At COP27, Al Tayer emphasises the need of WGEO's partnership with international actors in order to explore the role of green economy in solutions based on the natural world

The session, titled "The Role of Green Economy in Nature-based Solutions," was co-hosted by the UNFCCC - WGEO and HSBC Middle East, and featured a series of multistakeholder dialogues examining the importance of biodiversity to human survival and the funding necessary to ensure both Nature's and humanity's survival.

Al Tayer highlighted the potential of nature-based solutions or processes to significantly mitigate climate change and its effects while also addressing regional challenges like air, water, and soil pollution. He also highlighted the importance of social inclusion, international collaboration, social innovation, and the private sector in advancing the development of nature-based solutions.

In his statement, Al Tayer added, "The world is seeing huge issues across all sectors owing to climate change, which has created natural disasters in numerous locations worldwide. The water levels in Europe's major rivers dropped because to the continent's worst drought in at least 500 years. Water from heavy rainfall inundated a third of Pakistan, causing enormous devastation and human suffering. According to the Intergovernmental Panel on Climate Change's Sixth Assessment Report, water quality and availability will be impacted by climate change. If temperatures rise by 2 degrees Celsius, it is estimated that between 800 million and 3 billion people around the world could face severe water shortages owing to droughts. In order to safeguard economies, livelihoods, and ecosystems, this situation necessitates global climate action.

Al Tayer continued, "What is required today are solutions that address multiple concerns at once. Food and water security, climate change, biodiversity loss, and disaster response can all be improved by adopting green economic practises and turning to answers found in nature. Restoring natural ecosystems, planting trees, and farming in a way that reduces greenhouse gas emissions all help the economy and people adapt to climate change. Not only do events like COP 27 give people from all around the world a chance to have their views heard, but they also create a space where people can come together to discuss climate change, exchange ideas, and make new commitments. One of the most important things that these platforms do is ensure that all relevant parties are fully invested in and engaged in any and all efforts to mitigate climate change. This will aid in the adaptation of people and animals, and preserve the survival of Earth's environment.

To achieve sustainable development and mitigate the effects of climate change, the United Arab Emirates places a premium on embracing green economy ideas and practises. The United Arab Emirates (UAE) is at the forefront of this movement, having established a framework for reaching net-zero emissions, kicking off green initiatives, and implementing ambitious national strategies and policies to combat climate change and its effects, as well as to find a path to economic growth without compromising environmental standards. Dubai has initiated major strategic efforts and development projects in support of the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050, both of which aim to offer 100% of the total power production capacity from clean energy sources by 2050.

The Mohammed bin Rashid Al Maktoum Solar Park, built by DEWA, will be the world's largest single-site solar park using the Independent Power Producer (IPP) model by 2030, and it will have a production capacity of 5,000 MW. DEWA also built the first clean energy pumped-storage hydroelectric power plant in the Gulf Cooperation Council (GCC) region in Hatta. Al Tayer has declared this to be the first pilot project of its kind in the MENA region to produce green hydrogen.

Al Tayer spoke about the United Arab Emirates' (UAE) commitment to a green economy and the necessity of nature-based solutions in these areas (food and water security; climate change; biodiversity loss; disaster response).

It is important to connect these parts so that the implementation goes smoothly and efficiently. Cooperation on a global scale is essential to advancing the green economy, as it ensures a fresh perspective and a strong alliance among all relevant parties. To this end, in September 2022, the government of the United Arab Emirates (UAE) and the World Green Economy Organization (WGEO) created the Global Alliance on Green Economy to facilitate green economic policymaking and implementation on a global, regional, and national scale. Transition, climate change, and sustainable development will all be addressed by Alliance-backed solutions. Al Tayer concluded that today's session at COP 27, among others, will help move us closer to making such solutions available and accessible and lead us towards achieving our shared ambitions to combat the harmful effects of climate change and support cooperation initiatives to help the world achieve future sustainability through the transition to a green economy.