COP28 Finance Day: $57bn committed in climate investments

Governments, businesses, investors and philanthropies have announced over $57bn across the climate agenda in the first four days of COP28.

Releasing investment figures to coincide with Finance Day, $2.5bn has been mobilised for renewables, $1.2bn for methane emission reduction and $568m pledged to drive investments in clean energy manufacturing.

The UAE has launched a $30bn catalytic fund, ALTÉRRA, with an emphasis on unlocking private finance across the Global South.

The country has also announced $200m for SDRs and $150m for water security, while the World Bank has announced an increase of $9bn annually to finance climate-related projects, alongside $725m pledged by countries for loss and damage funding.

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