Aramco launched an environmental master plan in 2001. In November 2022, Aramco signed an MoU with Indonesia’s PT Pertamina to collaborate in the exploration of the hydrogen and ammonia value chain, which will help Aramco achieve net-zero scope 1 and 2 greenhouse gas emissions across its wholly-owned operated assets by 2050. In October 2022, Aramco announced the launch of a $1.5 billion venture capital Sustainability Fund to invest in the technology required to move to a net-zero emissions future. In the same year, it signed an MoU with PIF to participate in a MENA regional Voluntary Carbon Market to be launched in Saudi Arabia in 2023.