Masdar times issue 17 3.05 MB
Transcript of Masdar times issue 17 3.05 MB
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Printed on 100 % recycled paper made with post consumer fibre.
2015 – Issue 03
Insi
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his
issu
e: Renewable Energy Innovation and Growthin Masdar City 5Reaching Out to Global Audience 6COP21 Asks for Pledges Not Promises 7Natural Legacy 9Green Financing 10Did You Know? 11
UAE,France and Peru co-host talks at UN on translating COP21 climate agreement into clean energy investment
The United Nations Framework Convention on Climate Change (COP21) is expected to result in a binding new global climate agreement. In preparation for this critical event, the UAE co- hosted a ministerial-level discussion on the side-lines of the UN General Assembly on how to best translate the climate agreement into real clean energy investment.
The New York-meeting, attended by government and business leaders, was co-hosted by H.E. Laurent Fabius, France’s Minister of Foreign Affairs and incoming President of COP21; H.E. Manuel Pulgar Vidal, Peru’s Minister of Environment and outgoing President of COP 20 and H.E. Dr Sultan Ahmed Al Jaber, United Arab
Emirates Minister of State and Special Envoy for Energy and Climate Change and Chairman of Masdar.
Among those attending the event, titled ‘UAE- France-Peru High Level Roundtable: Lima to Paris Action Agenda, Clean Energy Investment and COP21’, were government ministers from the United States, India, the United Kingdom, China, France, Norway, Peru and Switzerland. Senior representatives from government and non-government organisations also attended including from the United Nations, the Organisation for Economic Co-operation and Development (OECD), the World Bank, IRENA, Sustainable Energy for All, United Nations
Framework Convention on Climate Change (UNFCC), World Resources Institute, Goldman Sachs, Schneider Electric, Électricité de France (EDF), McKinsey & Co. and Masdar.
The meeting, the first of three, aimed to bring together leading political and business figures to ensure that the key stakeholders of COP21 have a strong understanding of the framework needed to drive investment towards climate change mitigation. The other meetings will take place in Paris at the COP21 conference, and in Abu Dhabi at the January 2016 Abu Dhabi Sustainability Week (ADSW). ADSW represents a gathering of the world’s top private sector investors, researchers, policymakers and civil society, which helps generate the concrete projects and technologies that put the global fight against climate change into effect.
Dr Al Jaber said: “The UAE reiterates its firm support for an ambitious agreement in Paris, and our belief that success will need to involve a combination of global partnership and domestic policy.
“This is where the UAE excels. Our country has a successful track record in partnering with governments and the private sector to focus efforts on limiting emissions, while driving sustainable economic growth. The UAE is a firm believer that rising to the climate challenge represents a major growth opportunity, leading to more jobs, more innovation, and more prosperity.”
The leaders’ breakfast came in the wake of the adoption by the United Nations of a vision for global sustainable development after 2015, dubbed the 2030 Agenda for Sustainable Development. This included the setting of 17 Global Goals or Sustainable Development Goals, which replace the Millennium Development Goals that shaped development strategies from 2000-2015. Addressing climate change is a critical part of meeting many of these goals, and is an overarching global priority.
The leaders’ breakfast represented a moment for policymakers and business leaders to jointly reflect on how to advance the new goal of “ensuring access to affordable, reliable, sustainable and modern energy for all” by 2030. The breakfast sparked an engaging discussion on some of the most pressing outstanding questions related to climate change, including “How can countries best deploy development aid in the clean energy space?” and “What would a successful global climate agreement look like for clean energy investors?”
With development and climate inextricably linked, driving cleaner investment is poised to be the central focus of policymakers and business leaders. By bringing together key government and private sector leaders in New York, Paris and Abu Dhabi, the leaders’ breakfast helped shape the partnerships and drive the investments required to achieve the next decade and a half of development as defined by the newly adopted ambitions, yet practical, climate agreement.
A team from the Masdar Institute has developed a unique water- saving device for mosques that will reduce consumption during the pre-prayer ablution ritual, known as ‘wudu’, by up to 95 percent.Dr Ahmed Al Jaberi, Assistant Professor of Mechanical and Materials Engineering, and PhD student Mohamed Al Musharrekh piloted the device at several local mosques during the holy month of Ramadan.
“Following the initial testing phase, the device will be installed in Masdar City prayer areas this autumn, which is an ideal time to test it as all the students will be back and it will get maximum use,” says Dr Al Jaberi.
“We are certain that the device will result in tremendous water savings and we hope that it will encourage users to adopt a more environmentally conscientious mindset about water wastage in general,” he adds.
The sustainable device can help reduce waterwastage by informing users of how much they have consumed while performing their ablutions. The device has an easy-to-read display that shows water usage and can be conveniently attached to existing water taps.
Once the 1.2-litre device is filled with water, the user tips it down to begin washing. Once the total amount is used, the device automatically returns to the upright position, thereby limiting usage.
The device also has a handy guideline marker at 600 millilitres, which was the amount used by the Prophet Muhammad.
UAE officials have initiated a number of projects in recent years designed to address water consumption in mosques. In 2012, a team of Abu Dhabi-based university students won a US$5,000 award to implement their ‘green wudu’ idea, which collects used ablution water for re-use as landscape irrigation.
In 2014, the Dubai Electricity and Water Authority (DEWA) retrofitted several mosques in Dubai with high-tech water reduction equipment, and the emirate is also home to the world’s first ‘green mosque’, the Khalifa Al Tajer Mosque.
MASDAR INSTITUTE DEBUTS INNOVATIVE WATER-SAVING DEVICE
Group Photo: H.E. Laurent Fabius, Foreign Minister of France; H.E. Dr. Sultan Al Jaber, UAE Minister of State and Special Envoy for Energy and Climate Change; and H.E. Todd Stern, United States Special Envoy for Climate Change; H.E. Xie Zhenhua, Vice Chairman of the National Development and Reform Commission of China; H.E. Amber Rudd, United Kingdom Secretary of State for Energy and Climate Change; Prakash Javadekar, Environment Minister of India; along with high-level representatives from the public and private sector.
BRAZIL AND US UNITE OVER RENEWABLES
INTERNATIONAL CLEANTECH NEWS MASDAR NEWS
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A tidal lagoon project to be built in Wales has
been given the green light by the UK government
following months of environmental debate. The
lead developer, Tidal Lagoon Power (TLP), is now
preparing to negotiate the amount of subsidies
to be paid for this initial project, with plans for
a further five lagoons contingent on a price
guarantee.
The project, which has received backing from the
Department of Energy & Climate Change (DECC),
will be located on the eastern side of Swansea Bay.
Commenting on the decision, Lord Bourne, UK
Energy Minister and Wales Office Minister, said:
“We need more clean and home-grown sources of
energy, which will help to reduce our reliance on
foreign fossil fuels. Low carbon energy projects
like this could bring investment, support local
jobs and help contribute to the Welsh economy.”
The tidal lagoon, which could be operational by
late 2018, would use the flow and ebb of the tide to
generate energy, which would then be converted
into electricity but faces a number of challenges
in being realised including a doubling of estimated
costs to £1 billion and ongoing environmental
concerns.
India’s government is looking to foreign investors
to help the country achieve its ambitious goal
of installing 100 gigawatts of solar power by
2022. The government is aiming to generate 40
gigawatts through rooftop solar initiatives, an
area that has “strong fundamentals” according to
Jasmeet Khurana, Head of Market Intelligence,
Bridge to India, who spoke at a recent webinar
organised in the lead-up to this year’s Solarplaza
Solar Project Development & Finance Tour.
Projects of 10+ megawatts are also being actively
promoted through varying measures such as
plans to amend India’s electricity act to include
an increased renewable purchase obligation of
10.5%, along with the introduction of a renewable
generation obligation and penalties for non-
compliance.
The development of plug ‘n play solar parks is
another state-level initiative. Khurana said that
commercial consumers in almost half the states
in India are at socket parity already, which means
rooftop solar makes sense without subsidies.
India’s current solar pipeline is already 10,000
megawatts, with experts predicting that this will
rise to 15 gigawatts by the end of 2015.
A new climate partnership between the US and
Brazil will hopefully see the restoration of 12
million hectares of deforested land and increased
renewable energy use by 2030. Barack Obama
and Brazilian President, Dilma Rousseff, have
agreed to obtain up to 20% of their respective
electricity from renewable power by that date with
the new climate partnership loosely modelled on
the historic US-China agreement reached during
Obama’s visit to Beijing in November 2014.
“As countries that are as vast as continents,
we have this very important greenhouse gas
emissions target. We also wish to turn the page
and engage in a clear-cut reforestation-oriented
policy,” said President Rousseff.
The pledge will require the US to triple its
production of wind and solar power and other
renewable energies with Brazil doubling its
production of clean energy.
Brazil also plans to expand renewable energy
sources other than hydropower to between 28%
and 33% of its total energy mix by 2030 with
both nations jointly announcing their intentions
to increase their share of renewable, non-
hydropower sources to 20%.
Small-scale hydropower projects will help
Nepal to get its infrastructure needs back on
track following the April 2015 earthquake that
devastated large parts of the country. According
to local sources, Power Purchase Agreements
(PPAs), totalling the equivalent of as much as
2,000-megawatts of additional power, have been
signed to date.
These agreements are important because Nepal’s
power infrastructure has historically been subject
to significant load shedding. Extended blackouts
are also part of daily life, and this has been further
affected with existing hydropower facilities
damaged or destroyed.
The Nepal Electricity Authority (NEA) says that the
country currently has peak power demand against
a generating capacity of just 791 megawatts.
Planned projects included the US$84.6 million
Kabeli-A Hydroelectric Project financed by the
World Bank Group, alongside a number of micro
projects with the Alternative Energy Promotion
Centre (AEPC) facilitating the construction of
more than 1,000 plants in 52 districts under the
National Rural and Renewable Energy Programme
(NRREP). This is funded by a consortium to the
tune of US$184 million over five years, and will
deliver almost 7,000 kilowatts of capacity.
The US Trade and Development Agency (USTDA)
has announced a new partnership with Nigeria’s
Quaint Global Energy Solutions with a grant for
a solar power project in the north of the country.
According to an official USTDA statement, the
project is a “great example” of how the US
and Nigeria are working together to increase
electricity access under President Obama’s
Power Africa initiative.
A Nigerian company specifically created to
develop renewable energy projects, Quaint Global
Energy Solutions will work with US energy project
developer, Tetra Tech ES Inc. on a feasibility study
to determine the best technical configurations for
the project.
The study will include the development of initial
costing for the project’s engineering, procurement
and construction. Once realised, it will deliver
50 megawatts of clean affordable energy to
residents of Kaduna State. Tetra Tech will also
provide training for the Quaint team to support
the company’s capacity to develop and operate
the project.
The UK government has unveiled plans to cut
subsidies for solar power projects in an attempt
to drive down annual household electricity bills.
Renewables experts have warned that the move
could mean a giant step backwards for the UK,
affecting jobs and also negating the credibility of
the Prime Minister, David Cameron, in addressing
climate change.
Government ministers have targeted five-
megawatt or smaller solar installations – enough
to power 2,500 homes each – ahead of the early
closure of the renewable obligation (RO) subsidy
in April 2016. The government has also announced
the review of the feed-in tariff subsidy and the
removal of the guaranteed level of subsidy for
coal or other fossil fuel power plants that switch
to greener fuels, such as biomass.
Commenting on the announcement, Amber
Rudd, UK Energy and Climate Change Secretary,
said: “Our support has driven down the cost
of renewable energy significantly. As costs
continue to fall it becomes easier for parts of the
renewables industry to survive without subsidies.
We’re taking action to protect consumers, whilst
protecting existing investment.”
A technical fault has temporarily grounded the
Solar Impulse 2 aircraft in Hawaii, with the one-of-
a-kind plane now scheduled to resume its record-
breaking circumnavigation of the globe in April
2016. Overheated storage batteries have been
named as the cause with the damage occurring
during its latest leg, a five-day, five-night journey
from Nagoya, Japan, to Hawaii, during which the
batteries sustained irreversible damage.
The aircraft is currently awaiting repair at a
University of Hawaii hangar at Oahu’s Kalaeloa
Airport while the engineering team researches
options for improved cooling and heating. “The
damage to the batteries is not a technical failure
or a weakness in the technology. Setbacks are
part of the challenges of a project which is
pushing technological boundaries to the limits,”
said a team statement. The plane has already
completed almost half of its planned journey,
covering eight of the 13 legs that started in Abu
Dhabi in March 2015.
The US solar community had a sneak peek at
Masdar’s new Solar Hub recently with the Abu
Dhabi headquartered company choosing to unveil
its latest initiative at the high-profile Intersolar
North America Conference in California.
Created by Masdar and the Masdar Institute of
Science and Technology (MIST), the new facility
supports the UAE’s goal of becoming one of the
most innovative nations in the globe within seven
years. The first independent high-quality solar
testing and R&D facility in the region, it will act as
a platform for research, new product development
and collaboration with local and international
companies.
Commenting on the launch, Dr Ahmad Belhoul,
CEO, Masdar, said:
“Renewables comprise one of the UAE’s key
national innovation strategy sectors, and it is
our mandate to support Abu Dhabi’s growth as
a global innovation focal point. This initiative will
prove invaluable to the solar industry’s entire
value chain while enhancing Masdar City’s
reputation as a leading clean technology cluster
and innovation ecosystem.”
Masdar showcased the Solar Hub’s offerings at
the three-day conference, and shared details of
how it will help industry researchers to enhance
their testing in order to create the most efficient
solar technologies so that they can operate
at maximum capacity under extraordinary
environmental conditions.
Speaking at the event, Dr Alexander Ritschel,
Senior Manager, also talked about other
complementary Masdar programmes that have
elevated the company’s reputation as a renewable
energy innovation leader. Outlining the close
links between energy and water, Dr Ritschel also
brought attention to additional Masdar initiatives,
including the renewable energy-powered
seawater desalination technology demonstration
projects in Ghantoot, located in the northern part
of the Emirate of Abu Dhabi.
Masdar’s largest overseas investment, the London
Array, has reached a new milestone, celebrating
two years of operational success. Since its launch,
the 630-megawatt project has produced more
than five-terawatt hours of affordable renewable
electricity, while mitigating more than two million
tonnes of CO2 emissions. Currently the world’s
largest offshore wind farm, it continues to deliver
clean and reliable energy to more than 500,000
throughout the UK.
“As the largest operating offshore wind farm, the
London Array has helped lead the way for the
global renewable energy sector,” said Dr Ahmad
Belhoul, CEO, Masdar.
The vast project, which covers an expanse of
100-square kilometres, is equal in size to 10,000
football pitches. The project was a mammoth
undertaking in the construction phase, requiring
the logistical support of 60 sea vessels and 1,000
people to build the 175 wind turbines that, today,
power nearly one in 50 British homes. Each wind
turbine has a circumference that is equivalent to
1.5 times the size of London’s Wembley Stadium
football pitch and is designed to run on a 24/7
basis for more than 20 years.
“The London Array’s performance over the past
two years is a powerful example of renewable
energy’s emergence as a cost-effective means
to deliver clean power to millions of citizens – no
longer are renewables an expensive alternative
power for the few,” noted Dr Belhoul.
A joint venture between E.ON (30%), DONG
Energy (25%), La Caisse de dépôt et placement
du Québec (25%) and Masdar (20%), the London
Array is located in the outer Thames Estuary, just
20 kilometres off the southeast coast of Kent.
UK TIDAL LAGOON GETS GO-AHEAD
NIGERIA TO GET MORE SOLAR POWER
INDIA TARGETS FOREIGN INVESTORS FOR SOLAR HYDROPOWER
HELPING NEPAL RECOVERY
UK SLASHES SOLAR SUBSIDIES
MASDAR SOLAR HUB LAUNCHED
LONDON ARRAY MARKS TWO-YEAR ANNIVERSARY
NEW MI FACILITY BOOSTS R&D CAPABILITIES
Masdar Institute of Science and Technology (MI) has unveiled a new Analytical Chemistry and Biochemistry (ACBC) Laboratory as part of its continuing contribution to the UAE’s locally initiated research infrastructure and capacity. Commenting on the new facility, Mike Tiner, Director of Labs at Masdar Institute, said, “The new ACBC Laboratory and all of the core labs at Masdar Institute are advanced research and training facilities. Our main focus is to increase advanced research and increase the number of researchers in the UAE with the skills to operate and understand the results provided by the equipment.”
The newly launched facility allows Masdar Institute’s researchers to conduct rapid process modification and development, thereby enhancing and accelerating important water, environment, food, energy, and industry-focused research. The lab also provides training on its instruments for faculty, researchers and students, with around 50 people already trained.
“The biochemistry section of the lab will be used for the in-house characterisation of the biodiversity under study at Masdar Institute,” explained Dr Hector Hernandez, Assistant Professor of Chemical and Environmental Engineering. Additional advanced lab facilities are scheduled to come online at Masdar Institute in the coming months, as Tiner explained: “We will also be investing significantly in a water- technology lab and an electrochemistry lab with capabilities to advance research in energy storage and water, two areas of importance to Abu Dhabi and the UAE.”
Dr Ahmad Abdullah Belhoul, Chief Executive Officer, Masdar
CEO’s MessageThis autumn will see Masdar continuing an around-the-world journey at the centre of a global dialogue on the future of sustainability and renewable energy.
Our journey began in July in Paris, where Dr Sultan Ahmed Al Jaber, Masdar’s Chairman and the United Arab Emirates’ Minister of State and Special Envoy for Energy and Climate Change, represented the UAE at a ministerial meeting on climate change.
In September, Dr Sultan travelled to New York for the United Nations General Assembly. The UAE delegation joined member states in discussing the much- anticipated Sustainable Development Goals (SDGs), including the critical target of “ensuring access to affordable, reliable, sustainable, and modern energy for all” by 2030. Masdar will serve as a key proof point for how public-private partnerships can advance these ambitious goals.
While in New York, Dr Sultan also officially launched the UAE-established Women in Sustainability, Environment and Renewable Energy (WiSER), which aims to empower women as drivers of the innovation that can help mitigate climate change. WiSER hosted a series of panel and keynote discussions with the overall theme of “Women Innovating for a Sustainable Tomorrow,” and also announced the high-level Advisory Council to guide its activities.
Just weeks after the SDG targets were debated, Abu Dhabi hosted 2,000 delegates at the EcoCity World Summit (ECWS) from October 11-13. This year’s summit – the first to be held in the Middle East - focused on new solutions to improve the design of cities under the banner theme “Taking the Vision Forward”. Masdar City, as the embodiment of sustainable design principles and a partner of the event, hosted the event’s welcome reception.
The year will culminate in one of the most important events with which Masdar has ever been associated. The Conference of the Parties to the United Nations Framework Convention on Climate Change, or COP21, will be held in Paris from 30 November to 11 December.
The stakes are high, with COP21 aiming to reach an unprecedented legally binding agreement, which will transition the world towards a more resilient, low-carbon and sustainable economy and society.
In Paris, the world will witness the UAE’s proactive leadership in sustainable development, clean technology and renewable energy.
Masdar comes to the table with a unique perspective as an integrator of business, academia and diplomacy in sustainability. From Masdar City’s emergence as a clean technology research and development cluster, to our most recently launched renewable energy projects, our company has become a locus of innovative market- driven sustainable solutions. Paris offers us the opportunity to share with the world ideas on how the global economy can continue to grow while managing the world’s finite resources.
In January 2016, Abu Dhabi Sustainability Week, hosted by Masdar will once again welcome over 30,000 delegates. This year’s conferences will be critical in providing the policy and business community an opportunity to digest the outcomes of COP21, and what it means for the future of our industry.
Much hard work lies ahead. As we continue our global journey and inch closer to our 10 year anniversary, we must reflect that our involvement in these key global dialogues is a testament to Masdar’s accomplishments, our company’s reputation, and what we can achieve in the years ahead.
SOLAR IMPULSE 2 GROUNDED
HH Sheikh Abdullah bin Zayed Al Nahyan,
UAE Minister of Foreign Affairs, inaugurated the
International Renewable Energy Agency (IRENA)
headquarters in Abu Dhabi’s Masdar City earlier this
summer, reinforcing the UAE’s status as a global
energy leader. Home to the first intergovernmental
agency in the Middle East, the headquarters is
the UAE’s most sustainable office building and a
physical embodiment of the organisation’s mission
to advance renewable energy.
Speaking at the inauguration, His Highness said:
“The inauguration of the IRENA headquarters
in Masdar City marks an important milestone
on the UAE’s successful journey to host this
important intergovernmental organisation,
which began with our bid submission seven years
ago. Hosting IRENA in Abu Dhabi is a reflection
of the UAE’s commitment to expanding access to
sustainable, clean energy both domestically and
internationally. We look forward to partnering
closely with IRENA and countries around the
world to support the further development of
renewable energy and clean technologies.”
The IRENA headquarters building is also the
first commercial building in the UAE to receive
a four-pearl Estidama rating for design and
construction from the Urban Planning Council.
HE Dr Sultan Al Jaber, UAE Minister of State,
Special Envoy for Energy and Climate Change,
and Chairman of Masdar, remarked: “The UAE
has firmly established itself as a committed global
leader in the deployment of innovative renewable
energy solutions worldwide. This commitment is
reflected in Masdar City, Abu Dhabi’s sustainable
ecosystem, which is the ideal location for IRENA
to carry out their mission to accelerate the
adoption of renewable energy globally. It is only
fitting that this important intergovernmental
organisation’s work is conducted from the most
sustainable office building in the UAE.”
Emirates Green Building Council (EGBC) has
named the recently completed International
Renewable Energy Agency (IRENA) headquarters
Green Commercial Building of the Year at its
annual MENA region awards dinner. EGBC
recognised IRENA building architect and lead
consultant Woods Bagot, along with design and
build contractor Brookfield Multiplex for their
work in delivering a project meeting the highest
sustainability standards for construction and
completion, in addition to outstanding innovation
in its design and processes.
Owned and developed by Masdar, and located at
the heart of Masdar City, the IRENA building is
the first in the UAE to receive the four-pearl rating
for design and construction from Estidama, the
Abu Dhabi-certification system that measures
and evaluates the energy, water and carbon
efficiency of buildings.
Anthony Mallows, Director, Masdar City, said:
“Achieving a four-pearl Estidama rating for the
IRENA building, within a competitive, market-
driven budget, demonstrates that innovative
design and construction, combined with a
thorough understanding of sustainable building
requirements, can produce outstanding results.”
Accepting the award on behalf of Woods Bagot,
Richard Fenne, Project Director, said: “This
award recognises how a truly integrated design
process – with all of the project stakeholders
engaged – has yielded an exemplary building, and
one which sets a new standard for commercial
Grade A office space in the UAE and across the
wider region.”
Marcus Truscott, Managing Director for
Brookfield Multiplex, added: “To be awarded the
highest Estidama construction rating to date
and to be one of the UAE’s most sustainable
and energy-efficient buildings is a reflection of
the commitment of all project stakeholders.”
The new IRENA building has a total floor area of
32,000 square metres with 1,000 square metres
of rooftop solar PV panels supplying electricity.
Thanks to its passive design and smart energy
management systems, the building uses up
to 40 per cent less energy than global energy-
efficiency standards, and 50 per cent less water
than other local commercial buildings.
FIRST ACCOLADEFOR IRENA HQ
IRENA HQ INAUGURATED
IN FOCUS VIEWPOINT
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CITY RISINGThe Neighbourhood 1 project will add 500 new sustainable homes to Abu Dhabi’s real estate sector. Anthony Mallows, Director, Masdar City, tells us moreMasdar City’s aim of creating a leading hub for innovation, where people live, work and play, entered a new phase earlier this year with the April 2015 announcement of a new one and two- bedroom residential complex.
According to Anthony Mallows, Director, Masdar City, the mixed-use project, to be called Neighbourhood 1, will be ready for residents in the first quarter of 2018.
“The complex is an important step forward toward completing the first integrated neighbourhood and the vision of Masdar City as a complete ecosystem focused on sustainability and innovation,” he says.
Its future residents will include Masdar Institute students, and Mallows also anticipated significant demand from corporate partners, as he explains: “The serviced apartments will appeal to those who wish to be part of Masdar City’s growing sustainable community; and, concurrently, ‘open market’ residential is also being developed by third-party investors.”
These include the Chic Residences, which are due to be handed over in December 2017, and which, says Mallows, will be targeted at Masdar and its associated business communities, as well as individuals looking for an integrated lifestyle experience.
“The Masdar City vision is attracting a host of new businesses and residents and the Chic Residences will expand the number of ways people can directly experience the Masdar City lifestyle,” he remarks.
As well as being built to LEED Gold and 3 Pearl Estidama sustainability criteria standards, the project will add a further layer of innovation through Masdar’s own online supply chain database, Future Build, to source materials and reduce the carbon emissions associated with construction.
Siemens will also provide home automation and monitoring technology that will adhere to
Masdar-specific performance indicators in terms of energy and water efficiency.
Says Mallow: “We continue to evolve these indicators, from project to project, balancing costs and benefits. And when the project is complete we check that it performs as it is supposed to.
“A positive side-effect of designing for water and energy efficiency is that the apartments make great use of space and can be delivered at a lower cost than competitors.”
According to Mallows, Masdar City’s priority in terms of residential developments is to deliver modern apartments designed for a young population that values the urban experience and proximity to amenities. “The serviced apartments will help meet Abu Dhabi’s rising need for new residences targeted at a range of socio-economic levels,” he says.
“We are the first integrated neighbourhood in the emirate, where the mantra ‘live-work-play-learn’ is possible. And we are sustainable in a no-nonsense way. Masdar City has demonstrated that to achieve world-class demonstrable sustainability there is no need for expensive gimmicks or a compromise in quality of life.”
This first intergovernmental organisation
headquartered in the Middle East reached a new
milestone this June. After nearly five years in Abu
Dhabi, the International Renewable Energy Agency
(IRENA) moved to its permanent headquarters
in Masdar City. The new IRENA headquarters
contributes to Masdar City’s growing ecosystem,
which focuses on sustainability and integrates
research, business and education.
As with the other buildings in Masdar City, the
IRENA headquarters pushes the boundaries
of sustainable design and green building
technologies. It is appropriate that the agency
mandated with the global adoption and
deployment of renewable energy, be housed in
one of the most sustainable buildings in the UAE
and one of the most sustainable buildings of any
international organisation worldwide.
The coming home of IRENA to its new headquarters
is just the latest milestone of the clean energy
movement. In the last decade we have seen a
dramatic shift in the global energy system. More
than 160 countries now have defined renewable
energy targets, up from just 15 countries in 2005.
The world is now adding more renewable power
capacity every year than coal, natural gas and oil
combined, and investment in the sector is on the
rise as technology costs reach record lows.
In a report we released this May, we pointed out
that more than 7.7 million people are employed by
the renewable energy sector worldwide, up 18 per
cent in just the last year and up 32 per cent over
the last two years. On average, renewable energy
technologies now create more jobs than fossil
fuel technologies. For instance, solar PV creates
more than twice the number of jobs per unit of
electricity generated than coal or natural gas.
Some have questioned IRENA’s location in the
heart of the richest oil-producing region in
the world. But what is more and more evident
is that decades of experience in the energy
industry coupled with massive investments in the
renewable energy sector make Abu Dhabi – and
Masdar City – the ideal location for IRENA. The
UAE’s renewable power-generation capacity is
the highest among the GCC countries, its solar
potential is second only to Saudi Arabia, and solar
and wind may now be the cheapest sources of new
power in the country. In a country with this much
resource potential and such a strong willingness
to invest, the future is bright for renewable energy.
We have now reached a new age of maturity
for renewable energy – where technology
costs plummet, investment and deployment
climb, employment grows and world leaders
recognise the necessity of replacing fossil fuels
with renewables. IRENA now has 143 Member
countries, with 30 more in accession, which stands
as a testament to the commitment of countries
around the world to advance the development of
clean, safe and affordable renewable energy.
We are delighted to call Masdar City home. Its
advantageous location positions the headquarters
as a nerve centre for renewable energy action and
knowledge for the future, which will be necessary
for the continued maturation of renewable energy.
RENEWABLE ENERGY INNOVATION AND GROWTH IN MASDAR CITYBy Adnan Z. Amin, IRENA Director-General
COMMUNITYINSIDE MASDAR
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Thousands of visitors step behind the scenes at Masdar every year for a look at the future of sustainabilityCustomer groups of all shapes and sizes, from
business leaders and tourist groups, to academics
and the local community, are welcomed to Masdar
City on a regular basis as part of its long-running
Outreach Programme.
Since it first claimed international headlines as a
visionary initiative to its current status as a global
hub for renewables innovation, Masdar City has
evolved into a visitor attraction in its own right,
attracting ever-increasing numbers of qualified
and curious guests.
Its Outreach Programme is managed by the
Corporate Relations team with a busy schedule
of personalised tour experiences that saw a total
of 440 delegations and daily visitors hosted in the
first six months of 2015.
This encompassed business interest groups
touring the corporate facilities or Masdar
Institute; government, embassies and diplomatic
delegations; academic institutes conducting
research or as an educational experience; members
of the local community; tourism partners bringing
organised groups; day-trippers from neighbouring
emirates; and international visitors.
In response to growing demand, a delegation
registration system was developed in 2014, which
enables all visitors to connect with Masdar,
Masdar City and the Masdar institute of Science
and Technology.
While drop-in visitors are welcome to explore the
public areas of Masdar City, pre-arranged tours
for groups, offer a more insightful experience.
Options include the chance to ride the driverless
Personal Rapid Transit (PRT) vehicle system
and tour the Masdar City and Masdar Institute
neighbourhood.
Tour add-ons can include a Masdar Corporate
overview presentation, tour of the Masdar Institute
Labs with a faculty or student professional, visit
to the Ecomagination Centre or Lockheed Martin
Innovation Centre, tour of the 10MW Solar Farm
or Beam Down facility, personal meetings with
faculty or Masdar officials or a face-to-face with
a Masdar Free Zone tenant are also extremely
popular options for visitors.
Tours last between 45 minutes and two hours and
visitors can also get a taster of the experience by
visiting the Plan Your Visit pages on the website -
http://masdar.ae/en/masdar-city/plan-your-visit
- which includes detailed information on what to
see and do, area maps, a food and beverage outlet
listing and details on how to book.
A major milestone in efforts to combat climate change is fast approaching, but are national governments truly ready to act? The outcome of the upcoming 21st Conference of
the Parties (COP21), which will take place in Paris
in December 2015, will be a litmus test for the
efficacy of this meeting of global leaders in taking
pledges to the next level.
A recent World Energy Outlook Special Report
on Energy and Climate Change, published by
the International Energy Agency (IEA), points
to encouraging signs with a historic joint
announcement by the US and China on climate
change, and various pledges for COP21 being
submitted by a number of countries and in
development in many others.
With the overall goal of keeping the rise in global
average temperatures below 2°C, energy will be
the main thrust for discussion with its production
and usage accounting for two-thirds of the world’s
greenhouse gas emissions.
The IEA report notes signs that growth in the
global economy and energy-related emissions
may be starting to decouple, with 2014 the
first year in four decades that CO2 emissions
stayed flat.
Renewables accounted for almost 50 per cent of
all new power generation capacity in 2014, led
by growth in China, the United States, Japan and
Germany, with healthy ongoing investment valued
at US$270 billion and continuing declining costs.
Nationally determined pledges are the foundation
of COP21. The US has pledged to cut net
greenhouse-gas emissions to 28 per cent by
2025, which would deliver a major reduction in
emissions despite economic growth, while the
EU’s pledge to cut GHG emissions by at least
40 per cent by 2030, would see energy-related
CO2 emissions decline at nearly twice the rate
achieved since 2000, making it one of the world’s
least carbon-intensive energy economies.
The report also flagged Russia’s energy-related
emissions, which are forecast to decline slightly
from 2013 to 2030, enabling it to comfortably
meet its 2030 target, while China has stated an
intention to achieve a peak in its CO2 emissions
around 2030, if not before.
LEADING AND LEARNING
REACHING OUT TO A GLOBAL AUDIENCE
FLOATING FOOD FARMS OF THE FUTURE
Daily opportunities to support the advancement of
science, sustainability and her fellow Emiratis are
what fuels Masdar Institute Interim Provost Dr
Behjat Al Yousuf’s passion for the industry.
A UAE national with a doctorate in software
engineering from Reading University in the UK,
Dr Behjat Al Yousuf has watched Masdar Institute
grow since its inception with great interest and
pride and the decision to pursue a career here
was born of a desire to be part of this “bold
undertaking.”
In her previous role as Dean of Students, she
helped create and implement the Office of Student
Affairs, and has also held senior executive posts
at Zayed University and Higher Colleges of
Technology, Dubai Women’s College.
The institute’s long list of achievements is a
source of pride and delight, as she explains: “I am
continuously amazed and impressed with what
has been achieved at Masdar Institute. After just
six years of academic operations, it was ranked
number one in the research citation impact
category for the Arab university 2015 US News
and World Report rankings.
“The research of our faculty, post-docs and
students have resulted in six US patents, 54 US
patent applications, and 96 invention disclosures.”
She goes on to talk about successful research
collaboration with local and international
companies such as Siemens, Mitsubishi, Total,
Boeing, Honeywell UOP, Toyota, Lockheed Martin,
BP, and Global Foundries.
“In fact, collaborations like these have helped
Masdar Institute reach over US$40 million in
industry and government-sponsored research
contracts with more than 40 organisations,
with an additional US$19 million of sponsored
research in the pipeline,” she notes.
In her role, it is the people interaction that she
enjoys most, as well as learning new things on
a daily basis. “Working at such a world-class
university, I particularly love the daily opportunity
to see excitement on the faces of our students
who are passionate about what they are doing and
are working to change our word to the better,”
she says.
“Many of our students have brought pride not
only to Masdar Institute, but to the entire UAE.
For example, PhD student Ahmed Al Harethi
recently became the first UAE national to invent
a mechanism for the generation of biofuels,
pharmaceuticals and fodder using genetic
modification of algae that grows in the Abu Dhabi
desert, for which he was honoured by the UAE
government with a Medal for Top Emiratis,” she adds.
“Becoming the Interim Provost gives me a great
opportunity to give back to my country and to the
world. As the position of provost serves to provide
strategic leadership of Masdar Institute to help
it achieve its mission and strategic goals, my
job gives me daily opportunities to support the
advancement of science, sustainability, and my
country’s people,” she says.
Part CEO, part intellectual leader of the faculty,
educational leader, occasional parent to the
students, champion for Masdar Institute, media
spokesperson, fundraiser, and liaison to the
governing board, Dr Behjat says that the role is
“dynamic, enriching and engaging.”
With a busy academic year ahead, she also has
an active calendar to manage, as she explains:
“In particular, we are enhancing our ongoing
foundational contribution to the UAE’s innovation
ecosystem, which was recently given priority
by the UAE leadership through the National
Innovation Strategy. We also have announced a
new Master’s concentration in advanced space
systems and technology, which will be active this
fall, to support the UAE’s space ambitions.
“These initiatives and others are all geared
towards developing the UAE’s human and
intellectual capital, to aid and advance its
knowledge-economy transformation by providing
the experts and intellectual property that are
critical for prosperous and competitive advanced
economies.”
COP21 ASKS FOR PLEDGES NOT PROMISES
What does the energy sector need from COP21?National pledges submitted for COP21 need to form the basis for a ‘virtuous circle’ of rising ambition, which can be supported by four pillars:
• Peak in emissions: Set the conditions that will achieve an early peak in global energy-related emissions
• Five-year revision: Regularly review contributions to test the scope to lift the level of ambition
• Lock in the vision: Translate the established climate goal into a collective long-term emissions goal, with shorter-term commitments
• Track the transition: Establish an effective process for tracking achievements in the energy sector
The IEA has proposed a bridging strategy that could deliver a peak in global energy-related emissions by 2020. In its report it says that the peak can be achieved relying solely on proven technologies and policies, without changing the economic and development prospects of any region.
This strategy is dependent upon five measures:
• Increasing energy efficiency in the industry, buildings and transport sectors
• Progressively reducing the use of the least-efficient coal-fired power plants and banning their construction
• Increasing investment in renewable energy technologies in the power sector from US$270 billion in 2014 to US$400 billion in 2030
• Gradual phasing out of fossil-fuel subsidies to end-users by 2030
• Reducing methane emissions in oil and gas production
AWQAF International Imams
H.E Edgars Rinkevics, Minister of Foreign Affairs of Latvia Jose Eduardo dos Santos President of Angola
International Community School - 24.6.2015
Rashid bin Saeed Al Maktoum Maritime College - 18.08.2015
A growing global population and increasing demand for food staples are forcing governments to look to new ways to feed their peopleThe UN estimates that by 2050, the global population will hit 9.1 billion, which in turn will drive increased demand for basic foodstuffs up to 70 per cent.
Food scarcity has been on the agenda for several years; this issue has not only affected emerging nations or those affected by adverse climate conditions, but also first world countries, as a solution is sought to this pressing economic challenge.
From vertical farms in city heartlands to genetically modified crops and other ideas, governments and futurists are giving the issue serious thought.
Barcelona-based architect Javier Ponce, CEO and Founder of Forward Thinking Architecture, believes he may have a sustainable answer in the form of Smart Floating Farms (SFFs).
“I’ve been always aware that I wanted to use my architectural and design skills not only to create great architectural spaces, but to really
improve human life. I became interested in exploring how to use design as a tool to bring food production closer to high density areas with growing populations, massive imports or scarce resources,” he explains.
His idea for the use of buoyant offshore platforms as an agricultural farming alternative has the advantage of zero land usage and the dual ability to farm fish as well as traditional crops.
Says Ponce: “After doing our research, we started putting together a replicable modular design inspired by the traditional grid-like Asian fish farm configuration, where a series of corridors allow people to circulate freely across the fish farming areas.”
Traditional floating garden farms in places like Myanmar also provided inspiration, as Ponce explains: “We took some of the existing concepts and re-interpreted and combined them with other production systems in order to create a compact and concentrated multi-layer farming module.
“It wasn’t just about making something bigger and introducing smart technology, it was about integrating different systems with the help of technology in a symbiotic manner, instead of having separated mono-products. The SFF
project will concentrate a higher output of different products – fish, vegetables and energy - consuming less space, avoiding the need for real estate and resulting in less environmental impact.”
The three-storey farms comprise of a top level containing the solar panels to power the platform, middle tier for crop growth and lower level for storage and fish farming. Ponce’s concept is also designed to be mobile and could be relocated to areas of need as and when required.
With dual food and energy production capabilities the project relies on an integrated multi-layer production system, that all work together in an efficient and self-sufficient manner with sub-products from one system or process used to feed another process. According to Ponce, the SFF model has the potential to reduce waste and water usage by up to 90 per cent.
“The renewable energy will provide the electricity to run all the premises and desalination machinery. The fish located at water level and the crops produced on the first level will have an integrated aquaponics system with the fish providing the water with nutrients, which is then circulated through the planting trays,” he says.
Depending on the size of each individual farm, the predicted output, based on a 50x100-metre module, could be as much as 2.4 million kilogrammes of vegetables and 129,285 kilogrammes of fish, effectively feeding thousands of people and reducing the need for costly imports.
The driver behind the project, according to Ponce, is to launch an initiative that can be both complementary and compatible with other existing food production methods in order to help reduce food risk-associated problems in different geographical locations.
“We are keen to start with a few prototypes located in regions/countries where the conditions are extreme, such as the Gulf or Singapore, for example,” he says.
“Sustainable production, arable land and water supply are key factors to consider in the Middle East and we believe that the project would be the perfect match for the region, especially considering that the most densely populated areas have water access and the entire region has plenty of sunlight, which can be used to produce electricity based on clean energy,” he explains.
The next step for Ponce and the team is to further develop the current feasibility study; and he confirms that there have been expressions of interest from various parts of the world in taking the project to the next level.
“We want to set investment targets and enter into the project prototyping phase in order to implement some smaller scale modules to get the initial positive results. This project could be a game changer, we just need the right support to make it a reality.”
8
INSIGHT FEATURES
9
Spreading the word to young people about the importance of renewable energy while having fun along the way is the iSolarWorkx raison d’être
The designer and manufacturer of educational
renewable energy do-it-yourself (DIY) kits for
schools and universities, UAE-based iSolarWorkx,
is innovating the edutainment industry.
Ali Abdel-Hafiz, the company’s CEO and Founder,
has a Masters in Bioinformatics from Imperial
College, London, but it was his long-held desire
to help younger generations combine science
education with renewable energy and engender
creativity and innovation. This drive led him to
launch the company in mid-2014.
iSolarWorkx’s first product is a solar car kit
(available with English and Arabic instructions),
with a renewable energy-powered smart car
and smart house the next two DIY kits under
development.
iSolarWorkx also has a dedicated learning portal
through which individuals and institutions that
have bought a kit can have access to a wealth of
renewable energy-related information. As Abdel-
Hafiz explains: “This includes our blog, open
forum and regularly updated news section. With
the portal we are hoping to build a community
of renewable energy enthusiasts who will share
their ideas.”
The company also provides a set of science
experiments, drawn from the British, American and
International Baccalaureate curricula that explain
various scientific and physics examples such as
the relationship between distance, time and speed
or how the car can be used to understand the
relationship between watts, volts and amps.
Its newly launched blog is open to informed
comment from anyone interested in the industry.
“The blog, as well as our social media content,
will be a channel for customers to express their
views, ask questions and discuss future projects
or ideas,” he says.
“The intention is to ensure the young generations
in the region have an opportunity to think and
learn about the potential and benefits of renewable
energy,” he adds.
A number of UAE schools including Repton in
Dubai, as well as the Abu Dhabi Technology
Development Committee and Sharjah-based
Bee’ah, have all ordered solar car kits, with Abdel-
Hafiz confirming interest from other educational
centres and museums in various emirates.
As well as offering a fun and instructional way for
kids to get on board with renewable energy aims,
iSolarWorkx aims to engage parents and teachers
with its pipeline of hands-on educational products.
Says Abdel-Hafiz: “We hope that we can encourage
the younger generation to enrol in science-related
topics in higher education, especially renewable
energy-focused subjects. The kits are also a
great way to give kids an opportunity to express
themselves, ask questions and find a reliable
resource through which to learn about renewable
energy and its benefits.
“They could also be the catalyst for kids to come
up with their own products and initiatives and
solve issues in their own communities.”
NATURAL LEGACYA former private nature reserve established by Sheikh Zayed, Sir Bani Yas Island is a conservation showcase that delivers an educational experience for all the family
Home to the endangered Arabian Oryx and a host
of other animals, flora and fauna, Sir Bani Yas
Island, in the Western Region of the emirate, is
a top tourist attraction with a remarkable history.
The 4,100-hectare conservation centre and wildlife
park was established by the late UAE President,
HH Sheikh Zayed bin Sultan Al Nahyan, in 1971.
His Highness recognised the need to preserve
regional species at risk from extinction, and over
40 years later the island boasts a remarkable
breeding and conservation programme.
Now part of Abu Dhabi’s Desert Islands tourism
portfolio, its 13,000 local residents include the
Arabian rock hyrax, houbara bustards, ostriches,
Beisa oryx, giraffes, striped hyena, northern
cheetah, golden jackal, caracal, antelope, deer,
lesser jerboa, Cheesman’s gerbil, mountain
sheep, snakes, geckos, skink, bats, migratory
birds, heron, sandpiper, curlew, dolphins, dugong,
sharks, Hawksbill turtle, and over 100 anthropod
and insect species.
The island is also known for its flora and fauna
habitat development programmes, which offer
a working ecosystem for the animals and birds.
There is also an eight-kilometre no fishing zone
around the island and boat access is carefully
monitored to conserve sensitive marine habitats.
The breeding programmes that were originally
put in place have successfully increased the
populations of many of the endangered animals
first brought to the island, with some, including
the Arabian Oryx, being nurtured back from the
verge of extinction. Today, there are over 400 freely
roaming the island, with a release programme
also reintroducing them to the mainland.
Cheetahs and striped hyenas have also been
successfully ‘re-wilded’, where they learn how to
hunt for themselves, and have had cubs of their
own. In addition, several non-indigenous animals
were relocated including blackbucks, emus,
gemsboks and elands.
The mangrove forests around Sir Bani Yas are
an important element of ongoing conservation
efforts, as one mangrove is planted for each
visitor to the island. This was introduced to help
maintain the ecology on the island; mangroves
are very important to the ecosystem because they
help counteract pollution by absorbing harmful
carbon dioxide, as well as providing fish breeding
grounds while naturally preventing erosion.
As part of your island experience; we plant a
mangrove for each visitor to our beautiful island,
and if you join us on our culture and history tour
you may be able to plant your own giving you
the opportunity to take part in our conservation
efforts; helping provide shelter and food for fish
and other sea creatures!
DIY HANDS-ON LEARNING
A fun activity for all the family, the Green
Footprint programme includes a guided
tour of the island’s flora and a visit to the
mangrove nursery where you can learn all
about their amazing trees and plant your
own sapling. This is followed by a picnic
lunch and tour of the Nocturnal House to
view species including the Arabian hare and
striped hyena.
Visitors are welcome to explore the park
with the resident conservation experts,
and Sir Bani Yas offers a number of guided
adventures including nature and wildlife
drives and walks as well as scuba diving,
horse riding and mountain biking. For more
information, go to www.sirbaniyasisland.com.
GREENFOOTPRINTINITIATIVE
/MasdarFreeZone/Masdar-Free-Zone@MasdarFreeZone
FEATURES
DID YOU KNOW?
11
SNAPSHOT
10
ECOCITY WORLD SUMMIT
EVENTS
This is a database of products and services with reduced environmental impact. It is used as a tool for agencies to purchase products and services that follow environmental standards and guidelines, and/or are supplied by vendors and service providers that follow policies and environmental programmes.
ENVIRONMENTALLY PREFERABLE PURCHASING (EPP)
To learn more about the guidelines and products and services which consider environmental practices, visit the United States Environmental Protection Agency’s website www.epa.gov/opptintr/epp/.
To learn more about the NEST project and concentrated solar power, visit www.masdar.ae.
A 20,000 square-metre bioenergy pilot facility is being built in Masdar City, Abu Dhabi by the Masdar Institute of Science and Technology’s Sustainable Bioenergy Research Consortium. The project will use desert land irrigated by seawater to produce biofuel and bio-chemicals. Saltwater aquaculture ponds will grow fish and shrimp, where the nutrient-rich waste will eventually be processed into aviation biofuel and other products.
JARGON BUSTER
11-13 OCTOBER, 2015 – ABU DHABI, UAE
BIOENERGY
NEW ENERGY STORAGE TECHNOLOGY (NEST)
Renewable energy derived from biological materials. It is the broader term for biomass, the biological material used as a biofuel made from organic matter such as aquatic plants, agricultural crops and animal waste.
The New Energy Storage Technology (NEST) initiative is an energy storage project developed by a Norwegian company and located at Masdar City in Abu Dhabi. The pilot project aims to drive down costs for the solar power industry by 70 per cent. NEST will test concentrated solar power systems using a concrete mixture to store energy as an alternative to expensive methods that require a constant source of electricity.
For over 35 years The Big 5 has been home to the largest gathering of construction professionals in the Middle East. Highlights include exhibitors showcasing more than 35,000 certified and innovative products from across the globe, over 45 free CPD-certified workshops, the all-new Big 5 Focus platform for innovation, inaugural Design Summit, and exciting live product demonstrations. This year’s event will welcome more than 2,800 international exhibitors from over 60 countries.
THE BIG 523-26 NOVEMBER 2015 - DUBAI, UAE
www.thebig5.ae
www.gitex.com
One of the most influential tech events on the planet and now in its 35th year, the anniversary edition will focus on the rapidly evolving Internet of Everything and Smart Technology markets and the ripple effect they are having across key industry verticals. Network with technology giants, assess exclusive product launches and get a snapshot into the future of technology with a host of onsite features including the Student Lab, Smart Sessions, UAV, Robotics and Hot Stuff showcase.
THE FUTURE OF GREEN FINANCINGWith talk of a green sukuk, the launch of the first Euro-zone Climate Change Fund and ANZ’s green property and renewables bond, investors are greening their portfoliosThe first green bond was issued in 2007 but it
wasn’t until 2013 that the global investment
community began to sit up and take note.
“That was when the IFC issued the first one billion
green bond, which sold out in an hour. Today, the
corporate desire to ‘do well while doing good’
is becoming increasingly pervasive,” says Sean
Kidney, CEO and co-founder of the Climate Bonds
Initiative, an international, investor-focused not-
for-profit launched in 2009.
Other milestones include the issuance of the
first corporate green bond in November 2013,
and in 2014 there was an explosion in issuance
totalling US$36 billion – more than triple the
2013 figure, with at least US$50 billion of green
bonds forecast this year.
“A green infrastructure investment boom that
helps avert climate change catastrophe is the
narrative we need to re-start our economies,”
says Kidney.
He is confident that the challenges to realising
the funding needs required to achieve a green
economy can be met through risk bridging and
government-driven green infrastructure deals
that suit the investment preferences of investors
and that are easy to find.
Market education is equally critical for market
development, as Kidney explains: “What we
tell investors, and what has been fundamental
to the success of green bonds, is that they are
competitive on financial returns.
“In other words, investors do not have to choose
between financial returns and climate change
impacts, thanks to full backing of the bonds from
corporate and development treasuries.”
Equally important to the role of the Climate
Bonds Initiative is advocacy around standards
and ensuring that monies raised really do
benefit green projects. Four bonds have already
been certified under the Standard with several
certifications in the pipeline.
“Our Climate Bonds Standard and Certification
Scheme, developed by international expert
committees, and launched in 2011, essentially
says which assets can and can’t be included in a
green bond. The Standard is a screening tool for
investors, allowing them to easily prioritise climate
and green bonds with confidence that the funds are
being used to deliver real solutions,” he says.
The standards are also helping to reinforce the
credibility of low carbon project investment.
Says Kidney: “The evaluation of environmental
claims of labelled green bonds was a key issue of
debate in 2014 and in the first half of 2015. In the
absence of clear and widely accepted guidelines
around what is green, many investors have raised
concerns about a risk of ‘greenwashing’, where
bond proceeds are allocated to assets that have
little or doubtful environmental value.
“Our Climate Bonds Standard scheme makes
it easier for investors to compare apples with
apples. Investors’ ability to link the money to
the underlying asset is key to maintaining their
confidence in the market. Without it, it could
deflate like a bad soufflé.”
Kidney was recently appointed as a green
bonds consultant to the Executive Office of the
UN Secretary General and, in December 2014,
an investor statement, brought together by the
Climate Bonds Initiative and supporting the
green bond market, was signed by asset owners
and fund managers with a combined $US2.62
trillion assets under management.
“We are also setting up Green Bonds
Development Committees around the world.
We work with China’s central bank on growing
a green bond market in China. Recently, we
submitted proposals the European Commission
on Europe’s role in mobilising private sector
capital for climate solutions,” he notes.
The next objective for Kidney and his team is
to work out a roadmap to UN Climate Change
Conference in Paris later this year. Another
challenge is raising the credibility of climate
change bonds as a safe investment.
Emerging markets are where Kidney sees the
biggest potential for further market growth.
“China Central Bank’s recent policy documents
include specific proposals for green bonds.
The Minister of Finance in India has expressed
support for growing a green bond market as part
of the country’s reforms of its corporate bond
market. They are on the agenda in Brazil, the
UAE and South Africa too,” he remarks.
China is the market that he believes has the
potential to capture the largest share of the
green bonds space in the next few years. “Its
first labelled green bond was issued recently,
and was five times oversubscribed. We expect
to see several more Chinese green bonds in the
next few months.”
A green energy sukuk for the Middle East has also
been mulled. Says Kidney: “There has been lots
of talk of investor interest in green sukuk but we
haven’t see the issuance as yet. However, there
have been some enormous announcements
from Saudi Arabia, Qatar, Jordan and the UAE
about renewable energy generation, and all of
these projects are eligible for green sukuk.
“This discussion started in Malaysia and the
issuance is only a matter of time. There is a bit of
competition between Kuala Lumpur and Dubai
to get out a green sukuk, but it looks like Dubai
might pip Malaysia to the post. We also have
interest in Indonesia – the Minister of Finance
has a project looking at Islamic finance across
the board and they are very interested in the
green sukuk theme.”
Kidney is optimistic for the future. “I think there
is a very good chance we could see a green
sukuk market of between US$10-20 billion by
2018, which would be almost 10 per cent of the
total expected US$300 billion green issuance.”
18-22 OCTOBER 2015 - DUBAI, UAEGITEX TECHNOLOGY WEEK
The Environment Agency-Abu Dhabi (EAD), in conjunction with Abu Dhabi Tourism & Culture Authority (TCA Abu Dhabi), will host the 2015 Ecocity World Summit (ECWS). The longest-running international conference series on sustainable cities, ECWS 2015 will be the first edition to take place in the Middle East. Held under the banner theme of Ecocities in Challenging Environments, the event aims to facilitate exchanges among local, regional and governmental decision-makers, researchers and civil society. The goals for this event are to develop action strategies relevant to the host region and global community, and to empower citizens to play an active role in shaping urban developments. Masdar will host the Ecocity Welcome Reception, which is open to all invited delegates.
FEATURES
12
BOOK REVIEW
If you’re interested in a career in the
environmental, sustainability or renewables
field, but not sure where to start or on
which sector to focus, this book is a
great introduction to a world of green
opportunities. Winner of a 2010 Green
Book Festival award, the book presents
a thorough overview of the global green
economy and looks at career opportunities
in environmental science, renewable energy,
smart grid, green building, transportation,
manufacturing, sustainability, and policy. It
also contains a useful section on job search
2.0 techniques covering new media, online,
networking, and electronic communications,
and examines the emerging green job market
and opportunities coming up in the next five
years and beyond.
GREEN CAREERS FOR DUMMIESBy Carol L McClelland
US$11.99 plus postage and packing Kindle version also available
Amazon.com
ENVIRONMENTAL TIPS FOR KIDS
COLOUR IT!
Answer is B – 17 trees
QUICK QUIZ
If you have comments or suggestions, we would like to hear from you.Email us at: [email protected]
Science doesn’t have to be boring with this DIY solar car kit, designed to educate and amuse kids and adults alike.
Instead of reading about Newton’s first Law, how about making your own DIY solar car to learn about the relationship between distance, time and speed? A hands-on kit that teaches kids dexterity as well as providing practical insight into solar energy, electricity, mechanical motion, as well as various aspects of physics and mathematics, it’s a one-of-a-kind teaching tool. The pack contains a solar panel that can tilt in various directions to teach pupils about sun direction, solar rays and absorbed solar energy and the effect they have on the speed of the car; a specially designed solar case capable of hosting various solar panels, one at a time, with different power (1W, 1.5W and 2W) to demonstrate the relationship between energy, power and speed; and a multi-gear function to teach pupils about solar power, DC motors and mechanical motion.
www.isolarworkx.com
BUILD AND LEARN
US$99
GREEN GIFTS
Remember that reuse is the best form of recycling! If you have new clothes coming your way, donate your old clothing to your favourite charities instead of throwing them away or cut them up to use as cleaning cloths!
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How many trees are saved by recycling one tonne of paper?
A. 10 B. 17 C. 3D. 13