Realising UAE Net Zero 2050 could help the country grow its GDP by approximately $1 trillion, with the country striving to be a leader across all domains, including sustainability, a sector expert said.
Besides, collaboration between federal and local governments, the private sector, and communities could yield an extra AED70 billion to the UAE with investments offset by long-term cost savings, notably from reduced fossil fuel use, by 2080, Briano Martinoni, Co-founder and Chief Commercial Officer at Green Future Project (GFP), a B-Corp providing corporate sustainability solutions, said.
Policies like the Dubai 2040 Urban Masterplan and corporate green initiatives are pivotal for building a resilient future, Martinoni said, while detailing why UAE stakeholders play in achieving this realisation.
The GFP Co-founder also said UAE organisations must intensify their green efforts for the country’s sustainable goals.
He said despite the growing environmental awareness, only seven UAE businesses are B-Corps certified out of the 6,700 certified worldwide.
“The data speaks for itself, showing that companies can experience a 15-30 percent brand value increase by simply adopting sustainable practices,” Martinoni said.
He said younger generations are driving environmental change on a global scale but they can only do so much – the onus falls on governmental entities and businesses to ensure a greener world is created for future inhabitants of our planet.
This notion is reinforced by the fact that Scope 3 emissions – indirect emissions that occur in the value chain of any reporting entity – account for 40-80 percent of a company’s total carbon footprint, and sometimes even exceed 90 percent, he added.
The GFP Co-founder said companies are increasingly adopting carbon footprint monitoring tools and this is a welcome sign since it will enable informed decision-making and accelerate positive change.
GFP is helping advance the Emirates’ green objectives by working with UAE-based organisations in sectors including digital banking, hospitality, real estate and communications.
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