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The Middle East Green Initiative Summit

Next 1,000 unicorns will be sustainable companies: Fink

RIYADH, October 26, 2021

The next 1,000 global companies valued at more than one billion dollars will be sustainable companies, predicts BlackRock chairman and CEO Larry Fink, speaking at the Middle East Green Initiative Summit in Riyadh on October 25. 
 
Fink said: "It’s my belief that the next 1,000 unicorns - companies that have a market valuation over a billion dollars - won’t be a search engine or media company. They will be businesses developing green hydrogen, and green agriculture, and green steel and green cement.
 
"That is not to say that we are going to divest from hydrocarbons. In fact, it is essential that we work with them and are playing a role in this solution.
 
"We’re supportive of hydrocarbon companies, and believe they will be part of the solution of the green revolution of new green technology.
 
"Many of them are at the forefront of developing methods of carbon capture and storage, which will play a major role in removing the carbon emissions we will continue to produce."
 
Earlier, HRH the Crown Prince of Saudi Arabia Mohammed bin Salman announced a series of regional programmes for climate action to an audience of dozens of heads of state at the event. On Saturday, the Crown Prince revealed that Saudi Arabia is aiming to achieve net zero emissions by 2060 through the Carbon Circular Economy approach.
 
The Middle East Green Initiative called for intensifying coordination and joint action to preserve and develop the importance of the environment and vegetation cover in Africa, in addition to establishing the Green Initiative Foundation as an independent non-profit entity to support the summit and raise the level of coordination.
 
High-level attendees at the Middle East Green Summit include Prime Minister of the Islamic Republic of Pakistan Imran Khan, Prime Minister of the Republic of Tunisia Najla Bouden, Prime Minister of the Kingdom of Morocco Aziz Akhannouch, Prime Minister of the Hellenic Republic Kyriakos Mitsotakis, President of the Libyan Presidential Council Mohamed Younis Menfi, Crown Prince and Prime Minister of the Kingdom of Bahrain His Royal Highness Prince Salman bin Hamad Al Khalifa, Crown Prince of the State of Kuwait Sheikh Mishal Al-Ahmad Al-Jaber Al-Sabah, Crown Prince of the Hashemite Kingdom of Jordan His Royal Highness Al Hussein bin Abdullah II, Amir of the State of Qatar His Highness Sheikh Tamim Bin Hamad Al Thani and HH Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister of the UAE and Minister of Finance.-- TradeArabia News Service
 



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