May 5, 2019

2nd Preparatory Conference On The Establishment Of A World Green Economy Organization Starts In Dubai

The 2nd Preparatory Conference on the Establishment of World Green Economy Organization (WGEO) and the WGEO Private Sector Platform was successfully organized today under the patronage of His Highness Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy (DSCE).

The event was attended by His Excellency Dr. Thani Ahmed Al Zeyoudi, Minister of Climate Change and Environment of the UAE; His Excellency Saeed Mohammed Al Tayer, Chairman of WGEO; His Excellency Abdulla Al Basti, Secretary General of the Executive Council of Dubai; His Excellency Dr. Mattar Hamed Al Neyadi, Undersecretary of the Ministry of Energy and Industry and HE Abdulrahman Ghanem Al Mutaiwee, Director of the Dubai Office of the Ministry of Foreign Affairs and International Cooperation.

The conference, which is organized by World Green Economy Organization in cooperation with the UAE’s Ministry of Foreign Affairs and International Cooperation, the Ministry of Climate Change and Environment and the World Green Economy Organization, witnessed wide participation from international official delegations, senior officials and executives from regional and international organizations and pioneering local and global private sector companies.

In his inaugural address, HE Saeed Mohammed Al Tayer, Chairman, WGEO, welcomed HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy (DSCE) and thanked him for his patronage for the 2nd preparatory conference on the Establishment of a World Green Economy Organization.

HE Al Tayer thanked all countries who expressed their interest in joining the World Green Economy Organization during the fifth session of the World Green Economy Summit, which successfully concluded with the completion of the founding phase of the global organization—attracting the participation of a large number of representatives and senior government officials from more than 60 countries. The strong response represents the key commitment that the world has placed in promoting the adoption of a green economy and the achievement of sustainable development.

HE Al Tayer added: “His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai launched the World Green Economy Organization in collaboration with the United Nations Development Program (UNDP) in October 2016 during the World Green Economy Summit in Dubai to enhance the transition to a green economy and disseminate green economy projects at a global level, as well as support countries and organizations seeking to achieve their strategies and green plans. The organization works in collaboration with several countries around the world to support the goals of the United Nations for Sustainable Development 2030, through seven platforms–The States Platform, the Cities Platform, the Private Sector Platform, the Financial Institutions Platform, the International Organizations Platform, the Academia & Civil Society Platform and Youth platform.”

HE Al Tayer noted also the importance of the conference in preparing for the signing of the ‘Agreement establishing the World Green Economy Organization,’ which is expected to take place in the next preparatory conference that will be held later this year. H.E. also called on for increased cooperation, effective participation and recommendations that will help enhance the organization in line with global trends in sustainability and the green economy.

HE Al Tayer said: “The organization is aiming to engage many stakeholders through the private sector platform, which is essential to the success of the green economy transformation and addressing priority issues. The private sector will be an integral part of our operational modalities as we strive to identify, long-term, high-impact bankable projects for states and other entities and institutional investors to support the shift towards sustainable green economy solutions. WGEO will engage through its Private Sector Platform multiple stakeholders as they are a key success factor to shift towards a green economy, and address the priorities. We are working hard in the selection and sourcing of funds for long-term, broad-based projects to enable countries, other entities and institutional investors to support the efforts to find sustainable solutions to drive the green economy.”

Al Tayer concluded: “While the institutional framework of WGEO is being prepared, we already have taken action to initiate operational activities. Also, WGEO is actively cooperating with various international organizations. So far we have signed Memorandums of Understanding with the United Nations Office for South-South Cooperation (UNOSSC) for the implementation of the joint initiative on Partnership Mobilization and Global Outreach Support; the Global Green Growth Institute (GGGI) for the Promotion and Implementation of Green Investments in country-level Green Smart city Projects and also with the United Nations Framework Convention on Climate Change (UNFCCC), which seeks to establish a Climate Change Regional Centre in Dubai. I would like to thank all the countries that have expressed interest in joining the World Green Economy Organization during the fifth session of the World Summit on the Green Economy. I look forward to taking part in future proactive discussions that will pave the way for us to achieve tangible and positive change for the benefit of future generations.”

His Excellency Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment, said: “The escalating impacts of climate change the world is witnessing today and our commitment to building a more sustainable future for the upcoming generations mandate that we all join forces and expedite the transition to a green economy. Doing so will boost economic growth while safeguarding our environment and natural resources that are crucial to our very survival.”

HE Al Zeyoudi, added: “”I am pleased to be present at the second preparatory conference on the establishment of the World Green Economy Organization, which represents a global organization that is promoting the adoption, financing and implementation of green projects around the world. This is an important environmental and economic milestone of international importance. It is also proof that the UAE has become a global platform for the transition to a green economy and presents a pioneering model of this transition to ensure a better future for current and upcoming generations.”

His Excellency Dr Al Zeyoudi pointed out that since its inception in 1971, the UAE has adopted the principles championed by its founding father, late Sheikh Zayed bin Sultan Al Nahyan, to strike a balance between economic growth and preserving its environment and natural resources. This is the cornerstone of the green economy. For decades, the country has managed to maintain this balance through a host of legislations, initiatives, and projects.

HE Abdulrahman Ghanem Al Mutaiwee, Director of the Dubai Office, Ministry of Foreign Affairs and International Cooperation, said, “We are here today with the hope of achieving our common vision under the umbrella of the World Green Economy Organization, through which we seek to promote sustainable development and the green economy. The UAE has made great strides to accelerate the transition to a green economy, guided by the vision of our country’s leaders and took off during the launch of the ‘UAE Green Growth Strategy’ initiative in January 2012 which was themed ‘A Green Economy for Sustainable Development’. It was created with the ambition for the UAE to become a global leader and a successful model of sustainability, which promotes a green economy and maintains a sustainable environment that supports long-term economic growth.”

Mohammad A. Abunayyan, Chairman of ACWA Power and Chairman of WGEO Private Sector Platform said: “One of the challenges of our time is to demonstrate the effectiveness of investments in the green economy as the ideal system for achieving sustainable economy and the perfect tool for achieving this vision and economic and social sustainability plans. The overall costs associated with this transformation show the urgent need to develop and create new financing mechanisms that are capable of meeting the needs and requirements of this system, which is what the World Organization for Green Economy is doing by presenting viable projects to the private sector among a range of projects and programs that have already been assessed and have received a full government support.”

Abunayyan added: “At ACWA Power, we strongly believe that public-private partnership is the ideal business model in which we seek to achieve our vision and mission and to continue our path towards supporting the communities socially and economically. We take this opportunity to express our gratitude and thanks to the World Green Economy Organization as the first international organization to embody the concept of effective partnership between governments, the private sector, civil society, financial institutions, academia and youth. This partnership will give the private sector and investors promising opportunities to secure the financing of green economy and achieve sustainable development while enabling the private sector to play a role in the decision-making process and provide the necessary financing mechanisms for this promising field.”

Ali Rashid Al Jarwan, CEO of Dragon Oil, said, “For the next 20 years, oil contribution to the energy mix will remain significant with insignificant growth. While the energy demand growth will be supplied more likely by growing renewables source of energy, supplemented by hydrocarbon gas.”

The conference seeks to address the need to strengthen public-private cooperation, as well as enhance the role of the World Green Economy Organization in encouraging investors and financiers to invest in bankable green projects.

The conference witnessed wide participation from senior government officials, representatives of international organizations and major local and international private sector companies. In line with this, discussions are also set to take place to finalize the organization’s founding agreement, define the core strategic functions of WGEO, roadmap the organization’s actionable framework and identify its innovative features as a multi-stakeholder institution that ensure the participation of all stakeholders in the decision-making process.

The World Green Economy Organization aims to promote a widespread acceptance and increased importance of the green economy through the integration of financing, technology, capacity-building and all other elements of the enabling environment of a green economy. It also serves to provide a platform for international cooperation and knowledge exchange between developed and developing countries, public, private and international organizations and all other key stakeholders, promoting the implementation of green economy policies at national, regional and global levels.