What's Hot

    African leaders commit to ending AIDS among children by 2030

    February 2, 2023

    Etihad Airways increases its frequency to Frankfurt

    February 2, 2023

    Lebanon devalues its currency by 90 percent, market rate is much lower

    February 1, 2023
    Facebook Twitter Instagram
    Trending
    • African leaders commit to ending AIDS among children by 2030
    • Etihad Airways increases its frequency to Frankfurt
    • Lebanon devalues its currency by 90 percent, market rate is much lower
    • Indian FM presents $550 billion progressive and inclusive Union Budget
    • Outstanding operational performance by Etihad Cargo in 2022
    • Vietnam-India bilateral trade reached record levels in 2022
    • Djokovic tops ATP rankings, Sabalenka No. 2
    • Pakistan mosque suicide bombing death toll rises to 88
    • Home
    • Contact Us
    Riyadh ReportRiyadh Report
    Thursday, February 2
    • Automotive
    • Business
    • Entertainment
    • Health
    • Luxury
    • Lifestyle
    • News
    • Sports
    • Technology
    • Travel
    Riyadh ReportRiyadh Report
    Home » Aramco announces a $1.5 billion sustainability fund

    Aramco announces a $1.5 billion sustainability fund

    October 27, 2022

    In an effort to support a stable and inclusive energy transition, Saudi Aramco has launched a $1.5 billion Sustainability Fund. Among the largest global sustainability-focused venture capital funds, it was announced at the sixth edition of the Future Investment Initiative (FII). The fund, which is managed by Aramco Ventures, is part of the company’s efforts to reduce greenhouse gas emissions, while meeting the world’s growing energy demand.

    Aramco announces a $1.5 billion sustainability fundInvesting in these technologies will allow the Company to achieve net-zero emissions in its wholly owned assets by 2050, as well as develop new lower-carbon fuels. The initial focus areas will include carbon capture and storage, greenhouse gas emissions, energy efficiency, nature-based climate solutions, digital sustainability, hydrogen, ammonia, and synthetic fuels. Global investments will be the focus of the fund.

    Further, Aramco Trading Company has participated in the first voluntary carbon credit auction being held by the Public Investment Fund (PIF). Aramco and PIF signed a Memorandum of Understanding earlier this year to participate in a regional voluntary carbon market to be launched in Saudi Arabia in 2023.

    By 2050, Aramco aims to achieve net-zero greenhouse gas (GHG) emissions across all its wholly-owned and operated assets. In June, the Company also announced a set of interim targets that it aims to achieve by 2035, which are intended to reduce or mitigate net Scope 1 and Scope 2 GHG emissions across its wholly-owned operated assets by more than 50 million metric tons of CO2e annually, when compared to the business-as-usual forecast.

    Keep Reading

    Lebanon devalues its currency by 90 percent, market rate is much lower

    Indian FM presents $550 billion progressive and inclusive Union Budget

    Outstanding operational performance by Etihad Cargo in 2022

    Vietnam-India bilateral trade reached record levels in 2022

    Philips cuts 13 percent of jobs in a safety and profitability drive

    German-Australian hydrogen supply chain investment of $90 million

    Latest News

    African leaders commit to ending AIDS among children by 2030

    February 2, 2023

    Etihad Airways increases its frequency to Frankfurt

    February 2, 2023

    Lebanon devalues its currency by 90 percent, market rate is much lower

    February 1, 2023

    Indian FM presents $550 billion progressive and inclusive Union Budget

    February 1, 2023

    Outstanding operational performance by Etihad Cargo in 2022

    February 1, 2023

    Vietnam-India bilateral trade reached record levels in 2022

    February 1, 2023

    Djokovic tops ATP rankings, Sabalenka No. 2

    January 31, 2023

    Pakistan mosque suicide bombing death toll rises to 88

    January 31, 2023
    © 2021 Riyadh Report | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.