Aramco and Acwa Power Look to Join Saudi Carbon Trading Exchange
- Five Saudi firms could join Middle East’s first carbon market
- Kingdom seeking to reshape its reputation on climate change
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Aramco, the world’s biggest oil producer, and four other Saudi Arabian companies could become the inaugural members of the first carbon market in the Middle East under agreements announced on Tuesday.
The kingdom’s sovereign wealth fund, which is launching the exchange, signed non-binding memorandums of understanding with Aramco, utility ACWA Power, Saudi Arabian Airlines Corp., miner Maaden, and ENOWA, an energy and water firm, it said in a statement.