The Clap
Saudi Crown Prince Mohammed bin Salman announced during the “Green Middle East Initiative 2022” that the Public Investment Fund (PIF) aims to reach carbon neutrality by 2050.
The Deets
The fund will be one of the first sovereign funds in the world and the first in the region to reach zero greenhouse gas emissions by this year, reinforcing its role as a major player in global efforts to address climate challenges.
So What
KSA will be the headquarters for the General Secretariat of the Middle East Green Initiative, contributing $2.5 billion to support the initiative’s projects and the General Secretariat’s budget over the next ten years.
Now What
According to Bloomberg, the PIF is considering submitting an offer to acquire the towers unit of Ooredoo, a company based in Qatar.
