World Green Economy Summit: Global platform supporting transition to green, sustainable economy

Held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, the World Green Economy Summit (WGES), launched 10 years ago, has consolidated its position as a cornerstone for achieving the sustainable development goals and the transition to a green economy.

The summit has successfully kept pace with the UAE’s leading and relentless efforts in supporting global climate action.

WGES is organised by the Dubai Supreme Council of Energy, Dubai Electricity & Water Authority (DEWA), and the World Green Economy Organisation (WGEO). It provides a pioneering platform that brings together prominent experts and specialists in various key sectors from around the world.

The summit fosters the exchange of ideas and experiences and coordinating the efforts of decision-makers and stakeholders in the energy, economy, and climate sectors. It provides innovative solutions and pioneering practices that drive positive change and turn challenges into opportunities, supporting the UN Sustainable Development Goals 2030.

The 10th WGES will be held 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 key thematic pillars, including Decarbonisation; Clean Energy Advancements (including Green Hydrogen & Energy Storage); Climate Finance; Circular Economy; Using Technology to Tackle Climate Change; Youth in Climate Change, and 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 on the themes and goals of the past nine editions 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, and enhancing international cooperation in various relevant sectors.

Al Tayer stated that the 10th WGES will host ministers, decision-makers, CEOs, and senior officials from the government and private sectors, and representatives of non-governmental organisations from around the world. They will discuss ways to advance the green economy, enhance effective cooperation in innovation, technology, and green finance, and utilise fruitful partnerships between the government and private sectors to support sustainable development efforts.

Achievements over the years

9th WGES 2023

The 9th WGES 2023 hosted a diverse cohort of stakeholders, empowering developing regions and encouraging global cooperation and public-private partnerships. WGES 2023 focused on the UAE’s priority areas for COP28, which the UAE hosted last year, including mitigation, adaptation, finance, and loss and damage across key pillars.

These included the green policy pillar, which focused on the global stocktake, global carbon market, national and corporate approaches, sustainable development goals, and policies for a just green transition; and the green finance pillar, which focused on securing access to financing in low- and middle-income countries, de-risking investments, financing technology, the global economic landscape, and private sector solutions.

WGES 2023 also witnessed 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), to foster sustainable development and green initiatives across the African continent. Additionally, WGEO announced during this edition that 86 countries have joined the Global Alliance on Green Economy (GAGE), and the Dubai Supreme Council of Energy launched the 5th Emirates Energy Award (EEA) 2023- 2025.

8th WGES 2022

The 8th WGES 2022 was held under the theme, ‘Climate Action Leadership through Collaboration: The Roadmap to Net-Zero’. The Summit covered several topics including clean energy and decarbonisation of existing energy systems, financing and attracting investments to achieve green development, and promoting sustainable mobility and sustainable transportation networks.

It also discussed legislation and strategy for environmental, social, and corporate governance (ESG) practices, and how the urban environment keeps pace with future changes. In addition, the summit covered innovative technologies that support the transition to a low-carbon future, food security, youth engagement in climate action, and making net zero a reality.

The Summit witnessed launching the ‘Global Alliance on Green Economy’, which aims to mobilise the efforts of participating countries to achieve the green economy goals, our highest priority. This global partnership empowers climate action and sustainable development, contributes to enhancing the capacity of developing countries, providing support for their green economy transition projects, and exchanging knowledge and best practices.

7th WGES 2021

The summit’s 7th edition was held under the theme ‘Galvanising Action for a Sustainable Recovery’. Its agenda covered innovation, energy, women’s role, youth and sustainability among other important topics. WGES 2021 concluded with the Dubai Declaration 2021, which acknowledged that sustainable and green recovery should steer our efforts to rebuild the economy after the COVID-19 pandemic, as well as to limit the temperature increase to well below 2°C aiming for 1.5°C above pre-industrial levels, in line with the Paris Agreement.

It highlighted encouraging inclusive partnerships in which governments, businesses and civil society are part of collective action, for current and future generations. It encouraged further support towards low carbon transition by developing a strategy and a roadmap for green hydrogen in Dubai.

6th WGES 2019

The 6th WGES, held under the theme ‘Innovative Technologies for a Sustainable Economy,’ focused on three main pillars: sustainable development, international cooperation towards a green economy system, and adoption of innovative green solutions. Global leaders and influencers attended the Summit, which attracted around 4,000 participants, experts and opinion leaders in various fields of the green economy and sustainable development, including representatives of global markets from 78 countries. Sixty speakers spearheaded 14 seminars and discussion sessions.

The Summit concluded with announcing the Dubai Declaration, which highlighted the importance of international cooperation in addressing global challenges and promoting sustainable development worldwide. The establishment of the Regional Cooperation Centre (RCC) for Middle East and North Africa, as well as hosting of Regional Ministerial Conferences by World Green Economy Organisation (WGEO) on Green Economy to enhance cooperation between the countries of the world, is a testament of global efforts to march towards a sustainable future.

5th WGES 2018

The 5th WGES focused on three main pillars including green capital, digital transformation, and leadership and social engagement. It also discussed the latest smart technologies and digital innovations that accelerate the shift towards a green economy and sustainable development. This ensures the shift towards a green economy.

The summit identified mechanisms for ideal public-private partnerships by developing legislation and regulations that encourage investment opportunities in energy, water, and infrastructure projects and improve the quality of their services. It also discussed the latest smart technologies and digital innovations that accelerate the shift towards a green economy and sustainable development.

4th WGES 2017

One of the most notable achievements of WGES 2017 was DEWA and National Bonds launching the Green Fund, providing initial funding of AED 2.4 billion (US$654 million). Moreover, WGEO launched 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 the endeavours and determination to make Dubai a global hub of the green economy.

3rd WGES 2016

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 Program (UNDP) during WGES 2016. WGEO contributes to enhancing the transition to a green economy and disseminating green economy projects at a global level, as well as supporting countries and organisations seeking to achieve their strategies and green plans.

The summit also saw Dubai establishing a Public-Private Partnership Platform to facilitate and demonstrate innovative projects, partnerships and technology related to the green economy.

2nd WGES 2015

During WGES 2015, the annual ‘Dubai Green Economy Report’ was launched, showcasing Dubai’s green economy projects and initiatives. The Dubai Supreme Council of Energy and UNIDO also signed an MoU to establish a regional R&D Centre for sustainable energy.

The summit concluded with the Second Dubai Declaration, highlighting key objectives such as developing innovative financing solutions for the green economy, launching the Dubai Green Fund, accelerating green project development, and enhancing investments in the Emirate. The declaration also underscored Dubai’s commitment to fostering public-private sector partnerships and promoting cooperation among cities, service providers, and financial institutions.

1st WGES 2014

The 1st WGES was held under the theme ‘Global Partnerships, Sustainable Future.’ The summit, which was the first green summit in the Middle East and North Africa, aimed to foster new global partnerships to promote the growth of investment and green trade. The summit attracted prominent experts in energy, finance, and business, as well as government leaders and international organisations.

The summit fostered dialogue to deliver practical recommendations that contribute to mitigating the effects of climate change and achieving the sustainable development goals. This was the beginning of an ongoing journey of giving and achievements that continues to play an essential role in global efforts.