Dubai:The 12th World Green Economy Summit (WGES) will commence in Dubai on Wednesday, focusing on accelerating the transition to a sustainable economy, which has already reached an annual global value exceeding US$5 trillion and is expected to surpass US$7 trillion by 2030.
According to Emirates News Agency, the summit is scheduled for 21st and 22nd October under the theme 'From Success to Scale Showcasing the Green Economy.' It is organized by the Dubai Supreme Council of Energy, Dubai Electricity and Water Authority (DEWA), and the World Green Economy Organization (WGEO), under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai.
The event is set to attract over 3,300 attendees and more than 80 international speakers. Discussions will revolve around four main thematic pillars Energy Technology and Infrastructure, Business Strategy and Transition, Water and Food Security, and Finance. Three cross-cutting themes will also be explored Artificial Intelligence (AI), Governance, and System Enablers such as Supply Chains and Circular Economy.
The World Economic Forum (WEF) has observed that companies involved in green markets are experiencing revenue growth at a rate double that of conventional business lines. Additionally, the cost of solar photovoltaic (PV) technology and lithium batteries has dropped by approximately 90 percent since 2010.
Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, MD and CEO of DEWA, and Chairman of WGEO, stressed the need to scale solutions and accelerate their implementation. He highlighted the UAE and Dubai's successful translation of visions and strategies into tangible projects, citing the Mohammed bin Rashid Al Maktoum Solar Park, which aims to exceed a production capacity of 8,000 megawatts (MW) by 2030, up from its current capacity of 3,860MW. Clean energy now accounts for over 21.5 percent of DEWA's total production capacity.
The summit will also address regional and global climate action developments, noting that the operational renewable energy capacity in the Middle East and North Africa (MENA) reached 43.7 gigawatts (GW) by the end of 2025, reflecting a growth of approximately 44 percent. The project pipeline has reached around 202GW.
Despite global climate finance surpassing US$2 trillion, at least US$6.3 trillion in annual climate investment is necessary until 2030 to mitigate the worst effects of climate change. Prominent speakers, including Eng. Aisha Al Abdooli and Syed Adeel Abbas, have highlighted the significance of sustainability and mobilizing private capital and sustainable finance. Joan Larrea emphasized the Gulf economies' potential in harnessing blended finance.
For further information and registration, visit www.wges.ae.