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On the occasion of the World Green Economy Summit, HE Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, MD & CEO of Dubai Electricity and Water Authority (DEWA) and Chairman of the World Green Economy Organization (WGEO), expressed his sincere gratitude to HH Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, for supporting sustainability initiatives, promoting the green economy and addressing global climate change. Al Tayer also extended his appreciation to HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, for his patronage of the 10th World Green Economy Summit (WGES) and launching WGEO, which works in close co-operation with the UAE Government as part of the Global Alliance on Green Economy (GAGE) to promote collaboration among member countries and stakeholders. Al Tayer also thanked HH Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, for inaugurating the summit, which the Dubai Supreme Council of Energy, DEWA, and WGEO organized. The summit saw the participation of many current and former heads of state, ministers, government representatives, officials, experts, and specialists worldwide.

“The World Green Economy Summit has become one of the foremost global platforms dedicated to advancing the green economy globally. The summit reinforces the UAE’s pioneering and leading role in mobilizing global efforts to enhance climate action and address sustainability challenges. We are pleased with the success of the summit’s 10th edition, which served as a valuable forum for all stakeholders to discuss policies, plans, and strategies, as well as share experiences, knowledge, and innovative ideas that strengthen cooperation and support efforts to balance economic growth and environmental sustainability, supporting the transition to a sustainable green economy and contributing to achieving the UN Sustainable Development Goals 2030,” said Al Tayer.

Al Tayer said that this year’s summit was an opportunity to showcase the pioneering efforts of Dubai and the UAE in balancing economic growth and environmental protection, as well as expanding investments in renewable and clean energy solutions. The summit built upon the outcomes of COP28, which was hosted by the UAE in Dubai last year. Through its sessions and key takeaways, WGES contributed to setting the stage for COP29, which will be held in Azerbaijan in November. This is part of WGES’ efforts to foster global dialogue and cooperation regarding sustainability and the green economy.

A driving force for the global transition to a green economy

“Under the leadership of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, COP28 brought the world together last year to deliver the historic UAE Consensus – the defining point of reference for global climate ambition and sustainable development. While climate action has been seen too often as a burden to nations, we set out to change the narrative and present it as a historic opportunity for growth and innovation – the largest economic opportunity since the first Industrial Revolution. The transition to a green economy will enable us to fast-track new growth streams, create new jobs, and deliver sustainable prosperity for all,” said HE Dr Sultan bin Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and COP28 President.

“Clean energy is a main requirement to build a robust green economy. So, we updated the UAE Energy Strategy 2050 with higher, more ambitious targets. These include tripling our renewables capacity by 2030, growing our clean energy capacity to 19.8 GW by 2030 and increasing the share of installed clean energy capacity to 30% by 2030. We also launched the National Hydrogen Strategy that calls for producing 1.4 million tonnes of low-emission hydrogen per annum by 2031 and increasing production to 15 million tonnes annually by 2050. Both strategies are main enablers of the UAE’s Net-Zero by 2050 target,” said HE Suhail Mohamed Al Mazrouei, UAE Minister of Energy and Infrastructure.

“At the Ministry, we believe our mandate areas – energy, infrastructure, transport, and housing – are at the heart of the shift to a green economy as they present multiple opportunities for deep decarbonization. We are taking confident steps to reduce the carbon footprint of these sectors and enhance their sustainability. Globally, greening these sectors is a huge challenge, but here, in the UAE, it is an opportunity for environmental and economic gains. We stand ready to share our experiences with the world,” added Al Mazrouei.

The Minister noted that WGES proves to be a driving force behind the global shift to a green economy year after year. He expressed his confidence that this edition will be a distinctive addition to a long streak of successful summits.

Advancing global action toward a more sustainable future

“At Expo City Dubai, we are committed to setting new standards in sustainable development, actively supporting our nation’s net-zero targets as we transform from hosts of the World Expo and COP28 into a vibrant community that balances the needs of people and businesses with environmental stewardship. We firmly believe in the power of collaboration and recognize the significance of the 10th World Green Economy Summit as it continues to drive global action towards a greener future,” said HE Reem Al Hashimy, UAE Minister of State for International Co-operation and CEO of the Expo City Dubai Authority.

“The United Arab Emirates has consistently championed the opportunities presented by the transition to a green economy, from new energy sources to more sustainable industries and supply chains. The World Green Economy Summit is the embodiment of this commitment, and, in its 10th year, it will again gather policymakers, researchers, industry experts, and innovators to advance the development of solutions that will not only lead to a cleaner, smarter and more efficient global economy but pioneer new means of value-creation for the benefit of us all,” said HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade.