Abu Dhabi is setting course for a cleaner energy future as it diversifies the economy in preparation for the time when it will not be able to rely so heavily on oil revenues, according to authoritative The Report: Abu Dhabi 2007, published by the UK-based publishing, research and consultancy services organization Oxford Business Group (OBG).
The emirate, says The Report, has been able to orchestrate an industry-wide cooperation with its 60% stake in energy ventures through the Abu Dhabi National Oil Company (ADNOC), as it heads into the global green energy boom As a result, Abu Dhabi, seeking to lay a firm foundation for energy beyond oil, is putting some comprehensive programmes into place.
This has been triggered by three main trends, a growing environmental consciousness, a desire to preserve Abu Dhabi's comparative advantage in the energy sector in the years ahead, and soaring domestic demand for energy.
Going green will be not only an ecologically sound step for Abu Dhabi, but also one that is likely to generate significant new economic opportunities.
The importance of environmental protection is emphasized by Yousef Omair bin Yousef, CEO, Abu Dhabi National Oil Company (ADNOC) who told The Report in an exclusive interview: ADNOC is committed to ensuring that its group of companies conducts their business with full concern for the environment. The environment is a crucial resource and its protection has become one of the main priorities of many nations, especially during economic development.
This has led to the need to integrate three dimensions into one mechanism: social improvement, economic growth and environmental protection.
This is referred to as sustainable development. It requires the combination of these dimensions and encourages economic growth to support clean technologies and social improvement.? He said ADNOC and its group of companies would ensure and protect the balance of environmental conditions and contribute to sustainable development by implementing tight health, safety and environment management systems.
"From our point of view, our responsibilities dictate to us to be diligent and very much on our toes," he said.
"We must take the best decisions possible to maintain our environmental and social goals as well as our company's future well being and economic competitiveness." The Report, Abu Dhabi 2007, available in print form or online, is one of OBG's publications, which are renowned as leading sources of information on emerging and developing economies around the world. (WAM)
The emirate, says The Report, has been able to orchestrate an industry-wide cooperation with its 60% stake in energy ventures through the Abu Dhabi National Oil Company (ADNOC), as it heads into the global green energy boom As a result, Abu Dhabi, seeking to lay a firm foundation for energy beyond oil, is putting some comprehensive programmes into place.
This has been triggered by three main trends, a growing environmental consciousness, a desire to preserve Abu Dhabi's comparative advantage in the energy sector in the years ahead, and soaring domestic demand for energy.
Going green will be not only an ecologically sound step for Abu Dhabi, but also one that is likely to generate significant new economic opportunities.
The importance of environmental protection is emphasized by Yousef Omair bin Yousef, CEO, Abu Dhabi National Oil Company (ADNOC) who told The Report in an exclusive interview: ADNOC is committed to ensuring that its group of companies conducts their business with full concern for the environment. The environment is a crucial resource and its protection has become one of the main priorities of many nations, especially during economic development.
This has led to the need to integrate three dimensions into one mechanism: social improvement, economic growth and environmental protection.
This is referred to as sustainable development. It requires the combination of these dimensions and encourages economic growth to support clean technologies and social improvement.? He said ADNOC and its group of companies would ensure and protect the balance of environmental conditions and contribute to sustainable development by implementing tight health, safety and environment management systems.
"From our point of view, our responsibilities dictate to us to be diligent and very much on our toes," he said.
"We must take the best decisions possible to maintain our environmental and social goals as well as our company's future well being and economic competitiveness." The Report, Abu Dhabi 2007, available in print form or online, is one of OBG's publications, which are renowned as leading sources of information on emerging and developing economies around the world. (WAM)
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