The World Green Economy Summit stimulates investment partnerships in green projects

The eighth edition of the World Green Economy Summit, held in Dubai, focuses on developing investment partnerships in green projects and green finance, and stimulating investment and employment opportunities provided by the green economy.

A number of local and international dignitaries, including heads of state and heads of government, in addition to a large number of international speakers, officials, representatives of government institutions, representatives of the media, experts and academics, will discuss during the summit the promising opportunities and investments available to the public and private sectors to employ innovations and modern technologies to find solutions and financing tools. Innovative projects that support the spread of clean and renewable energy projects, sustain growth and push the global economy towards greater prosperity.

The World Green Economy Summit 2022 supports the efforts of the United Arab Emirates to enhance the momentum of green investments by bringing together decision-makers and investors under one roof in the UAE, which supports the country’s efforts to promote green finance, as the UAE is the first country to develop and issue a guide to measure transformation. Towards a green economy, the guide focuses on three dimensions of sustainable development: economic, social and environmental. These dimensions include indicators about green jobs, Emiratisation, innovation, human development, environmental footprint, green vehicles, and others.

The UAE has allocated $400 million to enable the transition of developing countries to clean energy and pledged to help provide green electricity to 100 million Africans by 2035. Climate change.

The summit stresses the importance of making global changes in consumption, production and investment patterns, to achieve the Paris climate agreement. It also paves the way for the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), which will be hosted by Dubai Expo next year, which is an important event for shaping global sustainability and a green future. and strengthening the position of the Middle East region as a key driver of the green economy and green infrastructure.

The summit will be held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and organized by the Dubai Electricity and Water Authority and the World Green Economy Organization on September 28 and 29, 2022 at the Dubai World Trade Center.

Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, Managing Director and CEO of Dubai Electricity and Water Authority and Chairman of the World Green Economy Summit, pointed out that the UAE has adopted early and since 2012 the green economy through the Emirates Green Development Strategy launched by His Highness Sheikh Mohammed Bin Rashid Al Maktoum, may God protect him, under the slogan "Green Economy for Sustainable Development", through which the country seeks to be a global leader and a successful model in sustainability by promoting a green economy and maintaining a sustainable environment that supports long-term economic growth.

000 megawatts by 2030, with a total investment of 50 billion dirhams, consolidating the leadership of the state and Dubai as a successful model for sustainability around the world.

Since its launch, the complex has attracted wide interest from international developers, which reflects the confidence of investors from around the world in the major projects implemented by DEWA in cooperation with the private sector, according to the independent product model.

Through this model, the authority attracted about 40 billion dirhams of investments and achieved world records for the lowest prices for solar energy projects for five consecutive times, and Dubai has become a benchmark for solar energy prices worldwide.

As part of the country's efforts and commitment to promoting green finance, and within the framework of the third track of the Dubai Clean Energy Strategy 2050, the "Dubai Green Fund" was launched.

Abdullah bin Touq Al Marri, Minister of Economy, said: "The UAE adopts an ambitious future vision to enhance the possibilities of economic diversification and develop new economic sectors in areas that serve the sustainable development process. The green economy is one of the most important sectors that serve this trend, and the state has taken important steps to build Its capabilities in this field, and the circular economy is one of the main drivers on which the state’s efforts are based in this vital file, and it has witnessed tangible growth through the initiatives of the Emirates Council for Circular Economy and its Policy Committee, which succeeded in developing 22 new policies for the circular economy in the country serving 4 The main sectors are manufacturing, green infrastructure, transportation, food production and consumption. These policies contribute to addressing the challenges facing the implementation of the circular economy in these sectors and accelerate the shift towards green development.

Bin Touq added that the shift towards a new, greener and more sustainable development model is a global trend and plays a major role in shaping the features of the economies of the future, hence the importance of the World Green Economy Summit, which offers a platform for discussion with international partners and the study of new opportunities for investment in this vital field, including It enhances national efforts to develop the potentials for the growth of the green economy as an inevitable priority for the next stage, and a fundamental pillar of the transition to a new, more diversified, flexible and sustainable economic model in accordance with the state’s vision and objectives for the next fifty years.

The summit highlights the growing interest of global investors in the renewable energy sector, and ways to benefit from the boom in financing the environment, society and governance, with the aim of achieving green growth, as - according to the report of the International Renewable Energy Agency (IRENA) and the International Labor Organization "Annual Review - Renewable Energy and Jobs 2021" - The renewable energy sector provided 12 million jobs around the world during the year 2020, compared to 11.5 million jobs during the year 2019, in direct and indirect jobs, and the sector’s jobs continued to grow around the world since 2012. Job opportunities were more concentrated in Solar PV, bioenergy, hydropower and wind energy.

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