Saudi Arabia's economy is transforming. What's behind it? The Public Investment Fund, or PIF.

It's one of the largest sovereign wealth funds in the world, creating 13 new sectors,

66 companies, and more than 500,000 direct and indirect jobs so far. PIF is also the first

sovereign wealth fund to issue a green bond supporting Saudi Arabia's 2016 Net Zero emissions target.

Find out more at pif.gov.sa.

Hello and welcome to the Intelligence on Economist Radio. I'm your host Jason Palmer.

Every weekday we provide a fresh perspective on the events shaping your world.

More than a century ago, an occupying German force in what is now Namibia

carried out a genocide. The country is only now owning up to the atrocities and trying to make

amends, but a freshly struck reparations deal won't end the controversy.

And there's plenty of vibrant Persian music to be had online. You just won't find it on streaming

services such as Spotify. We look at how artists are getting their tunes heard in a way that

turns the usual streaming model on its head. But first,

the weekend summit of the G7 has concluded that on the matter of the pandemic, the block's pledge

was clear cut. It'll deliver a billion vaccine doses to poor countries over the next year.

But another priority was climate change. Naturalist Sir David Adenborough had pressed

for cooperation on climate in a video message to the gathering. The decisions we make this decade,

in particular, the decisions made by the most economically advanced nations, are the most important

in human history. Britain's Prime Minister Boris Johnson suggested the leaders of the summit

would meet the moment. We were clear this weekend that action has to start with us.

In the end, the commitments on climate seemed straightforward, solid emissions targets,

a move away from coal, a renewal of an annual $100 billion budget to the developing world

...