Saudi pledges more than $1 bn in ‘green era’ initiatives

Saudi Arabia’s de facto ruler pledged more than $1 billion for new global environmental initiatives on Monday, taking further steps to bolster the green credentials of the world’s top oil exporter. Two days after targeting carbon neutrality by 2060, and ahead of next week’s COP26 global climate change summit, Crown Prince Mohammed bin Salman announced two initiatives to fund the “circular carbon economy” and provide “clean fuel” to help feed 750 million people worldwide. The two initiatives were targeted to cost 39 billion riyals ($10.4 billion). Saudi Arabia will contribute 15 percent and see…

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