Masdar City signs agreement with Zero Carbon Ventures in push for carbon reduction
Abu Dhabi’s Masdar City has signed a preliminary agreement with Zero Carbon Ventures, a company dedicated to bringing carbon-reducing technologies to the Middle East.
Under the agreement, the entities will explore collaboration on advanced technologies to reduce carbon emissions in the UAE capital, Masdar City said in a statement on Wednesday.
The first project concerns the use of graphene to cut energy consumption of key buildings in Abu Dhabi.
The agreement with Zero Carbon Ventures, which operates out of Masdar City, “underscores our commitment to advancing the development of low carbon solutions and further supports the UAE’s net zero goals”, Ahmed Baghoum, executive director of Masdar City, said.
The move also “adds another important area of climate response specialisation to our dynamic network of tenants and comes at a particularly pivotal time as we pave the way towards the UAE’s hosting of Cop28 in 2023”, Mr Baghoum said.
Governments have made a commitment to cut their carbon footprint and set targets to meet global climate action goals.
In October last year, the UAE announced an initiative to reduce carbon emissions by 2050, investing Dh600 billion ($164bn) in clean and renewable energy sources over the next three decades.
The Arab world’s second-largest economy will be hosting Cop28 climate conference next year. The meeting, which will follow on from Cop27 in Egypt this November, will try to find solutions to the threats posed by climate change.
Spanning 29,000 square metres, it will feature seven single and multi-tenant office buildings, plus parking, enhancing Masdar’s contribution to the UAE’s net-zero by 2050 strategy.
“This agreement with Masdar City, one of the key agents of positive climate action in our region, is an extremely important one,” said Martin Reynolds, chief executive of Zero Carbon Ventures.
“Zero Carbon Ventures’ mission is to scour the globe to find world-class carbon-reducing innovations that can make a hugely positive impact in Abu Dhabi and the wider UAE.”
Masdar City opened in 2010. All buildings within it are mandated to achieve at minimum a 3-Pearl Estidama rating, meaning they are designed to reduce energy consumption by at least 40 per cent and reduce water consumption by at least 40 per cent, compared with regular buildings.
The community acts as a “global hub and facilitator for international and regional organisations working in sustainability research and development and innovation”, Mr Baghoum said.