{"id":84927,"date":"2024-06-24T00:00:00","date_gmt":"2024-06-24T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/"},"modified":"2024-06-24T00:00:00","modified_gmt":"2024-06-24T00:00:00","slug":"brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/","title":{"rendered":"Brookfield wants to drum up USD 5 bn for Alterra-backed climate fund"},"content":{"rendered":"

Brookfield Asset Management <\/strong>eyes<\/strong> USD 5 bn first close for climate fund: <\/strong>Canada\u2019s Brookfield Asset Management aims to raise USD 5 bn for the UAE-backed Catalytic Transition Fund (CTF) to boost climate finance in emerging markets as part of its first close before the end of the year, according to a statement<\/a>. The Catalytic Transition Fund (CTF) is anchored by a USD 1 bn commitment from Alterra fund<\/a> set up by the UAE during COP28.<\/p>\n

What we know: <\/strong>Brookfield will contribute at least 10% of the capital. Alterra recently said it will direct an extra USD 200 bn<\/a> to investments over the next six years, after saying it aims to mobilize USD 250 bn in green investments by 2030.<\/p>\n

About the fund<\/strong>: The USD 30 bn vehicle was launched last year to increase climate funding for the Global South. Alterra\u2019s initial commitment \u2014 along with BlackRock, Brookfield, and TPG \u2014 was USD 6.5 bn to climate-dedicated funds.<\/p>\n","protected":false},"excerpt":{"rendered":"

The UAE\u2019s Catalytic Transition Fund has already pledged USD 1 bn during COP28<\/p>\n","protected":false},"author":1,"featured_media":84928,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[443],"tags":[442,11,164,52],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-84927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-climate-finance","tag-alterra","tag-enterpriseclimate","tag-green-finance","tag-uae","wpautop","entry"],"acf":{"mongo_id":"5a140494-3cc3-4394-ae03-46059c4e63e8","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/1468.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Brookfield wants to drum up USD 5 bn for Alterra-backed climate fund","related_issue":[84911],"teaser":"The UAE\u2019s Catalytic Transition Fund has already pledged USD 1 bn during COP28","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.ac7846b3-fd09-49da-a571-41f7c335300e.mp3"},"yoast_head":"\nBrookfield wants to drum up USD 5 bn for Alterra-backed climate fund - Climate<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brookfield wants to drum up USD 5 bn for Alterra-backed climate fund\" \/>\n<meta property=\"og:description\" content=\"The UAE\u2019s Catalytic Transition Fund has already pledged USD 1 bn during COP28\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"Climate\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-24T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1468.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Brookfield wants to drum up USD 5 bn for Alterra-backed climate fund\",\"datePublished\":\"2024-06-24T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/\"},\"wordCount\":159,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/6\/1468.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Alterra\",\"EnterpriseClimate\",\"green finance\",\"UAE\"],\"articleSection\":[\"CLIMATE FINANCE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/\",\"url\":\"https:\/\/enterpriseam.com\/climate\/2024\/06\/24\/brookfield-wants-to-drum-up-usd-5-bn-for-alterra-backed-climate-fund\/\",\"name\":\"Brookfield wants to drum up USD 5 bn for Alterra-backed climate fund - 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