The forthcoming World Green Economy Summit (WGES) in Dubai is expected to spur investment partnerships in green projects and financing, a senior UAE minister said.
The UAE has promised to raise $4 billion to invest in technologies that will transform agriculture and food production to limit climate change.
“The summit will act as a global platform for international partners to explore and learn more about innovative investment opportunities in the green economy,” Abdullah bin Touq Al Marri, Minister of Economy, said, WAM reported.
The summit, organised by Dubai Electricity and Water Authority (DEWA), will be held on September 28-29 at Dubai’s World Trade Centre.
Several heads of states and governments as well as prominent global speakers, officials from government organisations, academia and experts are expected to discuss promising opportunities and investments for the public and private sectors during the two-day event.
The holding of the summit in the UAE is aligned with the national efforts aimed at promoting the green economy as a policy priority and the transition towards a new economic model that is more diverse, resilient, and sustainable, in line with the country’s vision for the next 50 years, Al Marri added.
“The green economy is central to our 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, and it has achieved tangible growth, supported by the newly established UAE Circular Economy Council and its policy committee,” the minister said.
The minister also revealed that the council has developed a roadmap comprising 22 new solutions and initiatives in support of the circular economy.
“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,” the minister said.
The UAE has committed $400 million to enable the transition to clean energy for developing nations, which is expected to positively impact 100 million African citizens by 2035.
The global green energy summit is also expected to highlight the importance of making global changes in consumption, production and investment patterns to achieve the Paris Agreement for climate change.
According to the International Renewable Energy Agency (IRENA) and the International Labour Organisation ‘Renewable Energy and Jobs – Annual Review 2021’, worldwide employment in renewable energy was estimated at 12 million in 2020 – both directly and indirectly, up from 11.5 million in 2019.
Most of these jobs were focused on solar photovoltaic panels, bioenergy, hydropower and wind energy.
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