The 8th World Green Economy Summit opens in Dubai

The 8th edition of the World Green Economy Summit began on September 28. The global summit was inaugurated by Sheikh Ahmed bin Saeed Al Maktoum, chairman of the Dubai Supreme Council of Energy.

The two-day event, organised by Dubai Electricity and Water Authority (DEWA), the World Green Economy Organization (WGEO) and the Dubai Supreme Council of Energy, is being held at the Dubai World Trade Centre. Ministers, officials, and experts from around the world are taking part in the summit.

Saeed Mohammed Al Tayer, vice chairman of the Dubai Supreme Council of Energy, MD and CEO of DEWA and chairman of WGEO, delivered the keynote speech at the summit. He said: “Held under the theme of ‘Climate Action Leadership through Collaboration: The Roadmap to Net-Zero,’ the World Green Economy Summit this year will explore opportunities for collaboration and exchange of knowledge and expertise among stakeholders, international and regional organisations, as well as public and private sectors, with the goal of promoting the transition towards a green economy. The theme reflects the need for international cooperation to combat climate challenges which affect the entire world.”

Al Tayer added: “Although climate change is the defining crisis of our time, we are not powerless in the face of this global threat. The UAE has been leading global efforts in tackling climate change and has always pioneered efforts to address global challenges and promote quality investments in the green economy. Selecting the UAE to host the 28th Conference of the Parties (COP 28) to the UN Framework Convention on Climate Change (UNFCCC) underlines the world’s recognition of the UAE’s efforts and its effective role in combating climate change.

“Last year, the UAE announced the UAE Net Zero by 2050 Strategic Initiative, with investments of more than Dhs600bn in clean and renewable energy until 2050. This makes it the first country in the Middle East and North Africa to launch such an initiative. The announcement comes as the pinnacle of the UAE’s efforts and journey in climate action over the past three decades since it acceded to the UNFCCC in 1995.”

Al Tayer explained that Dubai has succeeded in reducing carbon emissions by 21 per cent in 2021; exceeding the target set in the Dubai Carbon Abatement Strategy 2021, which aimed to reduce carbon emissions by 16 per cent by 2021.

Read: Dubai reduces carbon emissions by 21% in 2021

Al Tayer noted that the UAE hosts specialised international institutions in the green economy, such as the International Renewable Energy Agency (IRENA) in Abu Dhabi and the World Green Economy Organization in Dubai, among other leading organisations. The UAE consistently supports global efforts to address climate change by announcing effective solutions that enable low-carbon sectors, as well as leading projects that support the country’s future strategies and aspirations, such as Masdar City in Abu Dhabi and the Mohammed bin Rashid Al Maktoum Solar Park in Dubai.

Last March, the UAE government, represented by the Ministry of Climate Change and Environment, the World Green Economy Organization, and Dubai Electricity and Water Authority, hosted the first-ever MENA Climate Week. The event achieved remarkable success and attracted over 15,000 participants from 40 countries worldwide and 500 global speakers and experts. The event was organised in collaboration with the UNFCCC and other international partners.

Al Tayer said: “The 8th World Green Economy Summit focuses on four key pillars of the green economy: Energy, Finance, Food Security, and Youth. In the Energy pillar, we will look into solutions to enhance energy efficiency and decarbonise the energy systems. The Finance pillar will focus on attracting and encouraging green investments. In the Food Security pillar, the summit will examine approaches and methodologies to build resilience and sustainability into value chains to meet the growing challenges in this area. The fourth pillar will highlight the need to support and empower the youth who are the driving force of sustainable development and positive change in order to prepare the next generation of climate action leaders.”

He emphasised that given the vital role young people play in the effective implementation of climate action, the World Green Economy Summit is hosting the Regional Youth Conference, which brings together MENA youth to discuss their priorities. This precedes the World Youth Conference that will be held in conjunction with COP 27 in November in Egypt, as well as the UAE’s preparations to host COP 28 next year in Expo City Dubai.

“Over the years, the World Green Economy Organization has mobilised global efforts to promote joint action to combat climate change. In cooperation with the UNFCCC, WGEO established the Regional Cooperation Centre for the Middle East and North Africa in Dubai, which provides technical support to stakeholders to increase investments in technologies, solutions and partnerships to reach a carbon-neutral economy. The Summit will keep building on what it has accomplished in the previous sessions, particularly the advancements made since the Seventh Dubai Declaration, which concluded the last edition, and the aspirations outlined in the declaration’s framework. The summit will also underline the UAE’s commitment to speeding the shift towards a green economy, as well as the improvements it has made in implementing eco-friendly solutions across all areas,” continued Al Tayer.

Al Tayer also launched the ‘Global Alliance on Green Economy’, which aims to build a coalition of countries, prioritising a green economy in the context of climate action and sustainable development, to enhance the capacity of developing countries, provide support for their green economy transition projects and exchange knowledge on implementation.

Opening day highlights
The first day of the summit featured 10 panel sessions, including one titled ‘Implementing the Paris Agreement: Building a MENA climate action legacy’. The panel comprising international experts discussed topics related to climate action in the Middle East and North Africa (MENA) region and the significance of hosting COP 27 in Egypt later this year and COP 28 in the UAE next year.

Additionally, winners of the 4th cycle of the Emirates Energy Award (EEA) were honoured on the first day. EEA is organised by the Dubai Supreme Council of Energy, under the theme ‘Inspiring Innovation for Sustainable Energy’. A total of 28 winners in 10 categories were recognised for their achievements and innovations in providing the best energy efficiency and alternative energy solutions.

A ministerial roundtable showcasing the green economy was also organised. It was attended by 25 ministers and officials from around the world.