This oil capital wants to be a hub for climate tech

Abu Dhabi is investing in startups focused on finding solutions for the climate crisis. The Abu Dhabi tech ecosystem, Hub71, has launched a program to support decarbonization technologies and is backed by state fund Mubadala Investment Company. The United Arab Emirates has committed to net-zero carbon emissions by 2050 and has already invested billions of dollars in renewable energy projects and carbon reduction technologies. Despite its reliance on oil, Abu Dhabi is planning ahead to reshape its economy and has become a leading tech cluster for climate in the region. Hub71’s program has seen a doubling in applications from sustainability and climate tech startups. The city aims to become one of the world’s largest producers of hydrogen by 2031.