World Green Economy Summit (WGES) 2017 highlights the importance of innovation and technology to power the green economy
With technological innovation shifting towards sustainable solutions, the fourth World Green Economy Summit (WGES) 2017, set to be held on 24-25 October at Dubai International Convention and Exhibition Centre, will highlight the role of innovation and technology in the transformation towards a green economy. Held under the patronage of HH Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, WGES is organized by Dubai Electricity and Water Authority (DEWA) and the World Green Economy Organisation (WGEO) in collaboration with global partners, the fourth edition of WGES 2017 will focus on ‘Driving innovation, Leading change.’
WGES 2017 will discuss innovative clean energy solutions that are economical, efficient, and reliable. WGES 2017 will handle innovative technologies and solutions that will shape the future of the green economy. It will particularly highlight the global digital transformation’s role and its impact on major economic, social, and environmental challenges.
WGES 2017 will highlight how significant innovation is to green growth and help decouple growth from natural capital depletion and contribute to economic growth and job creation. While business is the driver of innovation, governments play a vital role in providing clear and stable market signals. Besides, investment in research and development, support for commercialization, strengthening markets, and fostering technology diffusion also serve as the key players. WGES 2017 will bring to focus on the best solutions that promote and enhance green growth.
“Technological innovations in renewable and clean energy are arguably the lifeblood of a sustainable economy. The UAE Vision 2021 and Dubai Integrated Energy Strategy 2030 is a reflection of the careful preparation and thinking which is going into our country’s rapid transition to support a green economy,” said HE Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy in Dubai, and Chairman of WGES.
“Technological innovation is essential for a transition to a green economy. Crucial to organizations’ continued success in the Middle East and the region, it is key to the UAE’s future, the wider region, and indeed the global economy. As such, WGES 2017 will ensure that the Summit serves as a strategic platform to provide the best-in-class strategies to meet the green goals,” added Al Tayer.
WGES 2017 will also bring to focus on how investing in energy, and environmental R&D is not enough. Only a small share of the key inventions aimed at addressing climate change emerge from energy or environmental R&D. As such, R&D in fields such as material sciences and engineering are much more important sources of scientific research for green technologies. Similarly, carbon taxes are not enough to stimulate green innovation. Putting a price on carbon is very important for incremental improvements to cleantech but does not necessarily lead to breakthrough innovations. Public and private investment in research is also needed to drive long-term green innovation.
“Green growth provides a means by which economic, environmental, and social goals can be simultaneously achieved. While addressing climate change with these alternative and renewable technologies can be expensive, the concept is by no means unrealistic. However, it is essential to remove regulatory barriers that can help spur entrepreneurship and generate new business models that challenge incumbent firms,” added HE Saeed Mohammed Al Tayer.
WGES 2017 will address new technological advancements and innovations, increasing the share of renewable energies by reducing costs and enhancing efficiency. The Summit will also cover several sessions that will discuss the innovative solutions and new technologies in accelerating the transition to the green economy. While participants will have an opportunity to hear from innovators and executives from major corporations at the forefront of this transformation, they will also have a chance to identify varied new methods and mechanisms to incorporate technological innovation into daily business practices.
“Technological innovation is one of the most important elements required for the next stage of evolution in the energy industry. WGES 2017 will bring together senior professionals and corporate sustainability leaders to discuss and examine how companies today can transition more efficiently to the green economy by integrating innovation and technology in their business models,” added Al Tayer.
While innovation has and will continue to play an important role in the green economy, WGES 2017 will also provide insight into how digital technology can be leveraged in the context of major economic, social, and environmental challenges faced by countries today. The Summit will shed light on the paradigm shifts that have taken place due to digital transformations within sustainable development policies. The Summit will also serve as a forum for discussions and deliberations that can provide lively and rich-ideas, based on as many stories of successful sustainable development projects. It will lead young entrepreneurs and innovators to offer and provide solutions and ideas that address economic, social, and environmental issues and challenges.
“While innovation and technology play an important role in creating green economies, strong leadership will help shape it. We are positive that WGES 2017 will serve as a catalyst for growth and development, powering communities and economies to drive the creation of opportunities that will enable greater social inclusion,” concluded Al Tayer.
WGES 2017 will be held in conjunction with the 19th edition of Water, Energy, Technology and Energy Exhibition ‘WETEX 2017’ and the 2nd edition of ‘Dubai Solar Show 2017’, as part of the Green Week activities in Dubai.
