IMF managing director visits Masdar City

Christine Lagarde was briefed on Masdar’s role as a global renewable energy leader and as a pioneer for sustainable real estate through its development of Masdar City.

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IMF managing director Christine Lagarde is shown a model of Masdar City’s masterplan.
IMF managing director Christine Lagarde is shown a model of Masdar City’s masterplan.

Christine Lagarde, the managing director of the International Monetary Fund (IMF), visited Abu Dhabi Future Energy Company (Masdar) to witness the progress of Abu Dhabi’s flagship sustainable urban community, Masdar City, and learn how investment in youth is helping the UAE to deliver on the UN Sustainable Development Goals.

She also toured Khalifa University of Science and Technology’s Masdar City Campus.

Lagarde was briefed on Masdar’s role as a global renewable energy leader and as a pioneer for sustainable real estate through its development of Masdar City, which is now home to thousands of residents and hundreds of businesses.

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Masdar officials presented on the company’s diverse portfolio of renewable energy projects, as well as the city’s success in raising awareness of the commercial viability of low-carbon urban development.

Lagarde, who has led the IMF since 2011 and provides financial oversight for its 189 member countries, was briefed on this year’s Abu Dhabi Sustainability Week (ADSW) and how a number of its key initiatives including the Zayed Sustainability Prize, WiSER, Youth 4 Sustainability, and the Masdar Emerging Leaders Programme are empowering youth to become active sustainability leaders.

ADSW 2019 also hosted the inaugural Abu Dhabi Sustainable Finance Forum, at which 25 public and private sector organisations, including Masdar, committed to support the Abu Dhabi Sustainable Finance Declaration to jointly advocate sustainable finance and investment that fosters positive social, economic and environmental impacts.

Lagarde, on her visit to Masdar City, said: “It is inspiring to hear so many young people speak so passionately about their collective drive towards achieving the UN’s sustainable development goals. We rely on the next generation to continue to innovate and find solutions to address our global sustainability challenges.”

Mohamed Jameel Al Ramahi, CEO of Masdar, said: “We are delighted to receive Christine Lagarde at Masdar City, especially at a time when the nation is observing Innovation Month, so that she can see the investment the UAE is making in sustainable development, and the role we at Masdar and other stakeholders are playing in empowering youth through knowledge, innovation and entrepreneurship. 

“Youth engagement is a core element of our commitment at Masdar to help the UAE achieve its sustainability goals. This opportunity to share insights on these initiatives with Ms Lagarde, and benefit from her vast experience, will help us encourage even more young UAE nationals to become involved in the sustainability sector, whether in research, entrepreneurship, or raising awareness.”

The visit included presentations from three innovative start-up companies supported by The Catalyst, a joint venture between Masdar and multinational energy company BP.

Lagarde also met with young Emirati students and researchers of Khalifa University, who presented research projects on a range of topics including renewable-powered hydrogen production plants and sustainable water desalination technologies.

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