On the 2nd day of the World Government Summit 2018, HE Saeed Mohammed Al Tayer, Chairman of the World Green Economy Summit (WGEO), met with Achim Steiner, Administrator of the United Nations Development Programme (UNDP). Both parties discussed ways to strengthen cooperation and exchange best practices and experiences in sustainable development, low-carbon green economy, and initiatives to protect the environment.
The meeting was attended by Waleed Salman, Vice Chairman of WGEO, Frode Mauring, UNDP Resident Representative to the UAE, and Abdul Rahim Sultan, Board Member of WGEO.
Al Tayer welcomed UNDP’s Administrator and congratulated him on his new post, wishing him success with his new tasks. The sides discussed boosting ties and cooperation in climate change and green economy, and public-private partnerships. Al Tayer presented Dubai’s successes in promoting sustainability and reinforcing its position as a global hub for green economy, and a role model for achieving the highest energy efficiency standards. This is achieved through plans and strategies including the Dubai Clean Energy Strategy 2050 to produce 75% of Dubai’s total power output from clean energy by 2050, the Demand Side Management Strategy to reduce demand on electricity and water by 30% in 2030, and the Carbon Abatement Strategy to reduce carbon emissions by 16% by 2021.
Al Tayer also talked about the launch of the AED100 billion Dubai Green Fund that encourages green investment and fosters green growth. He also highlighted Dubai Electricity and Water Authority (DEWA)’s partnership with National Bonds to launch the first green fund aggregating 2.4 billion dirhams. The fund will also be the first major green fund that will have a dedicated arm for Sharia compliant investments.
Steiner commended the strategic partnership between WGEO and UNDP in establishing the foundations for a green economy and strengthening Dubai’s position as a global role model for energy security and efficiency.