UAE Committed To A Sustainable Future

The Green Business Summit 2018 opened in Abu Dhabi today with a keynote address by Charles Goddard, The Economist Intelligence Unit’s Asia-Pacific editorial director, who welcomed attendees and highlighted the significant opportunities and challenges faced by business leaders, policymakers, and investors as nations around the world strive to adopt sustainable development practices. Organised by The Economist Events, part of the global English-language weekly newspaper, the first-of-its-kind Summit took place at the Rosewood Hotel, Abu Dhabi, UAE.

Charles Goddard said: “Sustainability and green business are the defining issues, the defining themes of our time. It has been roughly two years since the Paris Agreement when the world agreed to cap global emissions to limit climate change and global warming, and it has been two and a half years since the Sustainable Development Goals were ratified by the United Nations. These are rightly seen as seminal moments, a sea-change in our thinking on societies and development. Today we will be asking, how much progress has been made?”

Speaking on the subject of green business, Goddard added: “On the important transition of business, there has been some gathering progress in terms of sustainability. Corporate commitments have been made and are beginning to be met. However, despite these positive developments, progress remains fragmented and quite piece-meal. The task ahead is quite daunting.”

Speaking during the first business panel of the day, titled ‘From responsibility to leadership’, Her Excellency Razan Khalifa Al Mubarak, Secretary General, Environment Agency – Abu Dhabi (EAD), commented on her Agency’s relationship with the business community: “I think we can do more with the private sector, which is why I am here today, it gives us at the Environment Agency a chance to better understand the needs and challenges faced by businesses.”

Commenting on the evolving role of EAD, H.E. Razan Khalifa Al Mubarak said: “It is one thing when government agencies are the only ones responsible for safeguarding the environment, and it is another thing when the private sector shares responsibility for monitoring its impact. Sharing the task of protecting the environment with the private sector increases awareness and understanding of environmental regulation and leads to better outcomes and a cleaner, safer environment for us all – this is one of the many ways we can move the needle from compliance to beyond compliance and towards innovation. At the heart of this transition are public-private partnerships, which enable continuous improvement and kick-start innovation.”

Discussing the occasional tension between businesses and environmental protection, His Excellency Khaleefa Salem Al Mansouri, Undersecretary of Abu Dhabi’s Department of Economic Development (DED), said: “ Sometimes there is a clash between business objectives and maintaining and respecting the environment. However, over the past ten years we have focused on achieving our economic objectives while at the same time protecting the environment. It is always a challenge, but we are working to find the right formula for businesses and industries to grow while mitigating their impact on the environment.”