DUBAI, 11th June, 2023 (WAM) – Since its launch in 2014, the World Green Economy Summit (WGES) has kept pace with the pioneering global role of the UAE in supporting the green economy, mobilising international efforts to promote climate action and meet the challenges of sustainability. WGES is considered one of the most prominent global events specialising in the green economy. It is also a significant supporter of the relentless efforts made by the UAE and the global efforts aimed at adopting innovative green solutions and encouraging innovation to support sustainable development, as well as achieving a balance between economic growth and environmental sustainability. This is in addition to shaping a sustainable future that can transform challenges into opportunities, in line with the Paris Agreement on climate change, and to achieve the United Nations Sustainable Development Goals (SDGs) 2030.
The Summit, which is held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and is organised by Dubai Electricity and Water Authority (DEWA), the World Green Economy Organization, and the Dubai Supreme Council of Energy, annually discusses some of the most critical issues that accelerate the transition towards a green economy, including energy, finance, food security, reducing carbon emissions, youth, innovation, the environmental, social and corporate governance strategy, new and smart technologies, green economy policies and other important pillars that contribute to promoting the sustainability agenda around the world. WGES brings together intellectuals, government organisations, major corporates, as well as leaders of sustainability funding, and international experts in vital sectors from around the world. This is to exchange best practices and explore the green economy theoretically and practically.
“WGES supports the forward-looking vision of His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the United Arab Emirates, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to consolidate the UAE’s position as a global role model that is successful in achieving accelerated, sustainable, and environmentally friendly growth. Over the past eight editions, WGES has been focusing on transforming the green economy and Net-Zero into a reality. This provides a global platform to discuss and adopt policies, plans and initiatives to enhance international collaboration between the participating business leaders and global experts from the public and private sectors,” said Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy in Dubai, MD & CEO of DEWA, and Chairman of WGEO.
‘’The Summit contributes to making Dubai a hub for a green economy and achieving the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of Dubai’s total power production capacity from clean energy sources by 2050. In the Year of Sustainability in the UAE, and ahead of preparations for the United Nations Framework Convention on Climate Change (COP28), we are fully confident that the 9th WGES will contribute to galvanising global efforts to combat climate change,” he added.
“WGES is a strategic platform to support international cooperation in facing global challenges, promote sustainable development and investments in the field of green economy. It also promotes the adoption of effective policies, plans and initiatives and establishes close partnerships between all stakeholders worldwide. WGES encourages new approaches and more efficient working mechanisms. Besides attracting senior leaders, decision-makers, experts and specialists from around the world, WGES is keen to engage young people and empower them to play an effective role in achieving a sustainable future,” said Waleed Bin Salman, Vice Chairman of the WGEO.
“Over the past years, WGES has succeeded in facilitating dialogue and communication between stakeholders from all countries of the world, and in playing an active role in accelerating Net-Zero and maximising opportunities for achieving sustainable economic and social development. Moreover, it encourages investments in the green economy and pushes for adopting effective policies, plans and initiatives. It enables discussing the most important issues related to climate change, global warming, reducing greenhouse gas emissions, aligning energy policies with sustainable development goals, and exchanging views on successful sustainability strategies, systems, and policies,” said AbdulRahim Sultan, Director General, WGEO.
Milestones and achievements of the WGES:
The 8th WGES
The 8th WGES was held under the theme ‘Climate Action Leadership through Collaboration: The Roadmap to Net-Zero’. Several ministers, experts, decision-makers, officials and the academic community worldwide took part in the Summit. The 8th Dubai Declaration emphasised the importance of comprehensive partnerships and the need to mobilise resources to support low-emission development initiatives and the transition to a green economy. It has called for promoting the efforts and contribution of the public and private sectors in exploring ways to enhance energy efficiency and reduce emissions in the energy systems, mobilising investments to support green growth and sustainability, and empowering the youth to make positive and effective change. It commended the UAE Government, which has developed a pioneering world-class model that balances economic growth, sustainability, and environmental protection.
The Summit witnessed the announcement of the ‘Global Alliance on Green Economy’, launched by WGEO. The Alliance aims to be pivotal in promoting climate action, food security, and climate-resilient development. It also accelerates the transition towards a green economy, achieving the goals of sustainable development and implementing the Paris Agreement by harnessing financing, technology, capacity building, and other factors that contribute to enabling a green economy.
The 7th WGES
The Summit’s 7th edition was held amid exceptional events and activities under the theme ‘Galvanising Action for a Sustainable Recovery’ and in conjunction with the historic Expo 2020 Dubai under the theme ‘Connecting Minds, Creating the Future’. The Dubai Declaration 2021 acknowledged that sustainable and green recovery should steer our efforts to rebuild the economy after the COVID-19 pandemic, as well as to limit the temperature increase to well below 2°C aiming for 1.5°C above pre-industrial levels, in line with the Paris Agreement “COP21”. It highlighted encouraging inclusive partnerships in which governments, businesses and civil society are part of collective action, for current and future generations. It encouraged further support towards low carbon transition by developing a strategy and a roadmap for green hydrogen in Dubai.
6th WGES
The 6th WGES in 2019 focused on three main pillars: sustainable development, international cooperation towards a green economy system and adoption of innovative green solutions. Global leaders and influencers attended the Summit, which attracted around 4000 participants, experts and opinion leaders in various fields of the green economy and sustainable development, including representatives of global markets from 78 countries. Sixty speakers spearheaded 14 seminars and discussion sessions.
The Summit focused on aligning energy policy to the UN SDGs, highlighting the significant workload required to build a sustainable future. Participants exchanged views on successful sustainability strategies, systems and policies, and their potential for replication and scaling up. It also focused on the role of women in achieving a green economy through innovation, cooperation, transparency, environmental management and social solidarity, which are soft skills, and particularly important in environmental sustainability and its development. This version of the Summit explored the challenges and opportunities facing women in sustainability, highlighting various women working in this field, in sectors such as energy, water, finance and development.
During the Dubai Declaration 2019, Al Tayer announced that DEWA and WGEO were jointly leading the establishment of the UN Global Compact Local Network after signing a memorandum of understanding.
5th WGES
The 5th WGES brought together more than 3,700 global experts, specialists, and opinion leaders to discuss key issues such as climate change and global warming. The Summit was especially important because it set the journey towards the adoption and signing of the agreement establishing the WGEO, which was announced earlier.
The Summit focused on three main pillars, including Green Capital, digital transformation, leadership and social engagement. It also discussed the latest smart technologies and digital innovations that accelerate the shift towards a green economy and sustainable development. This ensures the shift towards a green economy. The Summit identified mechanisms for ideal public-private partnerships by developing legislation and regulations that encourage investment opportunities in energy, water and infrastructure projects and improve the quality of their services.
WGEO
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, launched the World Green Economy Organization (WGEO) in collaboration with the UN Development Programme (UNDP) during WGES 2016. WGEO contributes to enhancing the transition to a green economy and disseminating green economy projects at a global level, as well as supporting countries and organisations seeking to achieve their strategies and green plans. WGEO and the UAE Ministry of Climate Change and Environment (MOCCAE) hosted the ‘MENA Climate Week 2022’, in collaboration with the UNDP, the UN Environment Programme (UNEP), UN Climate Change, the UNFCCC, and the World Bank Group from 28 to 31 March 2022, coinciding with the conclusion of Expo 2020 Dubai.
MENA Climate Week 2022, the first of its kind in the region, brought together leaders, experts and specialists from the government and private sectors, and civil society to discuss the effects of climate change, and collaborate on swift, bold actions to address this challenge.
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