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03 March 2024

World Green Economy Summit outlines sustainability in various fields

By E247

Sustainability, often defined as the capacity to progress and develop while safeguarding natural resources, was articulated by the United Nations through the Brundtland Commission report. This framework aims to address the current generation’s needs without jeopardising the prospects of future generations. The definition lies in recognising our planet’s finite resources and the need to conserve and replenish them, ensuring an ample resource pool for future generations without compromising the quality of life in the present. To realise this desired development, humanity must embark on the journey of constructing communities that are sustainable and socially responsible. The primary focus should revolve around environmental protection and maintaining an equilibrium in the interaction between human and natural systems. Preserving our planet’s ecosystems and continuing a natural way of life necessitate sustainable decision-making and adoption of sustainable choices at individual, community, and international levels. Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the 9th edition of the World Green Economy Summit is being organised by Dubai Electricity and Water Authority (DEWA), the World Green Economy Organization (WGEO), and the Dubai Supreme Council of Energy on November 28 and 29, 2023. This summit is perfectly timed to align with the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), hosted by the UAE at Expo City Dubai. Building on the successes and achievements of prior editions, this instalment of the summit aims to further strengthen collaborative efforts with all stakeholders and partners. It provides a platform for discussions on strategies to reduce greenhouse emissions, foster innovative solutions to combat the repercussions of climate change, and showcase solutions for a swift and equitable transition toward a globally integrated green economy.

Being held under the theme ‘Bridging the Gap to the Future: Advancing the Global Green Economy,’ WGES focuses on key topics to expedite the shift towards a sustainable and green economy. These subjects encompass energy, finance, food security, carbon emission mitigation, youth and innovation, environmental and social practice strategies, corporate governance, latest technological innovations, green economy policies, and other factors that actively contribute to advancing global sustainability goals. The summit serves as a platform to convene thought leaders, government organisations, prominent companies, leaders in sustainable finance, and international experts and specialists spanning key sectors worldwide. Their collective participation fosters the exchange of best practices and the exploration of the nature of a green economy and fair economics from both theoretical and practical standpoints.
“The UAE, represented by its government entities and the private sector, with the support of our wise leadership, is building a strong framework to enhance environmental and climate sustainability. This framework plays a pivotal role in global climate, environmental action and in efforts to consolidate a green economy locally and globally. The green economy will be a priority during the discussions at COP28 hosted in the UAE later this month. We will also discuss the possibility of a just and equitable global energy transition, by enabling developing countries to secure the financing and technology necessary to achieve this transformation while enhancing their capabilities to confront and adapt to climate change,” said HE Mariam bint Mohammed Almheiri, UAE Minister of Climate Change and Environment.

“The green economy supports the UAE’s directives, and the World Green Economy Summit will highlight the main pillars of the green economy and discuss them with the participants at COP28. During the conference, we seek to radically transform food and agricultural systems into more sustainable systems, by calling on counties to sign the Emirates Declaration on Resilient Food Systems, Sustainable Agriculture, and Climate Action and invest in this field. The goal is to enhance global efforts towards reducing emissions and keeping global temperature rises at 1.5 degree Celsius, as well as eliminating global hunger, and establishing a green economy now and for future generations,” Almheiri added.
“The transition toward a green economy necessitates fundamental changes encompassing economic structures, production and consumption patterns, as well as institutions of varying sizes. This transformative journey serves as the pathway to addressing the challenges posed by climate change while promoting economic development. In this context, we take pride in the pioneering strides taken by the UAE in sustainability and boosting the transition towards a sustainable green economy. The UAE is one of the foremost nations in implementing comprehensive sustainability-related policies and initiatives. The World Green Economy Summit serves as a global forum that facilitates the discussions and adoption of policies, strategies and initiatives to foster international collaboration among leaders and experts from the public and private sectors worldwide. This summit presents an invaluable opportunity for the exchange of ideas, sharing of experiences, and the augmentation of comprehension regarding the promotion of the green economy and the pursuit of sustainability,” said HE Saeed Mohammed Ahmad Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy and Chairman of WGEO.

“Given the UAE’s preparations to host the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), we are confident that the 9th edition of the World Green Economy Summit will play a significant role in bolstering local and global efforts to combat climate change and enhance sustainability. I extend an invitation to all parties to collaborate in shaping a brighter and more sustainable future for the current and future generations,” added Al Tayer.
The UAE Government is deeply committed to striking a balance between economic growth, environmental preservation, and the preservation of cultural heritage. The nation’s unwavering dedication exemplifies its determination to achieve sustainable development goals and active engagement in the global drive to tackle environmental and resource-related challenges. Notably, the UAE is making remarkable efforts to bolster investments in renewable energy solutions, underpinned by a substantial and diversified portfolio in the renewable energy sector. The World Green Economy Summit is pivotal for fostering effective collaboration between governments and businesses. It provides an invaluable opportunity for exchanging ideas, encouraging collaboration and unification of efforts to drive a positive and enduring transition towards a more sustainable world.