World green economy summit closes with clear pathway to making Dubai capital of the green economy by 2021

Dubai (WAM): The World Green Economy Summit ("WGES"), the first Summit focused on "green business" in the region, concluded yesterday, with a closing session which provided a platform for determining the way for Dubai to become capital of the world's green economy in line with the goals of the UAE's Vision 2021. Saeed Mohammed Al Tayer, Vice Chairman, Dubai Supreme Council of Energy and CEO, DEWA said: "The inaugural World Green Economy Summit has been very successful and generated many new partnerships, initiatives and projects to develop a green economy, here in Dubai, across the region and worldwide. "In establishing this summit, Dubai has demonstrated its commitment to building a green economy and sustainable development. As a result, we wish to make the following declaration of actions, to extend this effort and to build on the success of the World Green Economy Summit: Dubai will develop the World Green Economy Summit to showcase green economy and business for the Dubai 2020 World Expo, the 2021 UAE Vision, and to develop Dubai as the capital of green economy. Dubai will engage with international stakeholders on a regular basis to prepare the next World Green Economy Summit in 2015 and track the commitments made during the World Green Economy Summit 2014. Dubai will provide support to top international organisations for the World Green Economy. The World Green Economy Summit received the support of prestigious organisations like IRENA, UNDP, and UNFCCC. Dubai will support United Nations R20 and the 'Road to Paris' to facilitate a binding agreement in Paris 2015. Dubai will also be represented in Paris to be present there during the COP21 negotiations. Dubai will develop a Public Private Partnership Platform within the World Green Economy Summit to facilitate synergies between cities, regions and utilities, solution providers and financial institutions. Dubai will facilitate the development of innovative financing for green economy initiatives. Dubai will continue to engage the youth towards green economy and climate change in the context of the World Green Economy Summit. Dubai will publish an annual report, called Dubai Green Economy Report, which will showcase all Dubai Green Economy projects and initiatives. Al Tayer concluded, "On the road to Paris, to Dubai 2020, and to a sustainable future, I would like us to collaborate to transform the many tangible outcomes into action. I look forward to welcoming you here at the World Green Economy Summit 2015." Commenting at the conclusion of WGES, the Summit's Programme Chairman, Andre Schneider, said: "This inaugural World Green Economy Summit has shown the market conditions exist here in Dubai for the development of a genuine green finance trading hub. The sessions have demonstrated that the outcomes of this Summit will be actionable, and incorporated into the long term planning of the economy here - particularly in regard to the upcoming EXPO 2020. We look forward to returning next year for the second instalment of WGES here in Dubai." – Emirates News Agency, WAM