In September 2023, IHC launched a new subsidiary, Lunate—a global alternative investment manager with $105 billion in assets under management as of March 2024. In December 2023, the COP28 Presidency announced ALTÉRRA, which was established by Lunate to drive significant investments into scalable climate solutions. With an initial commitment of $30 billion in catalytic capital from the U.A.E., it will aim to mobilize $250 billion globally by 2030. The group also created Sirius International Holding to consolidate IHC’s green assets. In the same year, it launched S3, a new company that will manage $5 billion in Climate Financing towards Methane, Carbon, Circular Economy, and Water Efficiency.