Page 785 - MOE ENGLISH PR REPORT - OCTOBER 2024

10/16/24, 10:28 AM World Green Economy Summit 2024 concludes
Green Economy Summit (WGES) and launching WGEO, which works in close co-operation with
the UAE Government as part of the Global Alliance on Green Economy (GAGE) to promote
collaboration among member countries and stakeholders.

Al Tayer also thanked H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme
Council of Energy, for inaugurating the summit, which was organised by the Dubai Supreme

Council of Energy, DEWA and WGEO. The summit saw the participation of a large number of
current and former heads of state, ministers, government representatives, officials, experts and
specialists from around the world.

"The World Green Economy Summit has become one of the foremost global platforms dedicated to
advancing the green economy globally. The summit reinforces the UAE's pioneering and leading

role in mobilising global efforts to enhance climate action and address sustainability challenges. We
are pleased with the success of the summit's 10th edition, which served as a valuable forum for all
stakeholders to discuss policies, plans and strategies, as well as share experiences, knowledge and
innovative ideas that strengthen co-operation and support efforts to balance economic growth and
environmental sustainability, supporting the transition to a sustainable green economy and

contributing to achieving the UN Sustainable Development Goals 2030," Al Tayer said.

Al Tayer said that this year's summit was an opportunity to showcase the pioneering efforts of Dubai
and the UAE in balancing economic growth and environmental protection, and expanding
investments in renewable and clean energy solutions. The summit built upon the outcomes of

COP28, which was hosted by the UAE in Dubai last year.

Through its sessions and key takeaways, WGES contributed to setting the stage for COP29, which

will be held in Azerbaijan in November. This is part of WGES' efforts to foster dialogue and co-
operation among world countries in the areas of sustainability and the green economy.

Dr. Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and COP28
President, said, "Under the leadership of President His Highness Sheikh Mohamed bin Zayed Al
Nahyan, COP28 brought the world together last year to deliver the historic UAE Consensus - the

defining point of reference for global climate ambition and sustainable development. While climate
action has been seen too often as a burden to nations, we set out to change the narrative and present
it as a historic opportunity for growth and innovation - in fact, the largest economic opportunity
since the first Industrial Revolution. The transition to a green economy will enable us to fast-track

new streams of growth, create new jobs and deliver sustainable prosperity for all."

Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, said, "Clean energy is a
main requirement to build a robust green economy. So, we updated the UAE Energy Strategy 2050
with higher, more ambitious targets. These include tripling our renewables capacity by 2030,
growing our clean energy capacity to 19.8 GW by 2030 and increasing the share of installed clean
energy capacity to 30 percent by 2030. We also launched the National Hydrogen Strategy that calls

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