UAE's ALTERRA and Spanish lender BBVA plan to launch $1.2 billion climate fund

Core Viewpoint - The United Arab Emirates climate fund ALTERRA is set to launch a $1.2 billion co-investment vehicle in collaboration with Spanish lender BBVA to support climate-aligned investments globally across various sectors including infrastructure, private equity, and private credit [1] Group 1 - ALTERRA aims to finance climate-aligned investments, indicating a strategic focus on sustainability and environmental responsibility [1] - The partnership with BBVA highlights a growing trend of collaboration between financial institutions to address climate change through investment [1] - The $1.2 billion fund signifies a substantial commitment to climate finance, reflecting the increasing importance of environmental considerations in investment decisions [1]