Saudi Arabia’s sovereign fund PIF eyes net-zero emissions by 2050

By Yomna Yasser On Nov 7, 2022

Saudi Arabia Egypt COP27 — Saudi Arabia's Crown Prince Mohammed bin Salman meets with Egypt's President Abdel Fattah al-Sisi during the second edition of the summit of the Green Middle East Initiative, held on the sidelines of the COP27 climate conference at Sharm El-Sheikh, in Egypt, November 7, 2022. (Photo Credit: Bandar Algaloud/Courtesy of Saudi Royal Court/Handout via REUTERS ATTENTION EDITORS)

Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF) aims to attain net-zero emissions through sustainable development by 2050, Crown Prince Mohammed bin Salman said on Monday.
Prince Mohammed made these remarks at Middle East Green Initiative Summit held in tandem with COP27 in Egypt.
The kingdom will also contribute $2.5 billion to a green initiative in the Middle East over the next 10 years, and host its headquarters, the Saudi prince added.