Ahmed Bin Saeed Al Maktoum Inaugurates World Green Economy Summit 2024 In Dubai To Address Climate Change
The 10th World Green Economy Summit (WGES) commenced in Dubai, inaugurated by H.H. Sheikh Ahmed bin Saeed Al Maktoum under the patronage of H.H. Sheikh Mohammed bin Rashid Al Maktoum. Organised by the Dubai Supreme Council of Energy, DEWA, and WGEO, the summit focuses on "Empowering Global Action: Unlocking Opportunities and Advancing Progress." It runs at the Dubai World Trade Centre until 3 October 2024.
Surangel Whipps Jr., President of Palau, highlighted the immediate threat of climate change, emphasising collective action. He stated, "Climate change is not a distant threat to us; it is a present, tangible danger that we live with every day." He stressed the importance of protecting oceans as vital carbon sinks and allies in combating climate change.
Dr Amna bint Abdullah Al Dahak noted the UAE's dedication to achieving net zero by 2050 under President Sheikh Mohamed bin Zayed Al Nahyan's leadership. The nation aims for a green economy through global partnerships and initiatives. The COP28 UAE Consensus underscores this commitment, focusing on sustainable agriculture and resilient food systems.
Saeed Mohammed Al Tayer expressed gratitude to H.H. Sheikh Mohammed bin Rashid Al Maktoum for supporting WGES. He acknowledged H.H. Sheikh Ahmed bin Saeed Al Maktoum for inaugurating the event. Al Tayer highlighted UAE's strategies for transitioning to a green economy under visionary leadership.
Al Tayer emphasised climate finance's role in sustainable development. He mentioned initiatives like the Dubai Green Fund and WGEO launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum to advance climate finance. Achieving net-zero carbon emissions requires significant investments in clean energy technologies.
Locally, projects like the Mohammed bin Rashid Al Maktoum Solar Park have become global icons. Masdar's Noor Abu Dhabi project exemplifies transformative solar initiatives. A McKinsey report noted a 50% increase in global renewable energy capacity last year, highlighting rapid market changes.
Technological Advancements and Challenges
Al Tayer discussed AI's role in addressing climate change, driven by the UAE National Strategy for Artificial Intelligence 2031. The energy sector faces challenges like Europe's need for over 240 billion euros to upgrade utility networks and expand renewable energy capacity by 2030.
Dubai's electric vehicle numbers have surged to around 30,000 due to green mobility efforts. In 2011, solar projects were absent in Dubai; now, clean energy accounts for over 17% of its energy mix, aiming for 27% by 2030.
Green Hydrogen and Youth Involvement
The Green Hydrogen project at the solar park enhances UAE's competitiveness in this market. Projections indicate a significant growth in green hydrogen production by 2030. This year's summit also focuses on youth involvement in tackling climate change effects.
José María Figueres Olsen praised UAE’s renewable energy leadership: "The UAE... has demonstrated that climate ambition and economic growth can work hand in hand." Costa Rica’s conservation efforts serve as another example of balancing environmental and economic benefits.
The inauguration was attended by notable figures including Surangel Whipps Jr., Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, Dr Amna bint Abdullah Al Dahak, José María Figueres Olsen, Flavien Joubert from Seychelles, Aisha Sekindi from Uganda, Messouda Baham Mohamed Laghdaf from Mauritania among others.
As WGES concludes its successful tenth edition, it continues to foster dialogue on sustainable practices globally. The summit remains a crucial platform for advancing green economy initiatives and addressing pressing environmental challenges worldwide.
With inputs from WAM
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