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Asharq Al-Awsat
Asharq Al-Awsat
Business
Riyadh - Asharq Al-Awsat

Saudi Arabia to Create Largest Venture Capital Fund Globally

Aramco Saudi Arabia Saudi Aramco Yasir AlRumayyan
The logo of Aramco is seen as a security personnel walk before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed/File Photo

Saudi Aramco announced on Wednesday the creation of a $1.5 billion sustainability fund to invest in technology to support a stable and comprehensive energy transition. This is considered one of the largest sustainability-focused venture capital funds globally.

Aramco’s decision to start the fund aligns with Saudi efforts to reduce greenhouse gas emissions.

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