Capital Of The United Arab Emirates Pledges $15 Billion To Green Energy
Middle East now investing more in renewables than U.S.
|By Michael d'Estries in Energy, Green Politics | January 21, 2008|
At the opening ceremony of the World Future Energy Summit in Abu Dhabi (the capital of the United Arab Emirates), the government announced a $15 billion initial investment in projects targeting solar, wind and hydrogen power; carbon reduction and management; sustainable development; education; manufacturing; and research and development.
According to the article, this is the most ambitious sustainability program ever launched by a government.
“For nearly half a century, the emirate of Abu Dhabi has used its natural
resources to contribute to growth, development and security — our own as well as that of other countries,” said Masdar CEO Dr. Sultan Al Jaber.
“Today, as global demand for energy continues to expand and as climate
change becomes a real and growing concern, the time has come to look to the
future,” he continued. “Our ability to adapt and respond to these realities
will ensure that Abu Dhabi’s global energy leadership as well as our own growth and development continues.”
Abu Dhabi is also planning to build the world’s largest hydrogen power plant and a ‘sustainable city‘, housing about 50,000 people, that will produce no greenhouse gases and contain no cars. Construction on the city starts next month. Incredible!
That initial $15 billion investment will join other partners and ventures to create a grand portfolio many times larger. In other words, the Middle East is not banking on oil for the future. Imagine if the United States had such foresight?