WGEO stresses on building a green and sustainable economy

Business Bureau, Gulf Today

The 2nd Preparatory Conference on the Establishment of World Green Economy Organisation (WGEO) and the WGEO Private Sector Platform was successfully organised on Sunday under the patronage of Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy (DSCE).

The event was attended by Dr. Thani Ahmed Al Zeyoudi, Minister of Climate Change and Environment of the UAE; Saeed Mohammed Al Tayer, Chairman of WGEO; Abdulla Al Basti, Secretary General of the Executive Council of Dubai; Dr. Mattar Hamed Al Neyadi, Undersecretary of the Ministry of Energy and Industry and Abdulrahman Ghanem Al Mutaiwee, Director of the Dubai Office of the Ministry of Foreign Affairs and International Cooperation.

The conference, which is organised by World Green Economy Organisation in cooperation with the UAE’s Ministry of Foreign Affairs and International Cooperation, the Ministry of Climate Change and Environment and the WGEO, witnessed wide participation from international official delegations, senior officials and executives from regional and international organisations and pioneering local and global private sector companies.

In his inaugural address, Saeed Mohammed Al Tayer welcomed Sheikh Ahmed Bin Saeed Al Maktoumand thanked him for his patronage for the 2nd preparatory conference on the Establishment of a World Green Economy Organisation.

Al Tayer said: “The organisation is aiming to engage many stakeholders through the private sector platform, which is essential to the success of the green economy transformation and addressing priority issues. The private sector will be an integral part of our business platform. We are working hard in the selection and sourcing of funds for long-term, broad-based projects to enable countries, other entities and institutional investors to support the efforts to find sustainable solutions to drive the green economy.”

Al Tayer added: “His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai launched the World Green Economy Organisation in collaboration with the United Nations Development Programme (UNDP) in October 2016 during the World Green Economy Summit in Dubai to enhance the transition to a green economy and disseminate green economy projects at a global level, as well as support countries and organisations seeking to achieve their strategies and green plans. The organisation works in collaboration with several countries around the world to support the goals of the United Nations for Sustainable Development 2030, through seven platforms - the States Platform, the Cities Platform, the Private Sector Platform, the Financial Institutions Platform, the International Organisations Platform, the Academia & Civil Society Platform and Youth platform.”

Al Tayer said: “The organisation is aiming to engage many stakeholders through the private sector platform, which is essential to the success of the green economy transformation and addressing priority issues. The private sector will be an integral part of our operational modalities as we strive to identify, long-term, high-impact bankable projects for states and other entities and institutional investors to support the shift towards sustainable green economy solutions.”

Dr Thani Bin Ahmed Al Zeyoudi said: “The escalating impacts of climate change the world is witnessing today and our commitment to building a more sustainable future for the upcoming generations mandate that we all join forces and expedite the transition to a green economy. Doing so will boost economic growth while safeguarding our environment and natural resources that are crucial to our very survival.”

Abdulrahman Ghanem Al Mutaiwee said, “We are here today with the hope of achieving our common vision under the umbrella of the WGEO, through which we seek to promote sustainable development and the green economy. The UAE has made great strides to accelerate the transition to a green economy, guided by the vision of our country’s leaders and took off during the launch of the ‘UAE Green Growth Strategy’ initiative in January 2012 which was themed ‘A Green Economy for Sustainable Development’.”

Mohammad A. Abunayyan, Chairman of ACWA Power and Chairman of WGEO Private Sector Platform said: “One of the challenges of our time is to demonstrate the effectiveness of investments in the green economy as the ideal system for achieving sustainable economy and the perfect tool for achieving this vision and economic and social sustainability plans. The overall costs associated with this transformation show the urgent need to develop and create new financing mechanisms that are capable of meeting the needs and requirements of this system.”