The 10th World Green Economy Summit (WGES), organised by the Dubai Supreme Council of Energy, DEWA, and WGEO, focuses on climate finance as a core theme. Recognised as essential for enhancing climate resilience, this topic will be discussed by global leaders, experts, and specialists in green finance.
Amid escalating global climate challenges, climate finance is increasingly critical, especially for vulnerable countries. Adequate funding supports mitigation and adaptation efforts, enabling these nations to manage climate impacts and pursue sustainable development. According to the Climate Policy Initiative, global investments in climate projects reached USD 1.3 trillion between 2021 and 2022, but these need to increase fivefold to meet the Paris Agreement’s 1.5°C target. The UAE is leading efforts to mobilise climate finance through international initiatives promoting environmental sustainability and the green transition.
Building on COP28 outcomes, WGES 2024 stresses climate finance as a tool for creating a resilient and equitable future. Saeed Mohammed Al Tayer, Chairman of WGEO, highlighted the UAE’s efforts, including the AED 92B ALTERRA Fund to support climate investments, with AED 18B allocated to vulnerable nations.
Dr Waleed Alnuaimi, CEO of Etihad Energy Services, emphasised Dubai’s push towards carbon neutrality through innovative energy solutions, reducing commercial buildings’ carbon footprints by 35%. Florence Bulté, Chief Sustainability Officer of Chalhoub Group, underscored the importance of circularity in the fashion industry, aiming for Net Zero by 2040.
