Brunei divests from fossil fuels to fund renewable future ...Kuwait

News by : (The New Arab) -
Despite a distance of thousands of miles, Brunei shares many features with the kingdoms of the Persian Gulf. Like Qatar, Saudi Arabia, and their neighbors, Brunei counts itself as an Islamic monarchy rich in oil and gas reserves that fuel its economy and lend it outsize geopolitical heft. As climate change looms large, Brunei now finds that it also has a key goal in common with its Gulf counterparts: hastening an already-urgent transition from fossil fuels to renewable energy, a quest that Brunei can fund with its substantial profits from the petroleum industry. Brunei’s ambitions have grown in recent years. In 2014, the Southeast Asian sultanate indicated that it pla

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