Dubai Supreme Council of Energy has launched the State of Green Economy Report 2016 at the World Climate Summit 2015 (COP21) in Paris, France.

Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy handed a copy of the report to Ólafur Ragnar Grímsson, President of Iceland.

The report demonstrates the commitment of the United Arab Emirates and Dubai to develop and implement green initiatives across all sectors, making a strong case for a green transition to a robust low-carbon economy that is strongly aligned to the UN Climate Agreement 2015.

To mobilise the UAE’s transformation into a green economy, the State of the Green Economy Report 2016 provides an overview of initiatives that promote innovation and policy tools that help accelerate the process.

The report underlines the efforts made to encourage and enable different sectors to participate in the transition towards a green economy. It serves as a roadmap to establish new, impact-based and market-driven paradigms to decarbonise the power sector and stimulate the market for energy efficiency. The report emphasises that knowledge leads to lasting impact and helps refine strategies. It provides cutting-edge information to both policymakers and practitioners.

The Dubai Clean Energy Strategy 2050 has a target of 75 per cent of all Dubai’s total power output being sourced from clean energy by 2050, said Al Tayer.

Dubai Clean Energy Strategy aims to provide 7 per cent of Dubai’s energy from clean energy sources by 2020. This target will increase to 25 per cent by 2030 and 75 per cent by 2050. It consists of five main pillars, Al Tayer explained.

“The first, Infrastructure, includes initiatives such as the Mohammed bin Rashid Al Maktoum Solar Park, which is the largest single-site project to generate electricity from solar energy in the world, with a planned capacity of 5,000 MW by 2030, and total investment of $13.6 billion (Dh 50 billion). The remaining pillars cover legislation, funding, building capacities and skills, and an environmentally-friendly energy mix,” he added.

“While many around the world talk about adopting a green economy, Dubai is among the first to have joined with the world to curb its carbon footprint and combat climate change, and is already leading by example. Our strategy involves moving from a carbon-intensive economy to a greener one, by the Dubai Green Fund, which is worth $27 billion, encouraging green investment and green growth.

“We are here today, to reinforce our commitment to forming a combined declaration, calling for commitment to a series of concrete actions within the framework of the Road to Paris 2015. Dubai remains firmly committed to these actions and that of the UAE to provide real value to the world. In 2011 we launched Dubai’s Integrated Energy Strategy 2030, which focuses on energy security by diversifying the energy mix, to decrease our dependence on natural gas.

“The strategy also focuses on reducing electricity and water demand by 30 per cent by 2030, with a dedicated Demand Side Management Strategy, and the region’s first dedicated Carbon Abatement Strategy to reduce carbon emissions by 16 per cent by 2021. The UAE is one of the first countries to have endorsed the extension of the Kyoto Protocol in 2005, to limit greenhouse gas emissions in industrialised countries.

“We are the first in the Arabian Gulf to sign the Copenhagen Accord at COP15, to support a long-term agreement to reduce emissions. In the same year, we established The Dubai Carbon Centre of Excellence in collaboration with the United Nations Development Programme. Dubai Carbon specialises in the Clean Development Mechanism, and applying best practices in reducing emissions in the Emirate of Dubai,” Al Tayer said. – TradeArabia News Service