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RIYADH: Aramco Executive Vice President of Technology and Innovation Ahmad O. Al-Khowaiter on Tuesday emphasized greater collaboration to advance innovative solutions in water conservation and energy sustainability.

According to a press release, the top official was speaking at the Global Water, Energy and Climate Change Congress in Bahrain. It said that Al-Khowaiter highlighted the company’s commitment to advancing solutions in water conservation and energy efficiency, emphasizing that collaborative innovation is key to meaningful change.

On the need for greater collaboration, Al-Khowaiter said: “Meeting these global challenges requires a level of collaboration that is faster, deeper, and more inclusive than ever before. For me, collaboration is the catalyst for innovation — and innovation is the driver of global transformation. This cross-pollination of ideas is key to gaining fresh perspectives and scaling up cutting-edge solutions. By working together — truly as one team — we can accelerate the transformation needed to secure a more sustainable water and energy future for all.”

Addressing the importance of a realistic energy transition, he added: “Even with trillions of dollars invested in alternatives, we cannot simply abandon the oil and gas infrastructure that continues to power modern civilization. That is why technologies such as carbon capture and storage, direct air capture, and AI-driven efficiency improvements are not just promising — they are essential to achieving meaningful emissions reductions and a sustainable future.”

On Aramco’s water conservation initiatives, the official said: “At Aramco, we are committed to water stewardship through a range of initiatives, including diversifying our water supply. We are increasing wastewater reuse and we are minimizing water losses across our operations and communities. We are leveraging digital solutions to drive greater efficiency, and I am proud to share that last year alone, we reduced our freshwater consumption in Aramco by nearly 8 percent.”

The Global Water, Energy and Climate Change Congress, held from Sept. 9 to 11 under the patronage of Shaikh Khalid bin Abdulla Al-Khalifa, deputy prime minister of Bahrain, gathers over 5,000 international policymakers, researchers, and industry leaders. 

This year’s event is organized in collaboration with Aramco, the UN Environment Program, and Bahrain’s Ministry of Oil and Environment.

RIYADH: ��������’s Capital Market Authority approved a regulatory framework enabling licensed firms to offer sukuk and debt instruments through crowdfunding platforms, expanding financing access and diversifying funding sources. 

The framework, effective immediately, applies to institutions licensed for “arranging” activities and follows an experimental phase that began in the second quarter of 2021. 

The authority introduced amendments to the Rules on the Offer of Securities and Continuing Obligations, the Rules for Special Purpose Entities, and the Capital Market Institutions Regulations. 

The CMA aims to broaden participation in the debt market, deepen its structure, and enhance liquidity by enabling crowdfunding-based debt offerings as part of exempt cases under the offering rules. Private placements are also permitted, potentially increasing the scope and size of such offerings. 

“The framework is designed to increase the number of capital market institutions engaged in fintech activities and supports diversification and sustainability of corporate funding sources,” the CMA said. 

During the experimental phase, the sukuk crowdfunding market witnessed growth, with issuance rising to SR3.4 billion ($905.94 million) in 2024 from SR1.5 billion in 2023. The number of firms licensed under the framework increased to 17, up from 14 the previous year.

The CMA also introduced governance reforms for SPEs, aimed at streamlining procedures and facilitating securitization transactions. 

Amendments broaden the eligibility criteria for sponsors, allow debt issuance via exempt offerings, and clarify the roles of board members and fund managers. They also mandate independent trustees to represent debt holders and require that board members be unaffiliated with sponsors or originators. 

The number of licensed SPEs rose to 1,239 by mid-2025, an 87.2 percent increase from the previous year, reflecting growing interest from fintech firms and small and medium-sized enterprises. 

The reforms are expected to boost liquidity, enhance market depth, and create new investment opportunities, particularly in the sukuk and asset-backed financing segments. 

The CMA’s recent regulatory actions reflect the continued expansion and diversification of ��������’s capital markets. 

By the end of the second quarter of 2025, individual investment portfolios rose nearly 12 percent year on year to 13.91 million, while managed portfolios grew 29.5 percent. Total assets in these portfolios reached SR352.6 billion. 

The growth, alongside rising foreign investments and stronger engagement in international markets, underscores increasing investor participation and interest in a broader range of financial instruments beyond traditional equities.