ALTÉRRA ANNUAL IMPACT REPORT 2025

Driving returns and impact through innovative climate investing

Our Mandate & Approach

Launched with the ambition to catalyze up to $250 billion in climate investment by 2030, ALTÉRRA was created to challenge long-held assumptions that investors must choose between returns and impact, that climate investment is a cost, and that opportunity is limited to developed markets. Our inaugural Impact Report outlines how catalytic capital, innovative structures, and global partnerships are already reshaping how and where climate finance flows.

ALTÉRRA goes beyond capital deployment. We co-create funds, pioneer catalytic structures, and convene partners to unlock capital at scale, with a distinct focus on growth markets. Since launch, we have moved from ambition to execution, deploying capital across five continents and more than 40 countries and helping to mobilize tens of billions of dollars into climate solutions.

Guided by our Impact Framework, we measure impact not only in numbers, but in the transformational change enabled. Impact is embedded across the investment lifecycle, with the same discipline, governance, and accountability applied to financial performance, reinforcing that building a climate-resilient economy represents a compelling investment case.

ALTÉRRA’s progress to date reflects this approach in action. Some highlights:

B+

Equity capital mobilized

New growth market funds co-launched, expected to mobilize ~$23B capital

Companies invested in

Renewable energy pipeline

Tons est. CO₂e emissions avoided p.a. ≈ electricity use of 4M+ households globally

Countries active exposure across five continents

Dimensions of ALTÉRRA’s Impact

Climate Impact

We prioritize investments that deliver measurable reductions in greenhouse gas emissions, accelerate the adoption of clean technologies and solutions, and support climate adaptation and resilience across markets.

Capital Mobilization

ALTÉRRA’s investments are designed to crowd in institutional capital, particularly in underserved markets, demonstrating commercial viability and unlocking replicable investment models. A defining feature of this approach is financial additionality, which measures how much new third-party capital ALTÉRRA helps unlock beyond its own commitments.

Ecosystem Change

We seek to drive systemic change by supporting innovative structures that unlock capital at scale in growth markets, building capacity, and fostering partnerships and approaches that enable broader market transformation. This includes shaping new blended-finance models, expanding institutional participation, and laying the foundations for repeatable investment at scale.

Our partnership with ALTÉRRA reflects a shared commitment to directing capital where it can create long-term impact. Through TPG Rise Climate's Global South Initiative, we are working together to expand opportunity, strengthen markets, and support sustainable growth across emerging economies. This collaboration is building a new model for capital deployment, one that views impact not as an afterthought, but as a core measure of enduring value.

– Jim Coulter, Founding Partner, Executive Chair and Director, TPG

We were honored to partner with ALTÉRRA to launch our first dedicated transition fund for emerging markets. Their vision of deploying catalytic capital to crowd in much needed investment in the Global South has been truly transformative. ALTÉRRA’s commitments to our Global Transition Fund and their direct investments in our largest portfolio companies makes them a leading partner to our transition franchise.

– Bruce Flatt, CEO of Brookfield

ALTÉRRA has established itself as a leading global investor in the energy transition, expanding opportunities through catalytic investment. BlackRock is proud to be one of ALTÉRRA’s partners as it brings scale and innovation to how capital is deployed around the world.

– Larry Fink, Co-founder, Chairman & CEO, Blackrock

Two years ago, ALTÉRRA was launched on a bold conviction: that we can ignite a new era of global growth, one that delivers meaningful value for both planet and investors. This inaugural Impact Report marks a defining milestone in our journey, telling the story of how purpose and profit can be mutually reinforcing through innovative partnerships and approaches to unlock capital and solutions at scale.

– H.E. Dr. Sultan Al Jaber, Chairman of ALTÉRRA