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The world of renewables this week

Saudi Aramco has raised $25.6 billion in the world’s largest initial public offering, with stocks surging by 10% since to give the oil giant a record value of $1.88 trillion. The 1.5% share of Aramco was sold primarily to local investors, with analysts pointing out that “foreign investors (with the exception of UAE and Kuwait) have been almost completely absent.” Aramco is the largest single contributor towards global emissions, with 59.27 billion tons of CO2 equivalent released since 1965. Wary investors and fund managers will likely be deterred due to the social pressure around climate change, and the early excitement around its stock is unlikely to last. ExxonMobil’s court case for misleading investors is likely see stakeholders worried about Aramco’s…

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