Dubai Hosts 10th World Green Economy Summit

Dubai on Wednesday began the 10th World Green Economy Summit (WGES) under the theme "Empowering Global Action: Unlocking Opportunities and Advancing Progress," focusing on the green economy and the adoption of sustainable practices.

The event, organized by the Dubai Supreme Council of Energy, Dubai Electricity and Water Authority (DEWA), and the World Green Economy Organization (WGEO), brought together current and former presidents, ministers, global leaders, officials, and experts from around the world, WAM reported

The two-day summit is being held at the Dubai World Trade Centre. The first day included key panel discussions on speeding up the shift to a green economy and encouraging global adoption of sustainable practices.

The first day of the summit began with a session called, "International Co-operation on Climate Mitigation: Treaties, Agreements and Collaborative Projects," featuring speakers such as Luma Saqqaf, Director for the Middle East, Africa, and India at Principles for Responsible Investment, and Dr. Mahamadou Tounkara, Regional Director for the Middle East & North Africa at the Global Green Growth Institute (GGGI).

Sarah El Battouty, Global Ambassador for the UN High-Level Climate Champions and Founder of ECONSULT, was also present during the event. The session highlighted the importance of clear agreements and treaties to support international cooperation in fighting climate change.

The speakers agreed that reaching net-zero by 2050 is the solution to the climate crisis, but the challenge lies in figuring out how to achieve it.

In another session, titled "Measuring and Reporting Carbon Footprints: Best Practices and Challenges in Transparency, Accountability and Benchmarking," Jean Louis Morcos, Senior Investment Officer and Regional Sustainable and Climate Finance Lead at the International Finance Corporation, and others discussed various aspects of carbon footprint management and reporting.

This session was also attended by Miki Hirasawa-Ashton, Global Leader for Sustainability Engagement in Public Affairs at 3M; Daxita Rajcoomar, Chief Sustainability Officer at Engie; and Vivek Tripathi, Co-Founder & Chief Executive Officer of Olive Gaea.

Companies like 3M are planning to greatly reduce emissions by 2030 using innovations like green hydrogen and sustainability strategies. The speakers stressed the need for global reporting standards to ensure companies are transparent and accountable. They also discussed the importance of technology in tracking and verifying emissions data, especially for meeting regulations and holding companies responsible.