Artificial Intelligence, Energy and Innovation (February 2021)

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ABUDHABI'SADQ ASSETSESTIMATEDAT $110BILLIONAbu Dhabi’sstate holdingcompanyADQ is worth$110 billion,sovereignwealth fundtracker GlobalSWF said – thefirst publiclyavailableestimate ofADQ’s assetsundermanagement.Established in2018, ADQhas gainedprominenceover the pastyear as AbuDhabiconsolidatedseveralgovernment assetsunder its banner.ADQ, owns AbuDhabi Ports, Abu DhabiAirport and bourse operatorADX.It has also built up a portfolio offood and agriculture businessesand last year agreed to acquire anindirect 45% equity stake incommodities trader LouisDreyfus Co.Global SWF said on Monday thatADQ, the third-largest sovereignfund in Abu Dhabi, has $110billion in assets undermanagement, most of themdomestic.Oil-rich Abu Dhabi managesmore than $1 trillion in sovereignwealth capital and is the world’slargest employer of sovereignwealth fund executives, the reportsaid.Abu Dhabi’s largest fund is theAbu Dhabi Investment Authority(ADIA), with $700 billion inassets under management, basedon Global SWF estimates. Stateinvestor Mubadala manages morethan $230 billion in assets.After the 2014-15 oil price crash,Abu Dhabi has embarked on aconsolidation strategy, whichamong other things resulted inMubadala absorbing theInternational PetroleumInvestment Company and AbuDhabi Investment Council.@UAEinLagos 8
every year, while the DubaiMunicipality saved 20.9 millionsheets; the Dubai Sports Council,408,623; and the Dubai StatisticsCentre 172,129 sheets.“The Dubai Paperless Strategyhas come a long way and isadvancing rapidly towards itsprimary goal of digitising allinternal government operationsand services offered to the public.The strategy is an importantmilestone in the DubaiGovernment’s digitaltransformation, and a key factorin the effort to make Dubai thesmartest and happiest city onEarth,” Al Nasser added.“On paper, the strategies andfocus of ADIA, Mubadala andADQ could not be more different.ADIA is forbidden from investingdomestically; ADQ is meant toinvest only domestically, andMubadala is somewhere in themiddle,” Global SWF said.The Dubai Government is ontrack to become the first in theworld to go completely paperless.No Dubai Government entity willissue any internal or externalpaper documents after December12, 2021, running completelypaperless transactions.This came as Smart Dubaiannounced the latest updates onthe progress of the DubaiPaperless Strategy.The total decrease in paperconsumption for all entitiesimplementing the strategy was82.82 per cent, saving 269.8million sheets of paper. Overall,the strategy has helped saveDh1.13 billion, over 12.1 million hoursof labour, and 32,388 treesthat would have been cut down toproduce paper.Collectively, 'Large Entities' cuttheir paper consumption by 83.86per cent by December 2020,helping save 232.07 millionsheets of paper. 'Medium Entities'reduced their consumption by76.23 per cent, saving 10.64million sheets; whereas 'SmallEntities' achieved a 77.3 per centreduction rate, helping save 27.17million sheets of paper.A '100% Digital Stamp' hasalready been awarded to theDubai Electricity and WaterAuthority (Dewa), DubaiMunicipality, Dubai SportsCouncil, and the Dubai StatisticsCentre.The Dewa saved 22.63 millionsheets of paper it normally usesWesam Lootah, CEO of theSmart Dubai GovernmentEstablishment, said: “Weappreciate the efforts made by allparticipating entities to advanceDubai’s digital transformationand offer government services via100 per cent digital channels.This, in turn, helps savesignificant amounts of paper aswell as hours of labour, cuttingcosts for the Dubai Governmentand promoting happiness amongthe people."@UAEinLagos 9
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Artificial Intelligence, Energy and Innovation (February 2021)

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