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UAE to highlight green investment in vital sectors at WGES
World Green Economy Summit in September will promote investment and employment opportunities within the green economy.
Given the region’s collective sustainable push, this year’s World Green Economy Summit (WGES), slated to be held in Dubai, will retain a focused approach to developing investment partnerships in green projects and financing. WGES paves the way for the Conference of the Parties organized by the United Nations Framework Convention on Climate Change (COP28), which will be hosted in the UAE next year.
The eighth WGES to be held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, and organized by Dubai Electricity and Water Authority (DEWA) on September 28 and 29, 2022, at Dubai’s World Trade Centre, will promote investment and employment opportunities within the green economy.
It will engage local and global high-profile players, including heads of states and governments, global voices, and officials across the public and private sector, academia, research, and media.
The UAE is a regional leader and the first country to develop the Green Key Performance Indicators, which focus on three dimensions–environmental, economic, and social–of sustainable development. The report’s KPIs include green jobs, emiratization, innovation, human development, ecological footprint, and green vehicles.
Previously, the UAE committed $400 million to enable the transition to clean energy for developing nations, which will positively impact 100 million African citizens by 2035. It has promised to raise $4 billion to invest in technologies transforming agriculture and food production to limit climate change.
WGES will be a clarion call, marking the importance of global changes in consumption, production, and investment patterns to achieve the Paris Agreement for climate change.
“The green economy is central to UAE’s agenda, with the country taking major steps towards building capacity in this area. As part of this effort, the circular economy represents a key economic driver. It has achieved tangible growth, supported by the newly established UAE Circular Economy Council and its policy committee. The committee has developed a roadmap comprising 22 new solutions and initiatives in support of the circular economy,” said Abdullah bin Touq Al Marri, Minister of Economy, in a statement.
The policies will contribute to addressing the challenges in four key sectors: manufacturing, green infrastructure, transportation, and food production and consumption, while also driving the overall green transition,” he added.
“The UAE has worked to integrate the United Nations Sustainable Development Goals (SDGs) 2030 into its vision for the future and to achieve its ambitions for the next 50 years. Pioneering transformational projects such as building solar power plants, using eco-friendly EV cars, as well as building sustainable, low-carbon urban communities support the wise leadership strategy to achieve a sustainable future for vital sectors in the UAE,” Saeed Mohammed Al Tayer, vice chairman of the Dubai Supreme Council of Energy, MD and CEO of DEWA and WGES Chairman, said in a statement.
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