Ahmed Bin Saeed Inaugurates 7th World Green Economy Summit

HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, today inaugurated the 7th World Green Economy Summit (WGES) in Dubai. The two-day Summit is being organised by the Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organisation (WGEO) at the Dubai Exhibition Centre, Expo 2020 Dubai.

The opening ceremony was attended by a number of ministers, thought leaders from around the world and senior officials of leading companies.

In his keynote speech, HE Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA and Chairman of the World Green Economy Summit,expressed his gratitude to HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai for extending his patronage to the WGES, and gracing the opening ceremony of the seventh edition of the event. Organised under the guidance of His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the UAE, and the support of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, WGES 2021, is aligned with the Principles and Projects of the 50 which outline the UAE’s strategy to enhance its economic and social development over the next five decades, achieve UN Sustainable Development Goals 2030and transform the country into a green economy.

Al Tayer said the Sixth Assessment Report of the Intergovernmental Panel on Climate Change has highlighted the critical challenges the world faces today due to climate change and environmental damage, which have already resulted in wildfires, floods, and the accelerated melting of glaciers. No one can argue that the pledges made by countries at the Paris Climate Summit in 2015 to reduce carbon emissions are enough to keep global warming at 1.5 degrees Celsius. We must act now so that we can preserve Planet Earth for generations to come, he said.

“The WGES’ agenda is in line with the futurstic vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to turn challenges into opportunities. We take this challenge as an opportunity to diversify the economy and invest in new growth drivers. This year’s Summit is held under the theme ‘Galvanising Action for a Sustainable Recovery’ and focuses on four main themes: Youth; Innovation and Smart Technologies; Green Economy and Policies; and Green Finance.  The event promises to generate meaningful investments in these fields and create new job opportunities. The green economy is expected to contribute $12 trillion by 2030,” said Al Tayer.

The World Green Economy Summit focuses on strengthening cooperation among countries and between public and private sectors in innovation, technology, finance, and keeping pace with international best practices in the green economy. The Summit, which offers an exceptional platform to discuss the best ways to develop low-carbon economies and combat climate change, will contribute tothe global community’s effortsto create a secure and sustainable future, ahead of (COP26) in Scotland in November 2021. “This will enhance the UAE’s position as a strategic platform to support international cooperation to combat global challenges and promote investments in the green economy. Organising the summit in conjunction with Expo 2020 Dubai consolidates the UAE’s and Dubai's position as a global hub for technologies that promote sustainable development and quality green economy investments,” added Al Tayer.

The UAE has launched major initiatives to diversify clean energy sources to include photovoltaic solar power, concentrated solar power, green hydrogen using renewable energy, and pumped-storage hydroelectric power. The country is also studying the feasibility of using wind power. These efforts have helped Dubai reduce its carbon emissions by 22% in 2019, two years ahead of the 2021 target set in the Dubai Carbon Abatement Strategy to reduce carbon emissions by 16%. In 2019, the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat chose Dubai to host the MENA Climate Week, the first climate event of its kind to be held in the Middle East and North Africa. The event will coincide with the next edition of the Summit to be held from 2-3 March 2022.

HE Mariam Almheiri, the Minister of Climate Change and Environment, said,“No one should underestimate the magnitude of the task facing the global community in reducing global emissions to prevent a rise in temperatures of more than 1.5 degrees centigrade by 2030. The immediate transition to a green economy is the only way that we have a hope of achieving this target and this transition is therefore an imperative that can no longer be delayed. It makes this seventh World Green Economy Summit the most important of all the summits in the series. I expect nothing less than concrete action plans from this forum on how the UAE can use its leading expertise in sustainability to achieve the UAE and the global climate and environment objectives, with our country qualified to lead this charge through – among other things - our agenda to transform our food systems, our commitment to increasing the mix of renewable energy, and our investment in green economy initiatives, including the development of human capital. Through these and an array of other measures we are able to play and instrumental role in creating a sustainable future for the UAE and the world.”

HE Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises (SMEs),emphasised that the UAE places the highest strategic priority on the green economy and the United Nations’ sustainable development goals (SDGs).

“The World Green Economy Summit is aligned with the UN’s 2030 Agenda for Sustainable Development and the UAE’s green transformation objectives,” HE Al Falasi said. “The event sets ambitious objectives to motivate young people and engage them in efforts to preserve and protect the environment. It also extends support to small and medium enterprises in developing strategies for preserving the environment. These initiatives are in line with the UAE Green Growth Strategy, which seeks to build an economic system that preserves the environment and boosts the UAE’s rise as a global leader in the green economy. We are confident the event will generate innovative ideas to promote collaboration to achieve green economy goals and global efforts to realise sustainable development objectives,” added Al Falasi.

“We won’t tackle climate change by fighting the economy. In order to provide our children with a sustainable future, we need to guide and lean on it. Green economy is the future,” said Francois Hollande, Former President of France.

”The green economy must be established as a partnership between nation states and the business community, allowing investment descions to go hand in hand with regulatory measures,” said Fredrik Reinfeldt, Former Prime Minister of Sweden

"Achieving net zero will require action from everyone to transform the way our societies and economies are organised. It is a critical challenge for the entire humanity, but tackling the collective threat of climate change will also lead us to an era of unprecedented opportunities if we embrace science and innovation. Together, we can create the innovation snowball effect,” said Taavi Madiberk, Co-founder & CEO, Skeleton Technologies.

“The climate crisis is an existential threat to life on earth. Recently the UN Secretary General issued the highest level of warning: a Code Red. We are now way past the point where organisations can keep quiet and do nothing. We need all hands on deck to take action. Protecting the environment is the defining issue of our generation. The decisions we take now will affect every person, every future generation and the whole of the animal kingdom. Every generation has the opportunity to change the world, to make it safer and more sustainable. We must be that generation,” said Lewis Pugh, UN Patron of the Oceans.