Saudi Aramco launches $1.5bn Sustainability Fund to invest in net-zero tech

Saudi Aramco launches $1.5bn Sustainability Fund to invest in net-zero tech

Aramco, the Saudi National Oil Company, has launched a $1.5 billion Sustainability Fund to invest in technology that can support a stable and inclusive energy transition.

It was unveiled at the sixth edition of the Future Investment Initiative (FII) and is among the largest sustainability-focused venture capital funds globally.

Managed by Aramco Ventures, the venture capital arm of Aramco, the fund is an extension of the company’s efforts to meet the world’s growing energy demand, with lower greenhouse gas emissions.

It supports the company’s net-zero 2050 ambition in its wholly-owned operational assets, as well as the development of new lower-carbon fuels. Initial focus areas will include carbon capture and storage, greenhouse gas (GHG) emissions, energy efficiency, nature-based climate solutions, digital sustainability, hydrogen, ammonia and synthetic fuels. The fund will target investments globally.

In addition, Aramco’s wholly-owned subsidiary Aramco Trading Company has participated in the first voluntary carbon credits auction organized by the Public Investment Fund (PIF).

Yasir Al-Rumayyan

Chairman – Aramco “Climate change is a critical issue, which is why sustainability is well-integrated into Aramco’s strategy and investment decisions. The Company is harnessing innovation and collaboration as it seeks long-term solutions to global energy challenges. By driving large-scale investments and building key domestic, regional and international