Context: Recently, the World Green Economy Forum, launched in Dubai under the patronage of Sheikh Mohammed bin Rashid Al Maktoum, focused on global cooperation for climate action and innovative solutions, addressing topics such as decarbonizing energy-intensive industries and the role of AI in sustainability.
About World Green Economy Summit
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The World Green Economy Summit (WGES) is organised by Dubai Electricity & Water Authority (DEWA), the World Green Economy Organisation (WGEO) and the Dubai Supreme Council of Energy.
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It is one of the leading global forums on green economy, bringing together world-class experts in critical sectors from around the world to directly focus on advancing the global green economy and sustainability agenda, achieving the UN Sustainable Development Goals.
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Aim: To promote global cooperation, innovation, and sustainable practices across energy, decarbonization, climate finance, and more. The forum’s goal is to drive positive transformation towards a net-zero future.
Key Features of World Green Economy Forum 2024
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Sessions on decarbonization in heavy industries, use of AI for sustainability, and the role of youth in climate action.
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A focus on the future of Sustainable Aviation Fuel (SAF), aiming for 300 million tonnes production by 2050.
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Emphasis on public-private partnerships and philanthropy to drive climate solutions.
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Panels on renewable energy, power grid challenges, and carbon footprint management.
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This forum aligns with global climate goals, such as the Paris Agreement, and encourages collaboration between governments, industries, and civil society for sustainable development?
Key outcomes
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National green economy strategies: Member states will develop national green economy strategies.These includes National Hydrogen Strategy that calls for producing 1.4 million tonnes of low-emission hydrogen per annum by 2031 and increasing production to 15 million tonnes annually by 2050.
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Global transition to a green economy: These include tripling our renewables capacity by 2030, growing our clean energy capacity to 19.8 GW by 2030 and increasing the share of installed clean energy capacity to 30% by 2030.
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Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs): Commitments were reinforced to align these with the Paris Agreement.
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Climate finance initiatives: Cooperation was agreed on to advance these initiatives.
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Circular economy: The role of the circular economy in promoting sustainable development was explored.
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International collaboration: The need for strong foundations in finance, technology, and capacity-building to achieve shared global goals was emphasized.
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Climate action: Climate action was recognized as a historic opportunity for economic growth.
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Youth: The critical role of youth in shaping a sustainable future was emphasized.
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Advancing global action towards a more sustainable future: “At Expo City Dubai, we are committed to setting new standards in sustainable development, actively supporting our nation’s net-zero targets as we transform from hosts of the World Expo and COP28 into a vibrant community that balances the needs of people and businesses with environmental stewardship.