Abu Dhabi UAE Looks to a Sustainable Future
During the early 20th century, the economy of Abu Dhabi, United Arab Emirates centered on camels and pearls. That changed dramatically 50 years ago with one simple discovery: oil. Today, the United Arab Emirates contains nearly one-tenth of the world’s oil supply. And Abu Dhabi, the largest of the seven emirates, owns roughly 95 percent of that reserve. With about $875 billion in assets, the Abu Dhabi Investment Authority is the wealthiest sovereign fund in the world.
Oil has defined Abu Dhabi’s fortunes, but recent developments suggest it won’t define the city’s future. The emirate is exploring a new path, one that emphasizes sustainability.
Case in point: Abu Dhabi broke ground earlier this year on Masdar City, a massive $22 billion portfolio of projects aimed at creating what’s billed as the world’s first zero-carbon, zero-waste, car-free city.
“Abu Dhabi is looking to position itself as the world leader in renewable and sustainable technology,” says Roland Salman, president of RW Armstrong, one of the companies working on Masdar City. The design and management consulting firm is headquartered in Indianapolis, Indiana, USA and opened an Abu Dhabi office in August 2005.
Masdar City may have the highest profile, but it’s just one of Abu Dhabi’s many projects aimed at increasing sustainability—
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