World Green Economy Summit 2024: Green Economy Initiatives

The World Green Economy Summit (WGES) 2024, held in Dubai, UAE, aims to promote global cooperation, innovation, and sustainable practices. It focuses on energy, decarbonization, climate finance, and youth involvement, aligning with COP28 outcomes and the UAE Consensus.

Overview and Objectives of WGES 2024

WGES 2024 held in Dubai, UAE, on October 2nd and 3rd, 2024
Theme: "Empowering Global Action: Unlocking Opportunities and Advancing Progress"
Aims to promote global cooperation, innovation, and sustainable practices
Focuses on energy, decarbonization, climate finance, and youth involvement
Aligns with COP28 outcomes and the UAE Consensus
Supports the newly established Troika (UAE, Azerbaijan, Brazil) for enhancing NDC implementation
Serves as a platform to prepare for COP29 in Azerbaijan

Key Features and Discussions

Sessions on decarbonization in heavy industries
Exploration of AI applications for sustainability
Focus on Sustainable Aviation Fuel (SAF), targeting 300 million tonnes production by 2050
Panels on renewable energy, power grid challenges, and carbon footprint management
Emphasis on public-private partnerships and philanthropy for climate solutions
Showcases UAE's innovative approaches to balancing economic development and environmental conservation
Discussions on expanding investments in renewable and clean energy solutions

High-Level Participation and Support

Attended by current and former heads of state, ministers, government representatives, and experts
Supported by UAE leadership, including President Sheikh Mohamed bin Zayed Al Nahyan
Sponsored by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE
Inaugurated by Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy
Organized by Dubai Supreme Council of Energy, DEWA, and World Green Economy Organisation (WGEO)

UAE's Commitments and Initiatives

Sultan bin Ahmed Al Jaber, COP28 President, highlighted the UAE Consensus as a reference for global climate ambition
Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, outlined UAE's updated Energy Strategy 2050:
- Tripling renewables capacity by 2030
- Growing clean energy capacity to 19.8 GW by 2030
- Increasing clean energy share to 30% by 2030
National Hydrogen Strategy aims for 1.4 million tonnes of low-emission hydrogen by 2031, increasing to 15 million tonnes by 2050
Reem Al Hashimy, CEO of Expo City Dubai Authority, committed to setting new standards in sustainable development
Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, emphasized UAE's role in championing green economy opportunities

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