WGES 2022 To Uphold Investment Tie-Ups Towards Green Economy.

The UAE is the first country to develop the Green Key Performance Indicators focused on three dimensions (environmental, economic, and social) of sustainable development. They include green jobs, Emiratisation, innovation, human development, ecological footprint, and green vehicles.

During the Summit, several local and global high-profile participants, including heads of states and governments, as well as prominent global speakers, official dignitaries from government organisations, academia, experts, and the media, will discuss promising opportunities and investments for the public and private sectors which would enable them to find would enable them to find innovative solutions and financial tools that promote clean and renewable energy projects, sustain growth and drive the global economy towards greater prosperity.

WGES will be held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai,is organised by DEWA and will be held at the end of September 2022.

“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 committee 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—namely: manufacturing, green infrastructure, transportation, and food production and consumption—whilst also driving the overall green transition,” said Abdulla bin Touq Al Marri, Minister of Economy.

“The UAE has worked to integrate the United Nations Sustainable Development Goals (SDGs) 2030 into its vision for the future and to achieve its ambitions for the next 50 years. Pioneering transformational projects such as building solar power plants, using eco-friendly EV cars, as well as building sustainable, low-carbon urban communities support the wise leadership strategy to achieve a sustainable future for vital sectors in the UAE.”said Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, MD & CEO of Dewa and Chairman of the World Green Economy Summit

He further added “They also help to achieve the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Emissions Strategy 2050 to provide 100% of the energy production capacity from clean energy sources by 2050. Dubai has made great strides in its sustainable development journey. It has launched pioneering projects in renewable and clean energy, including the Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world based on the Independent Power Producer (IPP) model.”

“It has a planned production capacity of 5,000 MW by 2030, with investments totalling AED50 billion ($13.61 billion). This enhances the UAE and Dubai’s leadership as a successful model for sustainability worldwide. Since its launch, the solar park’s projects have received considerable interest from global developers, which reflects the confidence of international investors in Dewa’s major projects. Through this model, Dewa has attracted around AED40 billion of investments and received the lowest global solar energy prices five consecutive times, making Dubai a global benchmark for solar energy prices. In line with the UAE’s commitment to promoting green financing, and as part of the third pillar of the Dubai Clean Energy Strategy 2050, the Dubai Green Fund was launched to provide innovative financing solutions to green projects. We are exploring new and innovative financing mechanisms to encourage and enhance spending on sustainable infrastructure,” added Al Tayer.