Welcome to Zero. I am Akshatrati. This week, sun, wind and making money.

The COP28 meeting that ended in December led to many big announcements.

That's the nature of these global climate diplomacy shindex.

Lots of countries make big promises, such as tripling renewable energy, transitioning away from fossil fuels.

It's only really years after that you can tell whether these countries were serious and delivered on those

promises or it was all just good sound bites. However, there was one achievement on the first day

of COP 28 in Dubai that is delivering results. The United Arab Emirates, the host country,

pledged to put $30 billion into a new climate finance fund named Altair.

And some of that money was immediately allocated to scaling up renewable energy projects in developing countries,

where the need for finance is the greatest.

One of the firms that's going to put some of those billions to work is the Canadian

asset management firm Brookfield.

Brookfield already manages more than $850 billion worth of assets, everything from real estate to private equity.

About a tenth of its total assets are in renewables and the climate transition.

In 2021, its renewable division launched the $15 billion Brookfield Global Transition Fund.

At the time, it was the world's largest private fund of its kind dedicated to financing the energy

transition. Brookfield is now raising a second fund

of the same kind, and Altera will invest $2 billion in that fund. More importantly,

and separately, Altera will invest $1 billion in a new fund that's supposed to only invest in developing

countries. So how exactly will it work?

To help me understand, I spoke to Connor Teske.

He started his career at Brookfield 11 years ago in private equity and became the CEO of

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