Statement on the United Arab Emirates Creation of the Altérra Fund for Climate Finance

I welcome President Mohamed bin Zayed's announcement of the Altérra Fund, a $30 billion catalytic climate finance vehicle aimed at mobilizing the capital and investment needed to fight the global climate crisis. Altérra can play an important role in supporting the clean energy transition and enhancing resilience, particularly the $5 billion focused on making it easier to invest in least developed countries and small island developing states. And it reflects the United States and U.A.E.'s common commitment—solidified last year through our Partnership for Accelerating Clean Energy—to broaden clean energy investments and reduce emissions globally.