that Saudi Aramco has become an unlikely beneficiary of anti-climate change investing funds.
In order to generate cash to repay the bank loans, the EIG and BlackRock consortiums created two special purpose vehicles:and GreenSaif Pipelines Bidco, both registered at the same Luxembourg address. These SPVs then sold bonds, which, since they had no direct links to the fossil-fuel industry, ended up getting an above-average score in a widely-used JPMorgan Chase & Co. sustainability screening based on third-party ESG scores.
Ulf Erlandsson, CEO of the Anthropocene Income Institute, said that these complex financial structures complicate investing in purportedly climate-friendly funds.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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