Word: greenness
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...voting to reject Singapore's overture. This cleared the way for CNAC to sweeten the pot. But while the vote may have seemed like the free market at work, the Chinese government isn't about to let the invisible hand shape its air travel industry. By green-lighting CNAC's $1.9 billion hostile bid, Beijing actually steered the proceedings toward what it really wants: by consolidating China's fledgling and fragmented airline industry, regulators aim to form a Chinese "supercarrier" capable of competing on international routes against the world's largest airlines. An alliance between Air China and China Eastern...
...embarked on a serious program in alternative energy research, backed with oil money. In 2006 it launched the Masdar Initiative (the name means "source" in Arabic), a multi-pronged scheme that includes a collaborative research institute with the Massachusetts Institute of Technology, support for solar and other kinds of green power within the city itself and a clean energy investment fund worth $250 million. The idea behind Masdar - which organized the Future Energy Summit - is a radical one: prepare Abu Dhabi and the UAE to move beyond fossil fuels. "The UAE wants to be more than just an oil-producing...
...might come as a surprise to learn that Abu Dhabi is this week hosting the world's first Future Energy Summit, a three-day gathering of more than 4,000 entrepreneurs, analysts and officials from the alternative energy world, including heavyweights like green designer William McDonough and Icelandic President Olafur Grimsson. (Also present was Prince Charles, who gave a speech via hologram...
These are bold plans - especially for a city that had little green experience until recently - but for Abu Dhabi, investing in alternative power is a way to remain a world energy center in the event that concerns over climate change cut into the demand for fossil fuels. "We have a long tradition as a global energy leader and we have the financial resources to develop new fields of energy," said Sultan Ahmed Al Jaber, Masdar's CEO. "Leadership entails responsibility...
...feasible to replace it. "The World Future Energy Summit is nothing less than the future of the world itself," said Jonathan Porritt, founder of the UK sustainability organization Forum for the Future, one of the few speakers at the conference to call for a rapid reduction in fossil fuels. Green dreams are nice, but we need a green reality soon...