about ensuring capital goes where it is needed and that it drives impact for countries , communities and business .
“ Our catalytic capital will be deployed to supercharge investment in emerging markets – wherever we see great potential for delivering meaningful climate impact and positive economic return .”
Mark Carney , Chair and Head of Transition Investing at Brookfield Asset Management , said : “ The Catalytic Transition Fund is a private market solution to the global challenge of delivering transition investment to emerging markets .
“ Brookfield is already a leading transition investor in these regions and has first-hand knowledge of the incredible opportunity and impact that is available in these chronically underfunded markets .” Private finance to lead the way Mark calls the CTF a “ private market solution ” to the global challenge of getting transition investment to emerging markets . sustainabilitymag . com 75