Saeed Mohammad Al Tayer speaks at the Green Economy Summit in DWTC. Image Credit: Clint Egbert/Gulf News

Dubai: A new State of the Green Economy Report 2018 released on the last of the two-day World Green Economy Summit on Wednesday will help guide the UAE and other countries to a new economic structure growing around the world, said organisers.

The 204-page booklet, containing environmental updates and forward-looking pieces by numerous personalities in environmental, energy and government sectors, is being released for the first time.

The first World Green Economy Report 2018, ‘Inspiring Innovations in Business, Finance and Policy,’ has prepared in collaboration with the University of Cambridge and the United Nations Development Programme (UNDP)

This year’s summit, under the theme “Driving innovation, leading change,” was organised by Dubai Electricity and Water Authority (Dewa) and the World Green Economy Organisation (WGEO), in cooperation with the Dubai Supreme Council of Energy.

In remarks during the launch of the report, Saeed Mohammad Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy and MD and CEO of Dewa, said Dubai and the UAE are doing all they can to brace for the new green economy.

“The Paris climate agreement and the UN Sustainable Development Goals 2030 clearly demonstrate the transition to low carbon economy implores us to reshape our policies for production, distribution and consumption,” Al Tayer told delegates.

Panelist Aris Vrettos, director, International Programs, University of Cambridge Institute for Sustainability Leadership, said the green report is timely given some are still “wondering if climate change is happening. The debate over the green economy is over – it’s here.”

Speaking to predictions that up to 65 million new jobs will be created in years to come, the new green economy, he said, will need more skills. “Green education will be more critical in achieving the green economy in the next decade.”

Panelist Dr Kishan Khoday, team leader in the Arab region, Climate Change, DRR and Resilience, Sustainable Energy and the Environment, United Nations Development Programme, said his organisation was proud to be a partner in the green report.

Khoday said the new report “does a great job highlighting some of the key trends going on around the world.”

He reminded delegates that one of the primary challenges to arriving at a full green economy is securing needed investment.

“As we move toward 2030, the gap in funding is about $2.5 trillion in development countries,” he said.

Panelist Gerd Droesse, general counsel, World Green Economy Organisation, said the new report will help institutions by providing helpful ideas and suggestions to reach a green economy in future years.

“It is necessary for international organisations to find ways to adjust to these new circumstances,” Doresse said.

The State of the Green Economy Report 2018 can be downloaded by logging into www.wegs.ae

Summit deemed a success

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 WGES, said the fifth year of the summit brings new successes.

“Since its inception in 2014, the summit has made great progress and many achievements, notably due to increased cooperation between decision-makers from the public and private sectors. Over 3,700 participants consisting of global experts, thought leaders and business leaders in green economy and sustainable development, have participated in WGES 2018 to discuss key issues such as climate change and global warming,” he said.

“This summit is especially important, because it has set the journey towards the adoption and signature of the agreement establishing the World Green Economy Organisation (WGEO). We sincerely hope that we can count many of your countries amongst the original members of WGEO, who have a very important role in shaping its future,” Al Tayer added.

Al Tayer noted that the summit hosted the Silk Road Mayors’ Meeting on South-South Cooperation in Smart Green Cities and Tourism, to discuss sustainable development. The first Preparatory Conference took place at this fifth Summit, attended by high-profile representatives from at least 60 countries.