Sheikh Ahmed Bin Saeed Al Maktoum
Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, Wednesday inaugurated the 7th World Green Economy Summit (WGES) in Dubai. Image Credit: Virendra Saklani/Gulf News

Dubai: Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy inaugurated the 7th World Green Economy Summit (WGES) in Dubai.

The two-day Summit is being organised by the Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organisation (WGEO) at the Dubai Exhibition Centre.

The opening ceremony was attended by a number of ministers, thought leaders from around the world and senior officials of leading companies.

"This year’s Summit is held under the theme ‘Galvanising Action for a Sustainable Recovery’ and focuses on four main themes: Youth; Innovation and Smart Technologies; Green Economy and Policies; and Green Finance," said Saeed Mohammed Al Tayer, Managing Director and CEO of DEWA and Chairman of the World Green Economy Summit. "The event promises to generate meaningful investments in these fields and create new job opportunities. The green economy is expected to contribute $12 trillion by 2030."

World Green Economy Summit
The World Green Economy Summit focuses on strengthening cooperation among countries and between public and private sectors in innovation, technology, finance, and keeping pace with international best practices in the green economy. The Summit, which offers a platform to discuss the best ways to develop low-carbon economies and combat climate change, will contribute to the global community’s efforts to create a secure and sustainable future, ahead of (COP26) in Scotland in November 2021.

“This will enhance the UAE’s position as a strategic platform to support international cooperation to combat global challenges and promote investments in the green economy. Organising the summit in conjunction with Expo 2020 Dubai consolidates the UAE’s and Dubai's position as a global hub for technologies that promote sustainable development and quality green economy investments,” added Al Tayer.

The UAE has launched major initiatives to diversify clean energy sources to include photovoltaic solar power, concentrated solar power, green hydrogen using renewable energy, and pumped-storage hydroelectric power. The country is also studying the feasibility of using wind power.

“No one should underestimate the magnitude of the task facing the global community in reducing global emissions to prevent a rise in temperatures of more than 1.5 degrees centigrade by 2030. The immediate transition to a green economy is the only way that we have a hope of achieving this target and this transition is therefore an imperative that can no longer be delayed,” said Mariam Almheiri, the Minister of Climate Change and Environment.