The 11th World Green Economy Summit (WGES) continued today. It is organised by the Dubai Supreme Council of Energy, Dubai Electricity and Water Authority (DEWA), and the World Green Economy Organization (WGEO), under the theme ‘Innovating for Impact: Accelerating the Future of the Green Economy’ The second day began with a main plenary session titled ‘Loss, Damage and Recovery: Navigating the Complexities of Climate Change Impact’. Speakers included HE Dr Muaviyath Mohamed, Minister of State for Tourism and Environment in the Maldives; Dr Samira Barzin, Senior Researcher and Policy Adviser at the University of Oxford’s Environmental Change Institute; Prof Nazia Habib from the Centre for Resilience and Sustainable Development at the University of Cambridge; and Naila Farouky, CEO of the Arab Foundations Forum. The speakers addressed the intensifying climate risk—sea-level rise, extreme storms, heat stress, coastal erosion, and ecosystem loss—pushing many low-lying areas toward uninhabitability. They said adaptation requires resilient infrastructure, coastal protection, ecosystem restoration, and an energy transition, but hinges on accessible finance. Panellists urged replacing voluntary pledges with mandatory, transparent flows tied to parametric triggers and community-level payouts. They called for governance that trims bureaucracy, standardises eligibility, and mandates climate-risk integration in national budgets and investment appraisals. The speakers stressed data capacity geospatial/AI tools, digital twins, and early-warning systems—for real-time monitoring, relief, and accountability, and said philanthropy should fund readiness and grassroots resilience to unlock larger financing via robust pipelines.
The summit also hosted a high-level session on NDCs Implementation, which saw the participation of HE Dr. Ayman Suleiman, Minister of Environment, Jordan; HE Hambardzum Matevossian, Minister of Environment, Republic of Armenia; HE Roberto Mito Albino, Minister of Agriculture, Environment, and Fishery, Mozambique; HE Abubakar Ben Mahmoud Minister of the Environment, in charge of Tourism , Comoros; and HE Dr. Muaviyath Mohamed, Minister of State for Tourism and Environment, Maldives. The ministers emphasised on accelerating third-generation NDCs through practical ambition, partnerships, and finance. They highlighted shared MENA/SIDS challenges—water stress, weak grids, and climate shocks—while urging public-private collaboration, technology transfer, and capacity building. Comoros, a carbon sink, targets a 23% GHG cut and 47% higher CO₂ sequestration by 2030, with measures costed at Euro 767 million; it cited 6 kWh/m²/day solar potential and 15–20 MW geothermal. Mozambique is revising laws, planning land use, and balancing adaptation/mitigation amid recurring floods and droughts. Maldives, emitting just 0.004% globally, pledged 33% renewable electricity by 2028, advancing grid upgrades, storage, and open-sea floating solar, while calling for scaled, predictable finance.
The summit then hosted a session titled ‘Financing the Green Transition: Aligning Private Sector and International Climate Commitments’, featuring Mohammad Junaid Essa, Head of Governance and Sustainability at the Securities and Commodities Authority; HE Lucie Berger, EU Ambassador to the UAE; and Rahul Ghosh, Global Head of Sustainable Finance at Moody’s Ratings. The speakers emphasised the urgent need to scale up climate finance and reform systems from donor-driven to country-led approaches. They highlighted the role of the EU as the largest public climate finance provider, calling for enabling frameworks, stronger project pipelines, green bonds, risk-sharing tools, and deeper dialogue. They also noted a USD 2.4 trillion annual investment gap, stressing blended public–private finance and careful credit risk analysis as companies transition. The session also outlined the Securities and Commodities Authority’s journey from financial disclosures to mandatory ESG and green bond regulations, supporting carbon markets and gender diversity. The speakers agreed that collaboration, credible transition plans, and innovation are key to bridging gaps and attracting sustainable investment.
In Breakout 1, Adri Pols, CEO of Desolenator; Rhana Kurdi, founder and CEO of Skydrops Sustainable Water Technologies; and Dr Tarifa Al Zaabi, Director General of the International Center of Biosaline Agriculture, took part in a session titled ‘Food and Water Scarcity: Tackling Climate-Induced Challenges’. The discussion highlighted water as the most undervalued yet vital resource, deeply linked to climate stress, agriculture, and energy demand. Traditional desalination methods cause greenhouse emissions and toxic brine, worsening marine and environmental stress. Newer sustainable approaches use renewable heat, atmospheric water generation, and decentralised systems to provide clean, re-mineralised water without heavy reliance on fossil fuels. Experts stressed the need for diversified water sources, integration of energy and water cycles, and pricing reforms to incentivise efficiency. Governments must create supportive regulations and foster innovation from startups. The overarching message: water security is central to global stability and human well-being.
This was followed by another main plenary session titled ‘Gen Z calls for Conscious and Sustainable Capitalism’, with the participation of Beniamin Strzelecki, Member of the Youth Advisory Group on Climate Change, and Hoor Ahli, a social research and public policy student at New York University Abu Dhabi and COP28 UAE Youth Climate Delegate. The session spotlighted Gen Z’s expanding role in climate action, which includes bringing fresh, policy-literate ideas and demanding inclusive platforms. Speakers highlighted COP30’s Amazon setting as a chance to turn pledges into on-the-ground action, and praised whole-of-society mobilisation models seen since COP28 in the UAE. They noted rapid renewable growth, while urging a pragmatic balance with remaining fossil needs. They stated that a major barrier is green finance, especially in emerging markets, requiring de-risking, multilateral support, and government-to-government collaboration.
The Roundtable Meeting Hall also hosted a showcase of climate initiatives in Africa and the Middle East.
This was followed by a keynote speech titled ‘How Trade can Drive the Global Green Economy’, delivered by HE Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of Foreign Trade, who said: “Green solutions are powerful catalysts for the growth that not only make sense environmentally and socially, but that the technology improves and efficiencies scale financially as well. And just as every sector stands to benefit, every sector must also contribute. While trade can empower the green economy, it must also evolve to become a sustainable sector itself. This means deploying clean fuels from the truck sites to end-users, whether it's hydrogen-powered trucks and cargo ships to solar-powered coal-storages. It also means using the latest technologies to enhance supply chain efficiency, such as blockchain custom procedures and AI and road optimization and inventory management.”
Discussions turned to the critical role of leadership in driving major transformations, during a session titled ‘Leading Change for Impact’ that featured Craig Preston, CEO of Ducis Advisors, in association with the Sandhurst Trust, who said: “Energy transition wins aren’t born from announcements—they’re earned through disciplined leadership. Set an urgent, clear vision, build a guiding coalition, over-communicate, and stay visibly present. Accept short-term dips to accelerate long-term gains, bank quick wins without declaring victory, and invite honest challenge—not yes-men. Use AI to inform, not replace, the human duty to serve people.”
A session titled ‘The Business Case for Renewables’ was held during the main plenary session, featuring Samir Oumer, UAE Country Chair at TotalEnergies; Dr Waleed Alnuaimi, CEO of Etihad Energy Services; Hakan Ozdemir, CEO for Smart Infrastructure at Siemens Middle East; and Mario Saab, Head of Sustainability at Cundall. The session highlighted that national net-zero targets and rising energy demand make clean power both a sustainability necessity and a driver of cost reduction. They pointed to key hurdles such as high upfront capital needs and the challenge of integrating intermittent resources into critical operations and grids. Speakers discussed solutions like performance-based financing, combining renewables with firm power, storage, and advanced grid software, and strengthening cybersecurity. They also emphasised AI and IoT for better forecasting, efficiency “quick wins” in buildings and industry, stable returns from PPAs, and the importance of full value-chain participation and public-private partnerships, supported by favourable regional regulation enabling smarter, data-driven infrastructure.
Breakout 1 also hosted a panel discussion titled ‘Voluntary Carbon Markets: A Path to Net Zero or a Double-Edged Sword?’, in which Garrett Boudinot, founder and CEO of Vycarb; Neeshad Shafi, Manager of Stakeholder Engagement at Offset8 Capital; and Sonia Battikh, Global Head of Carbon Offsets Trading at Citi Group, participated. The speakers capitalised that Voluntary carbon markets should complement, not replace, deep decarbonisation—covering residual emissions while industries cut their own. With global emissions likely peaking around 2035–40, multiple pathways are urgently needed now. Nature-based offsets deliver social co-benefits but face permanence and measurement concerns; engineered removals promise higher durability, tighter MRV, and faster scaling, though energy use and lifecycle impacts must be addressed with renewables and rigorous assessment. Market credibility hinges on unified standards, while Financing, partnerships, and compliance incentives drive uptake; GCC adoption and engineered credit supply are growing rapidly.
Jessica Cheam, founder and CEO of Eco-Business; Jaison John, Partner at Avia & Co; Mohamed Ali Eldabaa, Regional Director for Government Affairs and Public Policy Middle East at Procter & Gamble and Chairman of the UAE’s Circular Packaging Association; and Zoë Knight, Global Head of Sustainability Research and Integration at HSBC Bank Middle East Limited, discussed strategies for adapting to evolving climate policies during a main plenary session titled ‘Green Pushback: Navigating Shifting Climate Policy Across Markets’. The speakers highlighted how rapidly changing climate regulations are reshaping business environments worldwide. They emphasised the importance of resilience and flexibility in adapting strategies, noting that policy shifts can create both risks and opportunities for companies operating across different markets. The discussion underscored the need for proactive engagement with regulators, transparent reporting, and innovative approaches to remain competitive while advancing sustainability commitments in the face of evolving climate policies.
The session, titled ‘Leveraging Artificial Intelligence to Advance Climate Action’, featured Jessica Scopacasa, co-founder and Chief Marketing Officer of Olive Gaea; Dr Amalia Pantazidis, President of Lummus Consultants; Sandeep Chandna, Chief Sustainability Officer of Tech Mahindra; and Anand Verma, founder and CEO of Expect AI. The session emphasised AI as a transformative force in accelerating decarbonisation and sustainability. It enables faster ESG reporting, scope 3 emissions tracking, and predictive risk assessments that once took months. In energy and heavy industry, AI optimises grids, integrates renewables, manages storage, and equips processes with “brains” for efficiency, reducing emissions and waste. It supports digital twins, predictive maintenance, and knowledge transfer for aging workforces. For SMEs, AI lowers entry barriers, linking climate action to ROI and resilience.
The closing session titled ‘Launch of Climate Ambition 2025’, saw a keynote speech by Jérôme Auchèr, Iterim Senior Director at the Global Compact Network UAE, who said: “The UAE has set clear targets, net zero by 2050, and this is a strong signal that sustainability isn't optional. Businesses play a central role in making this goal achieved. We all have a part to play in whether it's reducing emissions, improving efficiency, or working with our partners in supply chain to make change happen. By working together, sharing insights, and learning from each other, we can move faster and smarter.”
The session further highlighted the urgent need to move from climate commitment to measurable action. It also stressed that climate change is both a risk and an opportunity, urging businesses to set ambitious, science-based targets, embrace innovation, and collaborate across sectors. The session further emphasised awareness, policy alignment, and collective ambition as essential drivers of impact.
The summit concluded at 5:30pm after a rich day of discussions and interactive sessions that brought together an elite group of experts and decision-makers from around the world. The diverse sessions on Day 2 reflected the summit’s commitment to presenting a comprehensive vision on climate, finance and sustainable development issues, with a focus on enhancing international co-operation and harnessing both youth potential and technology to build a more sustainable and just future.
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