Word: solarization
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Those plans include a thin-film solar factory, along with investments in wind and solar and in carbon-trading projects throughout the world. Most significantly, Masdar is pioneering a model carbon capture and sequestration (CCS) project with the energy and mining giants BP and Rio Tinto that will take CO2 emissions from industry in the emirate and store the CO2 in abandoned oil wells. Since even the most optimistic energy projections assume we'll be burning fossil fuels for decades, perfecting CCS is vital to controlling emissions--and who would be better suited to cleaning up fossil fuels than...
Sami Khoreibi can't stop smiling. The baby-faced CEO of Enviromena Power Systems, Khoreibi launched his business a little over a year ago. Now he is looking over a 10-MW solar farm in the desert outside the city of Abu Dhabi, with row after row of solar panels angled to the Middle Eastern sun like bathers lying poolside. The solar farm is the earliest tangible part of Abu Dhabi's Masdar City, a $22 billion project designed to be the world's first zero-carbon-footprint, zero-waste settlement--the embodiment of this oil-rich Arab city...
...Dhabi's leadership is all the more necessary at a moment when once vibrant green businesses are flagging, thanks in part to the plummeting price of oil. In the U.S. and Europe, new wind- and solar-power installations are slowing, energy start-ups are starving for funds and some green companies are laying off workers. But it's still full speed ahead in Abu Dhabi, where last month's World Future Energy Summit (WFES) attracted more than 16,000 visitors and companies that ranged from General Motors to modest Chinese solar manufacturers. And with a new Administration in Washington struggling...
...hardly bears pointing out that during these days of 7.6% unemployment, when the business pages of the local newspaper look more like the obituaries, no industry is doing well - and that includes green business. Wind and solar manufacturers, starved for credit, are cutting back on projects and laying off workers. Whole Foods, the organic food superstore, has seen its stock price drop more than 70% over the past year, and has cut back on planned expansions. Companies - including Time Inc., which publishes TIME and Time.com - have eliminated their sustainability officers, and the business press seems more concerned with plotting financial...
...restrained sustainability practices and as Makower writes in his just released State of Green Business report, whatever progress is currently being made may not be "addressing planetary problems at sufficient scale and speed." Regardless, he says, the green momentum is still growing, not so much because businesses such as solar power or recycling have become financial titans (they haven't), but because green values - efficiency, reducing waste, managing carbon - have increasingly become standard practice for any smart business. "It's really becoming business as usual," says Makower. "These are practices that don't go away during a recession." (Listen...