The next 1000 unicorns will be sustainable businesses: fink

The Middle East Green Initiative Summit

The next 1,000 global companies valued at over $ 1 billion will be sustainable businesses, predicts BlackRock CEO Larry Fink at the Middle East Green Initiative summit in Riyadh on October 25.

Fink said: “I have no doubts that the next 1,000 unicorns – companies with a market valuation of over $ 1 billion – will not be a search engine or a media company. They will be companies that will develop hydrogen. green, green agriculture and green steel and green cement.

“This does not mean that we are going to divest ourselves from hydrocarbons. In fact, it is essential that we work with them and play a role in this solution.

“We support the hydrocarbon companies and believe that they will be part of the solution of the green revolution of new green technologies.

“Many of them are at the forefront of developing methods of carbon capture and storage, which will play a major role in eliminating the carbon emissions that we will continue to produce.”

Earlier, HRH Crown Prince of Saudi Arabia Mohammed bin Salman announced a series of regional climate action programs to an audience of dozens of heads of state at the event. On Saturday, the Crown Prince revealed that Saudi Arabia aims to achieve net zero emissions by 2060 through the circular carbon economy approach.

The Middle East Green Initiative called for increased coordination and joint action to preserve and develop the importance of the environment and land cover in Africa, in addition to establishing the Green Initiative Foundation as a independent non-profit entity to support the summit and raise the level of coordination.

High-level participants 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, Emir of the State of Qatar His Highness Sheikh Tamim Bin Hamad Al Thani and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Sovereign of Dubai, Deputy Prime Minister of the United Arab Emirates and Minister of Finance.

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