UAE president establishes $30B fund for global climate solutions

By Mahmoud Barakat

ANKARA (AA) – United Arab Emirates (UAE) President Mohammed bin Zayed Al Nahyan on Friday announced the establishment of a $30 billion fund for global climate solutions.

The fund aims to bridge the financial gap regarding climate issues and would attract $250 billion investment by 2030, Al Nahyan said in his opening remarks at the UN climate change conference, or commonly known as COP28 this year, in Dubai.

He stressed that the UAE has invested $100 billion in financing climate action, and renewable and clean energy, and is committed to investing an additional $130 billion over the next seven years.