ABU DHABI – UAE President Mohammed bin Zayed Al Nahyan announced on Friday the launch of a new 30-billion-dollar climate-focused investment fund during the 28th United Nations Climate Change conference (COP28), currently in session at Expo City Dubai.
In his word at the opening session of the conference, the UAE president said the fund aims to stimulate the climate resilience-related investments of $250 billion by 2030.
In his word at the opening session of COP28, the UAE president announced the establishment of a 30-billion-dollar fund for global climate solutions, saying this fund is specifically designed to bridge the climate finance gap, ensuring availability, accessibility and affordability at scale.
The fund’s objective is to stimulate the raising and investment of $250 billion by 2030, he further noted.
The UAE has invested $100 billion in climate action and renewable and clean energy and is committed to investing an additional $130 billion over the next seven years, he added.
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