Actually, they are betting big: Money from the stateowned sovereign wealth fund (estimated to be worth $328 billion) is poured into clean technologies, green research projects and renewable energy companies all over the world. Last year, the crown prince of Abu Dhabi, Sheikh Mohammed bin Zayed Al Nahyan, wrote a $15 billion check to launch the Masdar Initiative. Named after the Arabic word for 'the source,' Masdar is aimed at turning Abu Dhabi into a green global player.
‘We want to be the Shell, the BP of renewable energy,’ Sultan Al Jaber, the chief executive officer of Masdar, who is said to have close ties to the Abu Dhabi royals, told the London Times. ‘We will be a world-leading, recognised brand by 2020. It’s ambitious, but everything in Masdar is ambitious.’