VIDEO: Aramco CEO stresses need for investment to ensure a better energy transition
At the Saudi Green Initiative Forum, Aramco president and CEO Amin Nasser emphasizes the need for investments that support a more realistic energy transition.
From the Saudi Green Initiative Forum:
Amin Nasser, president and CEO of Aramco
The current transition plan is impractical and not realistic. It's not helping us to achieve our goals.
Security, sustainability, availability, and affordability are all important issues.
We need to invest in and decarbonize existing resources like oil and gas and continue to do that while building your renewable sectors.
That needs to happen in parallel, and for that, you need huge investments.
In order to reach our goal, we need to invest in nature-based solutions, in efficiency improvements, in carbon capture and sequestration.
In our Sustainability Report, we talked about planting 600 million mangroves in-Kingdom and out-of-Kingdom.
The Sustainability Fund will help a lot of the startups that will find solutions to turn CO2 into useful products, or minimize emissions over the longer term.