Saudi Arabia plans to sell state oil assets to create $2tn wealth fund
by Terry Macalister Energy editor from Environment | The Guardian on (#1916X)
Campaigners hail a symbolic shift away from fossil fuels, but others see move as more style than substance
Saudi Arabia is planning to establish a $2tn (1.4tn) sovereign wealth fund by selling off its state petroleum assets in preparation for a world beyond oil.
Greenpeace said it was a pivotal moment akin to Switzerland abandoning banking, but others claimed Riyadh had long wanted to diversify its economy and spread its wealth though it had failed to do so.
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