World Green Economy Summit 2024 Concludes, Showcasing UAE's Leadership In Sustainability Initiatives

The World Green Economy Summit (WGES) 2024 wrapped up on Thursday, drawing participation from global leaders, ministers, and experts. Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy and CEO of DEWA, expressed gratitude to President Sheikh Mohamed bin Zayed Al Nahyan for supporting sustainability efforts. He also thanked Sheikh Mohammed bin Rashid Al Maktoum for his patronage of the summit.

Al Tayer highlighted the summit's role in promoting the UAE's leadership in climate action. "The World Green Economy Summit has become one of the foremost global platforms dedicated to advancing the green economy globally," he stated. The event provided a platform for stakeholders to discuss strategies and share innovative ideas to balance economic growth with environmental sustainability.

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, emphasised clean energy's importance in building a robust green economy. The UAE Energy Strategy 2050 was updated with ambitious targets, including tripling renewable capacity by 2030. The strategy aims to grow clean energy capacity to 19.8 GW by 2030 and increase its share to 30% by then.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, noted COP28's success in uniting global climate efforts under UAE leadership. He remarked that transitioning to a green economy offers significant economic opportunities akin to those seen during the Industrial Revolution. This shift is expected to create jobs and foster sustainable prosperity.

The National Hydrogen Strategy was launched to produce 1.4 million tonnes of low-emission hydrogen annually by 2031, aiming for 15 million tonnes by 2050. These initiatives are crucial for achieving the UAE’s Net-Zero target by 2050. Al Mazrouei stated that sectors like energy and infrastructure are central to this transition due to their potential for decarbonisation.

Reem Al Hashimy, Minister of State for International Co-operation, reiterated Expo City Dubai's commitment to sustainable development. She highlighted the significance of collaboration in achieving net-zero targets and recognised WGES as a catalyst for global green initiatives.

Global Collaboration and Future Prospects

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, affirmed the UAE's dedication to exploring green economy opportunities through sustainable industries and supply chains. He described WGES as a testament to this commitment, gathering experts to develop solutions for a cleaner global economy.

The summit built upon COP28 outcomes held in Dubai last year and set the stage for COP29 in Azerbaijan this November. It aimed at fostering dialogue among nations on sustainability issues while showcasing Dubai's efforts in balancing economic growth with environmental protection.

Al Mazrouei expressed confidence that WGES continues driving the global shift towards a green economy. He noted its role as a distinctive addition to successful summits over the years.

With inputs from WAM