Under the auspices of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, the World Green Economy Summit (WGES), initiated a decade ago, has firmly established itself as a pivotal force in advancing sustainable development objectives and the shift towards a green economy.
The summit has effectively mirrored the UAE’s prominent and unwavering support for global climate action.
WGES is coordinated by the Dubai Supreme Council of Energy, Dubai Electricity & Water Authority (DEWA), and the World Green Economy Organisation (WGEO). It serves as a pioneering platform that convenes leading experts and specialists across various critical sectors from around the globe.
The summit promotes the exchange of ideas and experiences, and facilitates the collaboration of policymakers and stakeholders in the energy, economic, and climate sectors. It offers innovative solutions and pioneering practices that drive positive transformation and convert challenges into opportunities, aligning with the UN Sustainable Development Goals for 2030.
The 10th edition of WGES will take place on 2nd and 3rd October 2024 at the Dubai World Trade Centre, under the theme ‘Empowering Global Action: Unlocking Opportunities and Advancing Progress’. It will highlight several key themes, including decarbonization, advancements in clean energy (including green hydrogen and energy storage), climate finance, circular economy, leveraging technology to combat climate change, youth involvement in climate action, and issues concerning food and water.
Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy, MD&CEO of DEWA, and Chairman of WGEO, emphasised that WGES 2024 will build upon the themes and objectives of the previous nine editions, aiming to provide sustainable global solutions that contribute to achieving a balance between economic development and environmental protection. The summit supports the transition to a green economy, achieving net-zero emissions, and enhancing international cooperation across relevant sectors.
Al Tayer stated that the 10th WGES will host ministers, decision-makers, CEOs, senior officials from both government and private sectors, and representatives of non-governmental organisations worldwide. They will discuss strategies to advance the green economy, promote effective cooperation in innovation, technology, and green finance, and harness fruitful partnerships between the public and private sectors to bolster sustainable development efforts.
Achievements Over the Years
9th WGES 2023
The 9th WGES in 2023 gathered a diverse group of stakeholders, empowering developing regions and promoting global cooperation and public-private partnerships. It focused on the UAE’s priority areas for COP28, hosted the previous year, encompassing mitigation, adaptation, finance, and addressing loss and damage across key pillars.
These included the green policy pillar, centered on the global stocktake, global carbon market, national and corporate strategies for sustainable development goals, and policies for an equitable green transition. The green finance pillar focused on securing financing access in low- and middle-income countries, reducing investment risks, financing technology, global economic landscapes, and private sector solutions.
WGES 2023 also marked the signing of a Memorandum of Understanding (MoU) between the World Green Economy Organisation (WGEO) and the United Cities and Local Governments of Africa (UCLG Africa), aimed at promoting sustainable development and green initiatives across the African continent. Additionally, WGEO announced during this edition that 86 countries had joined the Global Alliance on Green Economy (GAGE), while the Dubai Supreme Council of Energy launched the 5th Emirates Energy Award (EEA) 2023-2025.
8th WGES 2022
The 8th WGES in 2022 was themed ‘Climate Action Leadership through Collaboration: The Roadmap to Net-Zero’. The summit addressed topics such as clean energy and decarbonisation of existing energy systems, attracting investments for green development, promoting sustainable mobility and transportation networks, legislative and strategic frameworks for environmental, social, and corporate governance (ESG) practices, and preparing urban environments for future changes. It also explored innovative technologies supporting the transition to a low-carbon future, food security, youth engagement in climate action, and realising net-zero emissions.
The summit witnessed the launch of the ‘Global Alliance on Green Economy’, which aims to mobilise efforts among participating countries towards green economy goals. This global partnership fosters climate action and sustainable development, enhances capacities in developing countries, supports their green economy transition projects, and facilitates knowledge exchange and best practices.
7th WGES 2021
The 7th edition of the summit, themed ‘Galvanising Action for a Sustainable Recovery’, focused on innovation, energy, the role of women and youth in sustainability, and other critical topics. WGES 2021 concluded with the Dubai Declaration 2021, which recognised that sustainable and green recovery efforts are essential for rebuilding economies post-COVID-19 pandemic while aiming to limit global temperature rise to well below 2°C above pre-industrial levels, striving for 1.5°C as per the Paris Agreement. It stressed the importance of inclusive partnerships involving governments, businesses, and civil society to take collective action for present and future generations. The declaration also encouraged further support for low-carbon transitions through the development of strategies and roadmaps for green hydrogen in Dubai.
6th WGES 2019
The 6th WGES, themed ‘Innovative Technologies for a Sustainable Economy’, centred on sustainable development, international cooperation towards a green economic system, and adoption of innovative green solutions. It drew global leaders and influencers, attracting approximately 4,000 participants, experts, and thought leaders from various fields of green economy and sustainable development, representing markets in 78 countries. Sixty speakers led 14 seminars and discussion sessions.
The summit concluded with the Dubai Declaration, emphasising the importance of international cooperation in addressing global challenges and promoting sustainable development worldwide. The establishment of the Regional Cooperation Centre (RCC) for the Middle East and North Africa and the hosting of Regional Ministerial Conferences by the World Green Economy Organisation (WGEO) on Green Economy underscored global efforts towards a sustainable future.
5th WGES 2018
The 5th WGES focused on three main pillars: green capital, digital transformation, and leadership and social engagement. It explored the latest smart technologies and digital innovations accelerating the transition to a green economy and sustainable development. The summit identified mechanisms for ideal public-private partnerships through legislation and regulations that encourage investment opportunities in energy, water, and infrastructure projects, enhancing the quality of their services.
4th WGES 2017
A notable achievement of the 2017 WGES was the launch of the Green Fund by DEWA and National Bonds, with an initial AED 2.4 billion (US$654 million) funding. Additionally, WGEO introduced the ‘Countries Platform’, with South Korea, Italy, and the UAE as inaugural country members. The 4th WGES concluded with the announcement of the 4th Dubai Declaration, reflecting efforts and commitment to establish Dubai as a global hub of the green economy.
3rd WGES 2016
During the 2016 WGES, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, launched the World Green Economy Organisation (WGEO) in collaboration with the UN Development Programme (UNDP). WGEO aims to promote the transition to a green economy and propagate global green economy projects, while supporting countries and organisations in realising their green strategies and plans.
The summit also witnessed Dubai establishing a Public-Private Partnership Platform to facilitate and showcase innovative projects, partnerships, and technologies related to the green economy.
2nd WGES 2015
In 2015, WGES launched the annual ‘Dubai Green Economy Report’, showcasing Dubai’s green economy initiatives and projects. The Dubai Supreme Council of Energy and UNIDO signed an MoU to establish a regional R&D Centre for sustainable energy.
The summit concluded with the Second Dubai Declaration, outlining objectives such as developing innovative financing solutions for the green economy, launching the Dubai Green Fund, accelerating green project development, enhancing investments in the Emirate, fostering public-private sector partnerships, and promoting cooperation among cities, service providers, and financial institutions.
1st WGES 2014
The inaugural WGES, themed ‘Global Partnerships, Sustainable Future’, was the first green summit in the Middle East and North Africa. It aimed to forge new global partnerships to stimulate investment growth and green trade. The summit attracted prominent experts in energy, finance, and business, as well as government leaders and international organisations.
The summit facilitated dialogue to formulate practical recommendations contributing to mitigating climate change impacts and achieving sustainable development goals. This marked the beginning of an ongoing journey of contributions and achievements, playing a pivotal role in global endeavours.
