Speaking today at the AIM Summit in Dubai, HRH Prince Khaled bin Alwaleed bin Talal Al Saud decried what he considered alarmist views of the climate crisis, stressing that a measured approach was needed to align environmental goals with economic growth.
Moderated by Rami Kiwan, an economist at the UAE Ministry of Economy, Prince Khaled headlined a panel entitled, “The Impact of US elections on Energy Transition.” The founder and CEO of KBW Ventures drew attention to various portfolio companies that stood to benefit based on the different approaches of a Trump or Harris US Administration.
Prince Khaled said that a “reversal of legislation is unlikely to happen,” alluding to the Biden Administration’s executive order on advancing biotechnology and biomanufacturing in September 2022.
Kiwan turned the conversation to Alwaleed Philanthropies’ commitment to Breakthrough Energy Ventures, highlighting HRH Prince Alwaleed bin Talal’s impact investment in the Fund founded by Bill Gates. “There is a need for philanthropy and impact investing; both channels need to be activated to move on climate change,” Prince Khaled said.
Launched by UAE Minister of Economy, HE Abdulla bin Touq Al Marri, AIM speakers included HE Badr Jafar, CEO, Crescent Enterprises and UAE Special Envoy for Business & Philanthropy, and 55th Speaker of the United States House of Representatives, Kevin McCarthy, and Rt. Hon Boris Johnson, former Prime Minister of the United Kingdom.
AIM Summit is a platform for discussions on investment developments, global market conditions and latest trends. AIM Summit Dubai 2024 is taking place from October 21 to 22, 2024 at Jumeirah Emirates Towers.
Related: Five KBW Ventures portfolio companies listed in TIME’s 2024 Top Greentech Companies ranking
