Roll up!Roll up!The world’s biggest climate polluter, Saudi Aramco is poised to announce the world’s biggest stock flotation in an ultimate marriage of carbon and capital. Any institution with tens of millions of dollars and few qualms about the environment is invited.
Entry is not as exclusive as it sounds.Individuals with a lot less cash and a lot more concern may also inadvertently find themselves as guests through pension funds that automatically track the stock markets.
Scientists warn that fossil fuels and money will soon need to divorce because carbon emissions must be slashed by half over the next decade if the world is to have any chance of keeping global heating to a relatively safe level of 1.5C. Despite this, Aramco expects to receive the greatest infusion of cash in history.
In the modern era, no company has a bigger carbon footprint than Saudi Aramco.
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