Malaysian company to explore potential of carbon-neutral city
Masdar, a development company focused on renewable energy and sustainability, and 1Malaysia Development Berhad (1MDB) have signed a cooperation agreement to explore clean technology projects and investments, including the possibility of building Malaysia s first carbon-neutral city.
Masdar and 1MDB also intend to cooperate and invest in carbon reduction projects, under the Kyoto Protocol’s Clean Development Mechanism (CDM) and clean technology venture capital. If fully implemented, the cooperation agreement would lead to the development of new catalytic projects, with an estimated value of US$100m.
The agreement with Masdar, which was signed during Malaysian Prime Minister, YAB Dato Sri Mohd Najib Tun Haji Abdul Razak’s visit to Abu Dhabi, will further boost Malaysia’s ongoing efforts to embrace world-class sustainable practices and clean technology; it was among several strategic joint agreements signed between Malaysia and the UAE.
Established in 2006 by the government of Abu Dhabi in the UAE, Masdar is a wide-ranging, multifaceted renewable energy initiative that integrates the full renewable and clean technology life cycle from research to commercial deployment with the aim of creating commercially scalable renewable and clean energy solutions.
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