UAE President Sheikh Mohammed Bin Zayed Al Nahyan, whose country is hosting the COP28 climate summit, announced on Friday the establishment of a $30bn (R560bn) climate fund for global climate solutions that aims to attract $250bn of investment by the end of the decade.

Dubbed Altérra, the fund will allocate $25bn towards climate strategies and $5bn specifically to incentivise investment flows into the Global South, according to a statement by the COP28 presidency...

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