As the Paris climate talks known as COP21 come into focus, we asked six regional leaders in the sector three questions:
• How could COP21 affect your company?
• Ideally, what would you like to see happen at the event?
• How is this COP different, in your opinion, than its predecessors?
Their answers below offer insight into the expectations and issues around the talks, which began on November 30 and are to end on December 11.
-------
Alexandre Mussallam is chief executive of Dubai-based Enova, formerly known as MAF Dalkia. Enova is a building energy services company Enova and is a joint venture between France’s Veolia and Majid Al Futtaim Ventures
How could COP21 affect your company?
No doubt that the expected actions from government officials and NGOs are high, but I personally believe that the major impacts will not derive from a binding agreement of world leaders, but from the building and asset owners, urban designers and developers, and any stakeholder, who supports climate change initiatives and prefers to partner with companies that bring innovative and sustainable solutions for their businesses.
Also a long-term policy framework, clear and ambitious targets and accountability that facilitates public-private partnerships and will promote the development of green cost-efficient solutions.
Our activities contribute to “Resourcing the World”, by preserving them. To give you an example, through innovative technical solutions, we have already committed to save over 200,000 tons of CO2 in the next six years, and I am sure this is just the beginning.
Ideally, what would you like to see happen at the event?
It is clear that the world needs resources for its development. I would like to see governments agree on pragmatic actions through clear long-term frameworks to use these resources in a more efficient way.
These actions should include the usage of renewable energies which are aligned with Veolia’s principles of circular economy and will contribute toward a low-carbon and more resilient economy.
We believe that we can contribute to resourcing the world through the recovering of water, waste and energy - what is discarded by some becomes a resource for others, which is made possible due to innovative and technological solutions, eco-design and new consumption patterns.
How is this COP different, in your opinion, than its predecessors?
We had put very high expectations in Copenhagen [site of COP15 in 2009] which did not materialise. But I believe that at the end, it prepared the terrain for a successful meeting in Paris this year. There are many factors that will contribute, such as the fact that many new strong economies have already set targets independently of global agreement and these targets will be taken into consideration.
In addition, the participation of the private sector - an example, we got involved, our Middle East entity has a solution, our Energy Saving Centre that will be presented by Veolia.
I am sure that there are many other factors such as the price of renewables (see example of concentrated solar power in the UAE recently) that will contribute and facilitate a global agreement which will support local frameworks to be implemented.
-------
Jo Rowbotham is chief executive of Bahrain-based tewhiti, a consultancy to help companies develop sustainable strategies
What does your company hope to gain at COP21?
I think there is already a benefit for all actors ahead of COP21, in regard to the analysis and thought that has gone into the preparation of the INDCs (Intended Nationally Determined Contributions). All of the GCC have submitted their INDCs and each provides a summary of projects already underway, and importantly national intentions for the period 2020-2030.
What would you like to see happen and how would it affect your business?
I really hope that an agreement is concluded at COP21 (accepting that many of the operational details will be decided during 2016 to 2020), and on three areas: capacity building, research, and technology transfer, I hope parties to COP21 put in place a simpler mechanism of criteria on access to financial and technical means. Such a mechanism would help us to scale clean energy technologies in the region. I also hope the agreement includes a revision process in order to make sure that the efforts from all NDCs will put us on track to meet the temperature goal. In this respect, NDCs could be revised as countries become more certain of the performance of clean energy technologies in this region for example, and can therefore quantify the resultant potential for additional emission reductions (ie raise the level of ambition).
How is this COP different than previous conferences?
COP21 will hopefully result in a legally binding and universal agreement (to follow on from the Kyoto Protocol from 2020), so there are high expectations and a lot of groundwork has taken place pre-COP.
-------
Reda El Chaar, chief executive at Access Power, a Dubai-based renewable energy financier
How could COP21 affect your company?
Access Power as a leading private sector player is contributing towards a sustainable and cleaner energy mix across the geographies where we operate. A successful COP21 resulting in clear and actionable climate policies will allow us to have a more significant impact through the wider adoption of clean energy solutions.
Ideally, what would you like to see happen at the event?
We would like to see leaders from the emerging markets such as Africa and Asia lead from the front and announce policies that help them harness their vast potential for renewable power while at the same time energising their economic expansion and ensuring their energy independence.
How is this COP different, in your opinion, than its predecessors?
We hope to see relevant and ACTIONABLE policies coming out of this COP.
-------
Lee Bremer is vice president of Operations of Yellow Door, a Dubai-based company providing financing for solar power systems.
Like many businesses in the renewables sector, and global citizens, we would like to see strong commitments on behalf of the world’s largest countries and a leaderships role taken by them to spur on investment and progress. A positive outcome to the talks will continue to reinforce that the world is moving away from fossil fuels and that global economies see an economic opportunity in doing so.
Countries are entering into the talks with a more collaborative approach than previous years. Rather than being at odds, which has happened in the past, developed countries and less developed countries are speaking about how they can work together. As an international business in the Middle East this is encouraging.
-------
Samir Safar-Aly is a Dubai-based associate specialising in financing mechanisms at the law firm Simmons & Simmons Middle East. He has written on environmentally friendly and socially responsible investment.
The COP21 summit represents the world coming together to address climate change and propose initiatives. I think the key aspect for the Middle East is momentum and timing. The importance of COP21, plus the exemplary targets that the UAE has imposed on itself for 2021 - which isn’t too far away when you think about it - emphasises the importance of COP21’s timing.
Abu Dhabi has undertaken a number of initiatives to address climate change and the groundwork is completed. COP21 is an opportunity for the UAE to further materialise its vision to become a green economy.
There could be a rise in companies coming here to partake in the renewable energy market. in projects such as the Mohammed Bin Rashid Al Maktoum solar park in Dubai. In the end, it’s a golden opportunity. Targets have been set and need to be met. How will the country meet those targets? Through wider stakeholder participation with international players. With the global size of unlabelled climate-aligned bonds estimated at over $530 billion and labelled green bonds at over $65 billion, the opportunities that we could see out of COP21 could pave the way for new financing opportunities. As one the world’s major capitals for Islamic finance and given that environmental consciousness is deeply entrenched within Islamic ethics and philosophy, Dubai could be the much awaited platform for a ‘green’ sukuk.”
-------
Francisco Silverio Marques is director – business development and marketing of Enova in Dubai.
How is this COP different, in your opinion, than its predecessors?
This COP shows the strongest involvement of the private sector ever. This demonstrates two things: that the private sector is part of the solution, and that the solution is interesting for the private sector.
A great illustration of this is the Energy Retrofit Program launched in Dubai by Dewa and Etihad Esco. The Energy Performance Contracts are managed by Etihad Esco, but the actual guaranteed savings are delivered by private Escos such as ourselves, who bear the final commitment. And the results are significant: the people we have trained, the process we have implemented, the tools we have developed, allow us to guarantee, in all the Energy Performance Contracts we signed this year, more than 30 per cent savings on water and electricity.
How could COP21 affect your company?
COP21 puts the light on the necessity of public and private entities to collaborate, and to commit on ambitious targets to drastically reduce the environmental impact of our activities. Enova, being a leader of Building Sustainability Services in the region, has the responsibility to seize this opportunity to show everything we can do to support the local authorities in achieving their ambitious targets, with the full support of our two shareholders, Majid Al Futtaim and Veolia.
Veolia will have a strong presence at the COP21, showcasing the best solutions the company has implemented around the world. Enova’s Energy Saving Centre is one of these selected solutions, and as such will be presented to the stakeholders in Paris. Therefore, COP 21 creates business opportunities for Enova in our markets, but also shows to the other countries how we are leading the way in reducing the environmental impact of buildings.
Ideally, what would you like to see happen at the event?
What we would like to see happen at the event, besides the obvious objective of all countries reaching an agreement on ambitious targets, and committing to it, is a clear roadmap on what will happen next and who will be responsible for implementing what. I would make the analogy with energy monitoring in an Energy Performance Contract. You need to know each hour of every day what your energy consumption is supposed to be in order to achieve your commitment at the end of the year, so that if you are drifting you can correct it immediately. Our journey to reduce the environmental impact of our activities must be similarly monitored in real time, so that we can immediately take corrective actions when needed, and ensure that we are always on track.
lgraves@thenational.ae
Follow The National's Business section on Twitter
