Question

To describe the origins and contributions of ADNOC and ADIA to the UAE economy.

Answer 1

Explanation:

ADNOC is also proactively preserving fragile ecosystems in its areas of operation and protecting biodiversity, marine development, and ecosystems within the communities it operates. To date, ADNOC has planted over 250,000 mangrove seedlings in the emirate of Abu Dhabi to preserve the biodiversity of the UAE coastline.

1. The Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi (in the United Arab Emirates) founded for the purpose of investing funds on behalf of the Government of the Emirate of Abu Dhabi. It manages the Emirate's excess oil reserves, estimated to be as much as $875 billion. Its portfolio grows at an annual rate of about 10% compounded.
2. The fund is a member of the International Forum of Sovereign Wealth Funds and is therefore signed up to the Santiago Principles on best practice in managing sovereign wealth funds.