Majid Al Suwaidi Named Personality of the Year for $30bn ALTÉRRA Fund Launch

Majid Al Suwaidi, CEO of ALTÉRRA and Director-General of COP28, has been named 'Personality of the Year' by Environmental Finance. The recognition follows the launch of the world’s largest private climate investment vehicle during the UN climate summit hosted in Dubai last December. Climate Finance Mobilisation ALTÉRRA launched with a $30 billion commitment from the UAE, aiming to mobilise $250 billion globally by 2030. The fund is designed to bridge the financing gap in emerging markets and developing economies, where traditional private capital has historically been slow to enter due to perceived risks. Under Al Suwaidi’s leadership, the fund focuses on four key pillars: energy transition, industrial decarbonisation, sustainable living, and climate technologies. The vehicle includes two distinct components: ALTÉRRA ACCELERATION, a $25 billion fund directed towards high-scale climate projects, and ALTÉRRA TRANSFORMATION, a $5 billion risk-mitigation fund. The latter is specifically structured to incentivise investment in the Global South, providing concessional capital to lower entry barriers for institutional investors. Global Impact and Partnerships Since its inception at…