Global alliance on green economy launched at Dubai summit

The coalition will address pressing issues such as food security and carbon markets to accelerate energy transition

The global alliance on green economy was launched at the World Green Economy Summit in Dubai on Wednesday. Photo: Dewa

A global alliance to build a coalition of countries with climate action and sustainable development as priorities was launched at the World Green Economy Summit in Dubai on Wednesday.

The alliance, launched during a high-level meeting with about 25 ministers and officials, aims to enhance the capacity of developing countries, provide support for their green economy transition projects and exchange knowledge on implementation, the Dubai Water and Electricity Authority (Dewa), the event's organiser, said in a statement.

Participants included ministers from India, Syria, Sri Lanka, Sudan, Mauritius and Somalia, among others.

“Advancing the green economy requires international co-operation, guaranteeing a new approach and a stable partnership among all stakeholders globally,” said Saeed Al Tayer, chairman of the World Green Economy Organisation (WGEO), and managing director and chief executive of Dewa.

“Linking the Paris Agreement goals and its corresponding articles, as well as the 2030 Agenda for Sustainable Development with climate planning and climate finance, are key synergies in this transition. We truly believe this harmonisation to be essential in the lead-up to Cop27 and Cop28 in Egypt and the UAE, respectively.”

The summit coincides with the UAE's efforts to adopt green energy and strike a balance between economic growth and the sustainable use of environmental resources.

The Emirates in 2016 became the first Middle East nation to sign the Paris Agreement, which calls for global warming to be limited to well below 2°C, preferably 1.5°C, compared with pre-industrial levels.

The UAE has also pledged to achieve net-zero carbon emissions by 2050 in line with the targets of the Paris Agreement.

The country has also committed $400 million to enable the transition to clean energy for developing nations, and to raise $4 billion to invest in technologies that will transform agriculture and food production to limit climate change.

“For us in the UAE, pioneering the adoption of green economy principles and practices within sustainable development, resilience to climate change and poverty eradication are paramount,” Mr Al Tayer said.

“We have embarked on a journey to be a global hub and effective example of a new green economy that can achieve economic sustainability while protecting the environment for future generations.”

Mr Al Tayer commended the commitment of the participating countries in the alliance and their efforts towards the global transition to a green economy.

Work under the alliance will address pressing issues such as food security and carbon markets and how co-operation can be increased, the statement said.

“This global alliance is not the outcome but the first milestone towards important work ahead. We will now be engaging with countries to identify their needs, priorities and challenges in the context of the green economy during the next three months,” Mr Al Tayer said.

A multi-stakeholder exercise and inclusive consultation with countries will lead to the launch of a “suite of flagship projects” by WGEO to support the green economy agenda in the countries joining the alliance.

“Our ability to accelerate the transition towards a green economy depends on enhancing the pace of global joint work. This requires a unified platform with common goals that can enhance this co-operation,” said Mariam Almheiri, Minister of Climate Change and Environment.

“Such alliances contribute to the comprehensive implementation of the green recovery agenda, which supports developing countries to contribute effectively to achieving low-carbon balanced development. This, in turn, contributes to combating climate challenge and achieving net-zero targets by the middle of the century.”