Do you know what is Alterra Fund launched at COP-28?
Read this post to know the major points about it for UPSC prelims 2024.
- The ALTERRA Fund was launched by the UAE President Sheikh Mohammed Bin Zayed.
- The fund has a total value of $30 billion.
- The fund aims to attract $250 billion in investments by the year 2030.
Allocation:
- $25 billion of the fund is allocated to support climate strategies.
- $5 billion is dedicated to incentivizing investment in the Global South.
Four Key Pillars:
- Energy Transition: The fund focuses on supporting initiatives related to transitioning to cleaner and more sustainable energy sources.
- Industrial Decarbonization: This pillar suggests a commitment to reducing carbon emissions within industrial processes.
- Sustainable Living: The fund aims to promote and invest in practices that support sustainable and eco-friendly living.
- Climate Technologies: It will focus on the development and adoption of technologies that contribute to climate mitigation and adaptation.
Indiaโs first CAR-T cell therapy is developed through collaboration between the Indian Institute of Technology, Bombay and Tata Memorial Hospital in association with industry partner ImmunoACT. So, we have two of Indiaโs pioneering research institutes in their respective fields, joining hands with industry for a humanitarian cause.