“According to a report by Bloomberg, Saudi Aramco, the world’s biggest oil company, successfully secured funds from sustainable investors through a complex financial arrangement.
Although Aramco did not initially intend to tap into funds designated for ESG goals, the involvement of ESG investors in financing a fossil fuel company raises concerns about the strategies used in the Gulf region.”
[COMMENTARY] The article demonstrates that you can’t trust even the largest investment firms to do proper diligence when it comes to sustainable investing! One message from this, concerning green bonds at least, is where possible to invest in securities directly where you know for certain where the funds are going.
Unveiling Saudi Aramco’s Shocking Capitalization on Sustainable Investments, by Hannah Fischer-Lauder, July 11, 2023, Impakter, UK.