Saudi Says Wealth Fund Aims to Reach Carbon Neutrality by 2050
Crown Prince Mohammed Bin Salman
Photographer: Mandel Ngan/AFP/Getty Images
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Saudi Arabia’s sovereign wealth fund will target net-zero emissions by 2050, the Crown Prince said in Sharm El-Sheikh, as the world top oil producer says it aims to diversify its economy away from oil.
“I today announce the Public Investment Fund aims to reach carbon neutrality by 2050,” Crown Prince Mohammed Bin Salman said at the climate change talks in the Egyptian Red Sea resort. Saudi Arabia aims to generate 50% of its electricity from renewables by 2030, he added.