Saudi oil co Aramco launches $1.5 B global sustainability fund

Saudi oil and gas company Aramco has launched a USD 1.5 Billion fund for sustainable investments. The fund will focus on "breakthrough technologies that are important and startups that will help to address climate change". It would invest globally and launch immediately. A key area that Aramco's fund will focus on is carbon capture and storage, which involves sucking heat-trapping carbon dioxide from factory smokestacks and storing it underground. Other investment themes the fund will target include greenhouse gas emissions, energy efficiency, nature-based climate solutions, digital sustainability, hydrogen, ammonia and synthetic fuels.