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Abu Dhabi Bailed Out Dubai – – Is the World is Next?

They hope to invest in companies that make their economy more efficient.

Driving around Abu Dhabi, the capital of the United Arab Emirates, you can easily see the massive construction sites and melting pot of cultures. What is less evident is that a sustainability revolution is going on, from the most humble corner shop to the highest levels of government.

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Abu Dhabi may best be known in recent times for a financial bailout of its sister emirate, Dubai, but just as it preserved its oil wealth with a more practical approach than others, it has also quietly embraced a suite of measures to make its buildings, businesses, and homes more sustainable in terms of other critical resources.

Upon entering the Environment Agency, for example, a billboard proclaims that the ubiquitous, flimsy plastic grocery bag has been banned as a means to conserve resources and reduce pollution. That may sound trivial, but if we did the same thing in California, we would eliminate 19 billion plastic bags from landfills every year (yes, just one state uses that many throw-away bags!). Even small measures can save a lot of resources and money.

More significant, I met with members of government and the construction industry here and they are all competing to make their new projects more energy efficient and use greener building materials. A new marina boasts docks made of recycled plastic; a new high-rise (that coincidentally houses the city’s major investment authority) has earned the highest green building rating for things like recycled water use and sophisticated lighting and air conditioning controls; solar projects are sprouting up everywhere, including a massive utility-scale project that is being developed in the desert outside of town.

Perhaps the most impressive thing about the leaders you meet here however is their commitment to share their experience with the world. Make no mistake – – this is not purely altruistic, they hope to invest in companies that make their economy more efficient and sell those technologies globally, but the city is a living laboratory that is open for anyone to see if you look beyond the oil wealth and the apparent contradictions. In fact, speak to their investment managers and you hear a desire to put their money to work in this space – – investing in green building materials, LED lighting, fuel cells, bio-fuels, waste-to-energy projects and other low-carbon, sustainable resource plays that will create a regional economy that lasts far longer than oil.

The message in all of this is clear – – Abu Dhabi’s leaders understand that if the world continues to consume resources at the same rate – – including less visible resources like the climate and public health – – we’ll run out of almost everything in a few decades. 70% of the building stock needed in the US and EU between now and 2050 has already been built. By contrast, in China, India, and the Middle East, 70% of their needs have yet to be built.

If Abu Dhabi succeeds, it will become a model for growing economies everywhere – – and that may just bail out the world in a much bigger sense than money alone.

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About the author

From his youth in Australia to career experiences in Europe, Africa, China and across the United States, Terry has developed expertise in business, farming, education, non-profit, the environment, the arts, and government. A United States Coast Guard-licensed ship captain, Terry has long been drawn to the undersea world, starting in the 1960s with a family-run tropical fish breeding business in Australia and continuing with studies on conch depletion in the Bahamas, manatee populations in Florida coastal waters, and mariculture in the Gulf States with Texas A&M University. On land, Terry managed the largest sheep ranch east of the Mississippi, assisting the University of Minnesota in developing new methods of livestock disease control. Terry also managed a multi-million dollar real estate company, owned a successful recreational services business, and assisted the West African nation of Nigeria with the creation of their first solid waste recycling program. In 1993, Terry founded the Santa Monica BayKeeper and co-founded additional Waterkeeper programs in five California watersheds

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