Not far from one of the richest and most polluting cities in the world, Abu Dhabi, the first no-carbon, no-waste town is eight months away from being populated with its first inhabitants.
Its name? Masdar City. The value? Over 24 billion dollars. The objective? Crossing the actual borders of energy conservation and pollution control and stepping into what we could call â€œthe next energy investment: renewable energyâ€.
While sitting comfortably on about one tenth of the discovered reserves of petroleum, the Arab Emirates has recently been investing huge sums of money into discovering and implementing new sources of renewable energy; one way they plan to reach that goal is by creating a global renewable investments fund by sustaining the existence of a university campus (the Masdar Institute of Science and Technology), focused on clean energy production.
Also, in the perspective of a future International Renewable Energy Association numbering no less than 142 nations, Masdar City might be the home for it, as well as the meeting place for a World Future Energy Summit, one of the biggest events ever planned in the field of clean technology industry, the last of which took place one week ago and had climate change as the main subject of discussion.
The reason for these initiatives seems to be a simple one, according to the declarations of Sultan Ahmed Al Jaber, who supervises this green technology revolution: the Arab Emirates are aware of the fact that the Earthâ€™s resources of fossil fuels will not last forever.