Monday, September 12, 2022 – 12:44 PM
DUBAI, 12th September / WAM / His Excellency Saeed Mohammed Al Tayer, President of the World Green Economy Organization, briefed His Excellency Yannick Gilmaric, Executive Director of the Green Climate Fund, the operating entity of the financing mechanism of the Climate Change Agreement and its Paris Agreement, about the existing programs and projects in Dubai that support the emirate’s vision in the areas of green economy.
His Excellency reviewed the leading role of the UAE in achieving the vision and directives of the wise leadership through the application of the concept of sustainability at the level of all sectors, speaking about the most prominent successes that Dubai has achieved in the areas of sustainability, consolidating its position as the capital of the green economy in the world and a global model in achieving green transformation, protecting the environment and increasing the uses of clean energy Through various projects related to solar energy, green hydrogen, hydropower, stored hydropower technology and others through plans and strategies, most notably the UAE strategic initiative to achieve climate neutrality by 2050, the Dubai Clean Energy Strategy 2050 and the carbon neutrality strategy for the Emirate of Dubai 2050 to provide 100% of the energy production capacity from clean energy sources by 2050, and a strategy to reduce carbon emissions, which aims to reduce them by 30% by 2030.
His Excellency touched on the Dubai Green Fund, which falls within the third track of the Dubai Clean Energy Strategy 2050 launched by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to find financing solutions to invest in research and development related to clean energy and its applications. This is to encourage investment in green projects and enhance Dubai’s position as a global center for clean energy and green economy, with the aim of reaching 100 billion dirhams of assets under the management of the fund.
He addressed the eighth session of the World Green Economy Summit 2022, which will be held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum and organized by Dubai Electricity and Water Authority, the World Green Economy Organization and the Dubai Supreme Council of Energy on 28 and 29 September at the Dubai World Trade Center under the slogan “Leading Climate Action through Cooperation: The Roadmap to Achieving Carbon Neutrality” stressing the need for concerted international efforts to achieve climate goals.
This year’s summit comes in light of the preparations of the sisterly Arab Republic of Egypt and the United Arab Emirates to host the twenty-seventh and twenty-eighth sessions of the Conference of the Parties to the United Nations Framework Convention on Climate Change this year and next.
Wam/ Salma Al Shamsi/ Dina Omar