HE Saeed Mohammed Al Tayer, Chairman of the World Green Economy Organization (WGEO), received HE Yannick Glemarec, Executive Director of the Green Climate Fund (the operating entity of the financial mechanism of the Climate Change Convention and its Paris Climate Agreement). The visit aimed to review Dubai’s existing programmes and projects that support the Emirate’s vision for a green economy.
Al Tayer went through the leading role of the UAE in achieving the vision and directives of the wise leadership in applying the concept of sustainability across all sectors. He highlighted the most prominent successes that Dubai has achieved in sustainability, to consolidate its position as a global hub for a green economy and a role model in the green transition, protecting the environment and increasing the use of clean energy through various projects. These include solar energy, green hydrogen, pumped-storage hydroelectric technology projects among others, through plans and strategies, most notably the UAE Net Zero by 2050 Strategic Initiative, the Dubai Clean Energy Strategy 2050, the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of Dubai’s total power capacity from clean energy sources by 2050, and the Dubai Carbon Abatement Strategy to reduce 30% of carbon emissions by 2030.
Al Tayer also touched upon the Dubai Green Fund, which falls within the third pillar of the Dubai Clean Energy Strategy 2050, launched by HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to find financing solutions for investment in research and development in clean energy and its applications. This encourages investment in green projects and enhances Dubai’s position as a global hub for clean energy and a green economy. The fund aims to reach AED 100 billion in assets.
Al Tayer discussed the 8th World Green Economy Summit (WGES) 2022, which will be held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, and organised by Dubai Electricity and Water Authority, the World Green Economy Organization, and the Dubai Supreme Council of Energy on 28 and 29 September 2022 at the Dubai World Trade Centre, under the theme ‘Climate Action Leadership through Collaboration: The Roadmap to Net-Zero’. WGES underlines the need for concerted international efforts to achieve climate goals.
This year’s WGES comes in light of the preparations to host the 27th session of the Conference of the Parties (COP27) to the UNFCC in November in Egypt and COP28 next year in the UAE.
Source: Dubai Electricity & Water Authority