The Green Business Summit 2018 opened in Abu Dhabi yesterday (April 17) highlighting the significant opportunities and challenges faced by business leaders and policymakers in adopting sustainable development practices.

Charles Goddard, The Economist Intelligence Unit’s Asia-Pacific editorial director, welcomed attendees at the event organised by The Economist Events, part of the global English-language weekly newspaper, at the Rosewood Hotel.

Goddard said: “Sustainability and green business are the defining issues, the defining themes of our time. It has been roughly two years since the Paris Agreement when the world agreed to cap global emissions to limit climate change and global warming, and it has been two and a half years since the Sustainable Development Goals were ratified by the United Nations. These are rightly seen as seminal moments, a sea-change in our thinking on societies and development. Today we will be asking, how much progress has been made?”

Speaking on the subject of green business, Goddard added: “On the important transition of business, there has been some gathering progress in terms of sustainability. Corporate commitments have been made and are beginning to be met. However, despite these positive developments, progress remains fragmented and quite piece-meal. The task ahead is quite daunting.”

Speaking during the first business panel of the day, titled ‘From responsibility to leadership’, Razan Khalifa Al Mubarak, secretary general, Environment Agency - Abu Dhabi (EAD), commented on her Agency’s relationship with the business community: “I think we can do more with the private sector, which is why I am here today, it gives us at the Environment Agency a chance to better understand the needs and challenges faced by businesses.”

“It is one thing when government agencies are the only ones responsible for safeguarding the environment, and it is another thing when the private sector shares responsibility for monitoring its impact,” Al Mubarak said.

“Sharing the task of protecting the environment with the private sector increases awareness and understanding of environmental regulation and leads to better outcomes and a cleaner, safer environment for us all – this is one of the many ways we can move the needle from compliance to beyond compliance and towards innovation. At the heart of this transition are public-private partnerships, which enable continuous improvement and

kick-start innovation.”On the sidelines of the Summit, the Abu Dhabi Department of Economic Development (DED) and the Environment Agency Abu Dhabi (EAD) jointly announced the creation of the EnviroTech Awards, to be incorporated as a part of the Technology Innovation Pioneer (TIP) programme initiated by the Ministry of Economy and DED to accelerate the development of technology and innovation in Abu Dhabi and the wider UAE. – TradeArabia News Service