Saudi Arabia to Start Investment Fund for Carbon Capture

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Crown prince’s comments follow the kingdom’s net-zero pledge

Crown Prince Mohammed bin Salman — Crown Prince Mohammed bin Salman
Photographer: Jeenah Moon/Bloomberg

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By Vivian Nereim

October 25, 2021 at 2:46 PM UTC

Updated on

October 25, 2021 at 3:48 PM UTC

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Saudi Arabia said Middle Eastern economies will be boosted by efforts to cut planet-warming gases and announced a fund to invest in carbon-capture technology.

“Climate change is an economic opportunity for individuals and the private sector,” Crown Prince Mohammed bin Salman said in Riyadh on Monday at a forum attended by several heads of state. Reducing emissions will “create jobs and strengthen innovation in the region.”