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Aramco launches $1.5bn sustainability fund 

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Meenal Datar

Membership specialist
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Aramco, energy and chemical company, has launched a $1.5 billion (1.5 billion) fund in technology that can support a stable and inclusive energy transition. The fund plans to invest in technologies that support the company’s announced net-zero 2050 ambition in its wholly owned operational assets, in addition to the development of new lower-carbon fuels.  

The fund, which will target investments globally, will initially focus on carbon capture and storage, greenhouse gas emissions, energy efficiency, nature-based climate solutions, digital sustainability, hydrogen, ammonia, and synthetic fuels.  

Aramco president and CEO, Amin H. Nasser, says: ‘The sustainability fund reinforces our commitment to leverage innovative technologies that will make a difference in addressing the dual challenge of achieving greater energy security and sustainability, and show how these two great imperatives can and must co-exist.’ 

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