UAE’s ALTÉRRA has invested in a BlackRock fund that recently acquired a major fossil gas pipeline in North America, sparking criticism over greenwashing and inconsistency with its climate finance commitments.
Critics argue that this move contradicts ALTÉRRA’s pledge to support climate solutions, highlighting the ongoing tension between stated climate goals and investment practices.
This development comes amidst global climate finance discussions and UN negotiations, raising questions about the sincerity of climate pledges by major investors.
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