Abu Dhabi-based non-profit organization Global Mission is looking to raise USD 17 bn for the Global Fund for Sustainable Development, state news agency WAM reports. The fund, which will be based in the Abu Dhabi Global Market, aims to commit USD 1 bn to each Sustainable Development Goal (SDG), executive director of operation and administration at Global Mission Mohamed Elsamad told WAM. It will work with 100 projects from around the world during its first year, he added, noting that the projects would be implemented through public-private partnerships (PPPs).

There’s a lot we don’t know about the fund, starting with who its raising money from. So far, there are very few details about how the fund will operate and who the global partners that the fund has contracted are. The project’s director was clear that the fund will be global, serving projects in different regions, with emphasis on creating impact.

IN OTHER CLIMATE FINANCE NEWS-

Dubai says its will earmark AED 40 bn (USD 10.8 bn) for renewable energy projects, Zawya quotes Ahmed Buti Al Muhairbi, the Secretary-General of the Dubai Supreme Council of Energy, as saying during the World Green Energy Summit in Dubai last week. Al Muhairbi did not specify the timeframe of the investment, nor whether the renewable energy projects will be exclusive to Dubai.

ON THE RETAIL SIDE OF THINGS-

The Bank of Bahrain and Kuwait (BBK) is now providing sustainability financing for retail customers looking to adopt energy-saving technology and renewable energy sources in their houses, a BBK statement details.