Dubai Supreme Council of Energy has announced the launch of the private sector platform of the World Green Economy Organisation (WGEO).

The newly launched platform is the first of WGEO that was launched during the third World Green Economy Summit (WGES) in Dubai on 5 October 2016, supported by the United Nations Development Programme (UNDP).

The platform aims to establish partnerships, enable dialogue and knowledge exchange among countries, public and private sectors, UN Agencies, financial institutions and civil organisations, to accelerate transition to green economy.

It was inaugurated by Sheikh Ahmed bin Saeed Al Maktoum, the chairman of the Dubai Supreme Council of Energy, on Saturday (February 11) at a grand ceremony in the presence of Dr Thani bin Ahmed Al Zeyoudi, Minister of Climate Change and Environment; Suhail Mohamed Faraj Al Mazrouei, Minister of Energy; Saeed Mohammed Al Tayer, chairman of WGEO and Helen Clark, Administrator of the United Nations Development Programme (UNDP).

The event kicked off with a keynote speech by Saeed Mohammed Al Tayer, the chairman of WGEO.

"The UAE joined the organisation as its first member during the 22nd session of the Conference of the Parties (COP 22) which was held in Marrakesh, Morocco, in November 2016," said Al Tayer.

"This reflects the diligent efforts of the UAE to support the United Nations Sustainable Development Goals (SDGs) 2030 and the Paris Climate Agreement. The organisation plays a pivotal role in limiting climate change as well as finding innovative solutions to the challenges related to sustainable energy, water and the environment in general," he stated.

Underscoring the vision of WGEO, Al Tayer said through its seven platforms, the green economy body aims to develop innovative solutions to climate change, as well as other challenges facing the environment and society.

"This initiative is in line with global agendas and the UAE’s, ‘A Green Economy for Sustainable Development’ initiative which was launched by HH Sheikh Mohammed bin Rashid Al Maktoum. It's not a secret the organisation's essential role is to reduce the investment risks in the green economy sector, and support international cooperation in innovation and funding," observed the top official.

The WGEO was founded on seven platforms, namely, countries, sustainable cities sector, private sector, academic sector, organisations and civil society, youth sector and financial sector.

"Today we are proud to launch our ‘Private Sector Platform’, which is the first initiative under the World Green Economy Organisation, in alignment with its first pillar," he said.

The platform, stated Al Tayer, aims to help WGEO to take on a frontline role by establishing partnerships as well as enabling dialogue and knowledge exchange among countries, public and private sectors, United Nations Agencies, financial institutions and civil organisations, to accelerate transition to green economy.

“The role of the private sector in this transition is of crucial importance in establishing a strong foundation for a healthy and diversified economy. WGEO aims to catalyse the private sector towards a greener economy that achieves sustainable development,” he added.

According to him, the new platform will help forge world-class partnerships, helping us build capacity and develop key opportunities for partnerships between private and public sectors across the region and internationally.

The ‘Private Sector Platform’ will therefore create pathways to green development by facilitating the adoption of green innovative technologies, products and services on a global equilibrium. The private sector is increasingly seeing the opportunities that come along with 'green growth' and this Platform will provide the prerequisite channel for a vibrant private sector engagement,” stated Al Tayer.

“The focus on adopting a green lifestyle is going to be a key aspect of the new platform. We are determined to exceed the level of developing innovative important initiatives; we want to make sure these initiatives are applicable in everyday life so that future generations can benefit from our actions today. We also need to focus on opportunities to develop joints projects internationally,” he added.

In her address, Clark explained UNDP’s role in supporting WGEO.

“UNDP is pleased to be associated with this ground-breaking initiative to support WGEO develop capacities in the coming years leveraging on the support of the private sector,” he stated.

"The transition to a green economy is a challenging move for any country, a process that calls for multiple approaches and several catalysts. WGEO’s initiative to launch the ‘Private Sector Platform’ today reinforces its determination to persevere its green goals," noted Clark.

“The launch of the ‘Private Sector Platform’, which is the first initiative under WGEO, is shaped by the organisation’s clear thinking and resilient policy-making capabilities. It will further enhance the private sector position as a global role model for green initiatives,” she added.-TradeArabia News Service