Green capital and digital transformation will be the focus of the World Green Economy Summit (WGES 2018) in Dubai in October.

The summit will tackle global issues and discuss strategies for building a ‘green’ and sustainable future growth across industries, said its organising committee.

WGES is set to take place on October 24 and 25 under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The summit is organised by Dubai Electricity and Water Authority (Dewa) and the World Green Economy Organisation (WGEO) in collaboration with international partners under the theme ‘Driving Innovation, Leading Change’, it said.

The event will focus on three main pillars, green capital, digital transformation, and leadership and social engagement. The event will gather financial executives, investment professionals, and thought leaders to discuss ways to increase green capital flows into regional and global environment-friendly projects and how to de-risk those investments, it added.

The summit will also focus on developing the digital economy and integrating it with the green economy. It will discuss the latest smart technologies and digital breakthroughs that promise to accelerate green growth and sustainable development, said a statement.

On leadership and social engagement, the event will examine the ongoing shift to a green economy – a phenomenon that many fears may lead to human insecurity and inequalities, job losses, and social deficits. Participating leaders and supporters of green innovation initiatives are expected to exchange knowledge and best practices to address the economic and social impact of these programmes.

Saeed Mohammed Al Tayer, vice chairman of the Dubai Supreme Council of Energy in Dubai, managing director and chief executive officer of Dewa, and chairman of WGES, said: “Holding the summit comes in line with the far-sighted vision of HH Sheikh Mohammed bin Rashid Al Maktoum to enhance sustainable development in the UAE as well as reinforcing Dubai’s position as a global capital of green economy.”

“The summit also forms a vital aspect of the UAE Centennial 2071 for the UAE to become the best country in the world in 2071; the UAE Vision 2021; the Dubai Plan 2021 and our continuous efforts to achieve the goals of Dubai Clean Energy Strategy 2050 that aims to provide 7 per cent of Dubai’s energy from clean energy sources by 2020, 25 per cent by 2030 and 75 per cent by 2050, not to mention the UAE Strategy for the Fourth Industrial Revolution that aims to achieve a competitive national economy based on knowledge, innovation and futuristic applications by integrating physical, digital and vital technologies,” he added.

Al Tayer continued: “New and advanced technologies are the key to a successful and genuine digital transformation and green economic growth. It is important therefore that all of us in the green economy to formulate major policies and frameworks encouraging relevant technological developments that will benefit society as a whole.”

“Focusing on three main pillars, Dewa and WGEO are organising the event to strengthen Dubai’s leading position as a global model for clean energy and green economy by using the disruptive technologies of the 4th industrial revolution, such as Artificial Intelligence (AI), UAVs, energy storage, blockchain, the Internet of Things and many more,” he added.

Abdul Rahim Sultan, director of WGEO, added: “The summit will be crucial to promoting the widespread acceptance and increased importance of the green economy in the context of sustainable development.”

“We are confident that the inputs from this year’s WGES will contribute to promote implementation of green economy policies at all levels, in a manner that endeavours to drive sustained, inclusive and equitable economic growth through providing us an interactive platform where we can share relevant best industry practices and latest innovations,” he said.

The UAE is the first in the Arab world and the region as per the index of realising global green economy and it is at the forefront of the green transformation and renewable energy. In this regard, Dubai has launched Mohammed bin Rashid Al Maktoum Solar Park, the largest single-site solar park in the world based on the Independent Power Producer model. Supporting the Dubai Clean Energy Strategy 2050, this ambitious project aims to transform Dubai into an international hub for clean and renewable energy, it stated. - TradeArabia News Service