Dubai,
UAE, 25 October 2017: The 4thWorld Green Economy Summit
(WGES), held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum,
Vice President and Prime Minister of the UAE and Ruler of Dubai concluded today
(25 October 2017). The summit, held under the theme ‘Driving Innovation,
Leading Change’ brought together many prominent speakers from across the globe,
in addition to dignitaries and representatives from government organisations,
academicians, experts and the media.
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
WGES, announced the Dubai Declaration 2017 at the conclusion of WGES 2017. HE
expressed his gratitude and appreciation to His Highness Sheikh Mohammed bin
Rashid Al Maktoum, for his presence and his patronage of the Summit.
Al Tayer
said that the Dubai Declaration reflects the relentless endeavours and efforts
to make Dubai a global hub of green economy. He then summarised the
achievements of the past years and commitments for the next year. Al Tayer emphasised
that Dubai has always delivered on its promises as it continues its endeavours
to become the global capital of green economy, reinforcing its global position
as a role model in partnerships and green finance.
The
major strategies - starting from the UAE Centennial 2071, UAE Vision 2021,
Dubai Plan 2021, UAE Green Agenda 2030 and Dubai Clean Energy Strategy 2050 to
the Paris Agreement– have set the course for a continuous economic growth and
sustainable development.
In the
spirit of the Summit’s outcomes, he reaffirmed Dubai’s engagement in global
efforts to promote sustainability, energy security and protection of
environment for future generations.
“As we work
to further enhance Dubai’s position as a global role model for sustainability, we
will be relentless in our efforts to deliver innovative solutions that
contribute to the transformation towards a green economy. Our wise leadership
has recently announced its support for the UAE National Climate Change Plan
2050, to reflect the nation’s goals to become among the best-prepared country
to combat climate change and achieve sustainable development. This plan unifies
our concerted efforts and enhances cooperation between the private and public
sectors and will become a major element in the transition to a green economy.
This is why the UAE has set an example for an economy based on solid
public-private partnerships as part of its pioneering role to achieve environmental
sustainability,” Al Tayer said.
Future Plans and Aspirations
Talking
about Dubai’s future plans and aspirations, Al Tayer said that Dubai continues
its journey of excellence by launching mega green projects, particularly the
Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site
solar park in the world based on the IPP model with a capacity of 5000 MW by
2030.
“His
Highness Sheikh Mohammed bin Rashid Al Maktoum launched the world’s largest
single-site Concentrated Solar Power (CSP) project based on the IPP model with
a total capacity of 700-megawatt as part of the Solar Park. Additionally, an
Innovation Centre and R&D Centre, equipped with the latest renewable and
clean energy technologies are being developed. The country is also striving to
achieve the Green Mobility Initiative in Dubai to promote the use of electric
vehicles,” Al Tayer pointed out.
Global Partnerships and Future Endeavours
Focusing
on global partnerships, His Excellency said that following the successful
launch of the World Green Economy Organisation (WGEO) last year, the
organisation has been working with many countries to implement the global green
economy agenda, by collaboration, joint discussions and technical support.WGEO has launched seven
platforms, including the Country Platform that was revealed yesterday at the
Summit, where in addition to the UAE, Italy and the Republic of Korea have
joined as members.
Al Tayer
stated that they will continue to work with the United Nations Development
Program to support the growth and development of WGEO as a key strategic player
for achieving the aspirations of a green economy.
Green Finance
His
Excellency said that green finance is one of the five main pillars of the Dubai
Clean Energy Strategy 2050 that was announced by His Highness Sheikh Mohammed
bin Rashid Al Maktoum, in 2015. The strategy includes the establishment of the
AED 100 billion ‘Dubai Green Fund’ with a view to finance investments in the clean
energy sector through partnerships with financial institutions to provide
innovative solutions to support green projects locally and
internationally.
In this
regard, a joint collaboration between DEWA and National Bonds was announced
yesterday to launch the green fund with an initial AED 2.4 billion, and a
Sharia-compliant arm. Al Tayer stated that this was a testament of the UAE’s
endeavours and commitment to enhancing green finance.
Lastly,
His Excellency took the opportunity to highlight the role of the youth and
their effective contribution considering they are tomorrow’s leaders, who would
lead the change for a better future now and for generations to come. His
Excellency also thanked the participants, sponsors, supporters and partners for
their effective support at the Summit.