Davos, May 22 2022. During a televised interview on the sidelines of this year's World Economic Forum Annual Meeting at Davos, Switzerland, QIA CEO Mansoor Al-Mahmoud spelled out the important role QIA is playing in the energy transition. He told CNBC that as a long-term, responsible investor, QIA is focusing on technologies such as energy storage for renewables that can act as catalysts for the shift away from fossil fuels.
He laid out his vision when asked about the themes he believes will dominate the horizon in the year to come.
He said: “…Two years ago here in Davos we announced we will not deploy more in hydrocarbons, which is a big step, and we are drafting our policies which articulate our aim and how we monitor KPIs. This is a theme that has been spread over our teams. Whether they are in infrastructure or technology they are identifying opportunities."
He added: “We are very active in power generation and renewables. Forty-five percent of our power generation is zero emissions. We are active in Africa, US, and India. We are also investing in electric cars which is important as an automotive theme. We are active in technology in terms of energy storage which is really important for the transition and renewables."
He also mentioned QIA's 2021 investment in Rolls Royce and ended the interview by saying: “We are very active in every single aspect to make sure the world is moving toward the transition towards cleaner energy".
Other themes Mr. Al-Mahmoud focused on in the interview included the resilience of QIA's portfolio, diversification, inflation and the impact of technology on global industries.
Watch the full interview here