Arab Coordination Group allocation of US$10 billion to support energy transition

Abu Dhabi Fund for Development hosts the 91st ACG meeting on the sidelines of COP28

The Arab Coordination Group (ACG), a strategic alliance comprising regional and international development institutions, announced at COP28 an allocation of US$10 billion until 2030. This funding is meant to drive a comprehensive and affordable transition to renewable energy in developing countries. The commitment is an integral part of a strategic plan encompassing seven key points designed to expedite the global shift towards clean energy sources. It further aligns with the group’s earlier pledge of US$24 billion.

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