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Saudi Aramco’s $80 Billion Deal Muddies Wealth Fund Before Green Debut

The Saudi sovereign wealth fund’s environmental credentials suddenly look a lot less appealing after it was handed an $80 billion stake in the world’s largest oil exporter, just ahead of its planned debut green bond.

The 4% of Aramco that the Saudi government is transferring to the Public Investment Fund will make up about 14% of the $580 billion sovereign wealth fund. That would make it the PIF’s biggest holding by value, according to data compiled by Bloomberg.