Aramco announced its intention to expand its focus on emerging sectors at the Future Investment Initiative Forum.
During the forum, the company highlighted its potential new projects in green hydrogen, sustainable technology solutions, advanced nonmetallic building materials, and digitalization.
Aramco affirmed its willingness to seek new projects that could reduce greenhouse gas emissions (GHG). The gesture came as a part of its ambition of achieving net-zero Scope 1 and Scope 2 GHG emissions, across its wholly-owned operated assets by 2050.
Meanwhile, Aramco has signed five Memoranda of Understanding (MoUs) with companies of Modern Industrial Investment Holding Group, Intercontinental Energy South Pole Carbon Asset Management Ltd, Yousef Abdulrahman AlDhabyan Agricultural, BFG and ABB to implement its plans.
On this occasion, Aramco President and CEO Amin H. Nasser said, “Our plans illustrate our focus on developing innovative projects and investments, which support our long-term business strategy and aim to have a positive impact. Collaboration will be crucial in promoting economic development and creating new opportunities, as we expand our portfolio, diversify our business, advance low-carbon energy technologies and develop sustainable solutions.”
Additionally, other new initiatives were disclosed during the forum, where global leaders and investors discussed topics including but not limited to the future of venture capital.