World Green Economy Summit hosts high-level of ministerial roundtable

Gulf Today, Staff Reporter

Saeed Mohammed Al Tayer, Chairman of the World Green Economy Organization (WGEO), delivered the opening address at the high-level roundtable hosted by WGEO on the first day of the 10th edition of the World Green Economy Summit (WGES).

The meeting featured Surangel Whipps Jr., President of Palau; Dr. Amna Bint Abdullah Al Dahak, UAE’s Minister of Climate Change and Environment; Abdulla Balalaa, Assistant Minister for Energy and Sustainable Affairs at UAE Ministry of Foreign Affairs; Dr. Mahmoud Fathallah, Director of the Department of Environmental Affairs and Meteorology, and Head of the Technical Secretariat of the Council of Arab Ministers.

Representatives from the United Nations Framework Convention on Climate Change also participated, along with ambassadors and delegates from the 86 member states of the Global Alliance on Green Economy (GAGE). The gathering included ministers and officials dedicated to advancing the global transition to a green economy, providing a platform for discussions on key issues and pillars linking climate action and sustainable economic development.

In his keynote address, Saeed Mohammed Al Tayer welcomed the participants and expressed his gratitude for their presence and active participation. Al Tayer emphasised that this gathering aligns with the visionary leadership of His Highness Sheikh Mohamed Bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, which aims to advance the green economy, tackle global climate change, and limit global warming.

“The climate crisis has undeniably escalated to unprecedented levels, with its impacts extending far beyond environmental challenges to affect the wellbeing of millions worldwide. Amidst these global challenges, the UAE remains steadfast in fulfilling its climate commitments under the Paris Agreement. The UAE is pursuing the ambitious goal to limit global warming to 1.5 degrees by aligning its Nationally Determined Contributions (NDCs), National Adaptation Plans (NAPs), and other climate policies. These efforts are embodied in the UAE’s Net Zero 2050 Strategic Initiative, a landmark in the country’s journey towards comprehensive climate action. COP28, hosted by the UAE in November-December 2023, was one of the best editions and marked the historic UAE Consensus.

His Highness Sheikh Mohammed Bin Zayed Al Nahyan, President of the UAE, announced that the UAE has invested more than $50 billion in renewable energy projects, with plans to invest a minimum of $50 billion over the next decade. With the historic UAE Consensus, nearly 200 nations reaffirmed their commitment to ambitious climate goals. This milestone represents a significant step toward reducing global dependence on fossil fuels. The Consensus established ambitious targets to triple renewable energy production capacity and double annual improvements in energy efficiency by 2030. These objectives will accelerate the transition away from fossil fuels while promoting the deployment of emerging technologies such as low-emission hydrogen and carbon capture,” said Al Tayer.

“The 10th edition of the World Green Economy Summit, held under the patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, offers a unique opportunity to build momentum toward COP29, to be held in Baku, Azerbaijan. Our discussions today will help shape the global agenda and advance progress in the green economy and climate action. We are confident that international cooperation is essential to success, and the Global Alliance on Green Economy (GAGE) serves as a vital tool in fostering cross-border partnerships and collaboration across various sectors. Today’s meeting marks a pivotal moment for the future of our planet and a crucial step in our efforts to explore new pathways towards a green economy, which stands as a cornerstone of sustainability and a key driver of prosperity and development worldwide. I eagerly anticipate hearing your valuable insights and experiences, and I look forward to working together to develop innovative, actionable solutions that will help us achieve our shared climate goals and ambitions,” added Al Tayer.

Al Tayer stated that The World Green Economy Organization (WGEO), in collaboration with the UAE Government and as part of the GAGE initiatives, organised this ministerial session, which is co-chaired by COP29. GAGE was launched during the Ministerial Roundtable on Green Economy at WGES 2022, with the aim of supporting countries in their transition to a green economy. Through technical assistance, GAGE facilitates a platform to match projects, enhance knowledge exchange between nations, and foster cooperation to ensure that all parties have the resources needed to meet their mitigation and adaptation commitments. To date, 86 countries have joined this alliance, and Al Tayer urged other countries to join for the benefit of all.

“As the working group of global economic experts sets the foundation for COP29, this Ministerial Roundtable session provides a crucial platform to address cross-cutting themes tied to the two main pillars of COP29’s vision: promoting ambition and enabling action, with climate finance as a key priority. The session focuses on how the green economy can drive progress and contribute to the achievement of the 2030 agenda goals. This initiative adds significant value to the member states of GAGE, as it will strengthen their participation in COP29 in Baku,” continued Al Tayer.

“This ministerial session will contribute to focusing on strengthening partnerships with the private sector and building human capacities to keep pace with changes, in addition to introducing technology to raise efficiency and employing artificial intelligence, which is one of the main drivers of the Fourth Industrial Revolution, to increase efficiency and effective work to mitigate and adapt to climate change. It will ensure that all parties, particularly developing countries, have the necessary capabilities and tools, to adopt national green economy strategies. Together, we aim to build a resilient, just, and inclusive future for all,” concluded Al Tayer.

The ministerial session featured critical discussions on the role of the green economy in achieving the objectives of the historic UAE Consensus, achieved during COP28, which aims to accelerate the transition to renewable energy and improve energy efficiency. The session produced several key outcomes, most notably the adoption of the development of national green economy strategies for member states, reinforced commitments to align Nationally Determined Contributions (NDCs) and National Adaptation Plans (NAPs) with the Paris Agreement, cooperation on advancing climate finance initiatives, and exploring the circular economy’s role in promoting sustainable development. Participants also emphasised the need to establish strong foundations for international collaboration in finance, technology, and capacity-building to achieve shared global goals.