University of Vaasa - Vaasan yliopisto

Impact on Climate
Change
Conclusion
initiating similar projects (Dubendorf, Swiss
Hub).
6. Signaling a positive sign that oil rich
countries can be sustainable.
7. ADFEC has direct investment in 12 clean
tech companies and invested in four leading
green funds focusing on cutting-edge clean
technology.
8. MASDAR City is a partner with One Planet
Living
Contributing to reduction of global CO2 emissions
by investing in projects around the world related to
Energy Efficiency, Renewable Energy, and Carbon
Capturing and Sequestration.
622
This paper discussed the sustainability and the corporate social responsibility of
MASDAR in Abu Dhabi and UAE. The success of MASDAR will encourage others
to start investing in renewable energy which will eventually contribute to the social
welfare of the society at large. But in order to ensure sustainable development and
social prosperity of the country, all stakeholders (government institutions, private
sectors, NGOs, public, universities, etc.) must be engaged in direct coordination and
collaboration in order to develop the right energy policies, incentives to invest in RE
projects, ensure the funding is available for research and development to develop RE
technologies, put in place the needed market mechanisms for diffusing RE
technologies, build public awareness, etc. MASDAR has the ability to leverage its
own actions into the GCC, MENA and Southeast Asian regions. By providing the
leadership and demonstrating that concrete results are possible. MASDAR's
"spillover effect" can be quite substantial. MASDAR is driving the transition from
an oil-based economy to more knowledge-based technology and service industries.
The environment will also be a key beneficiary of MASDAR and the different RE
and water resources technologies developed and applied by MASDAR can greatly
enhance sustainable human development in the arid countries of the MENA region.
Finally, MASDAR is striving to be a benchmark for others in sustainability and CSR
practices in the region but many challenges still remain and must be dealt with.
Some of the challenges include cultural differences, low consumer interest, and other
challenges that are common in developing countries.
Acknowledgement
The support of MASDAR Institute of Science and Technology (MIST) in Abu Dhabi,
UAE, is gratefully acknowledged.