UAE-based Altérra, one of the world's largest private climate investment funds, and Spain’s BBVA have announced a new strategic partnership under which BBVA intends to invest USD 250 million as a strategic partner in a new climate investment fund to be launched by Altérra, subject to the necessary regulatory approvals.
The fund will be headquartered in Abu Dhabi Global Market (ADGM) and will focus on financing energy transition projects, industrial decarbonization, climate technologies, and sustainable lifestyles across a range of global markets.
Dr. Sultan Ahmed Al Jaber stated that this step marks a new phase in Altérra’s growth and strengthens its ability to mobilize capital toward investments that generate positive climate impact. Meanwhile, BBVA Chairman Carlos Torres Vila noted that the partnership aligns with the bank’s strategy of placing sustainability at the core of its growth agenda while reinforcing its presence in Abu Dhabi and the wider region.
The initiative also reflects the growing importance of the UAE as a global hub for sustainable finance, at a time when BBVA aims to channel €700 billion towards sustainable projects between 2025 and 2029.
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