Dubai [UAE], October 4 (ANI/WAM): The World Green Economy Summit (WGES) 2024 wrapped up its activities on Thursday, attracting participation from numerous current and former heads of state, ministers, government representatives, officials, experts, and specialists worldwide.Saeed Mohammed Al Tayer, who is the Vice Chairman of the Dubai Supreme Council of Energy, MD and CEO of Dubai Electricity and Water Authority (DEWA), and Chairman of the World Green Economy Organisation (WGEO), expressed his heartfelt gratitude to President Sheikh Mohamed bin Zayed Al Nahyan for his ongoing support of sustainability initiatives, the green economy, and efforts to combat global climate change.Al Tayer also conveyed his appreciation to Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, for his sponsorship of the 10th World Green Economy Summit (WGES) and the establishment of WGEO. This organisation collaborates closely with the UAE Government as part of the Global Alliance on Green Economy (GAGE) to foster partnerships among member countries and stakeholders.Furthermore, Al Tayer expressed his thanks to Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, for inaugurating the summit, which was organised by the Dubai Supreme Council of Energy, DEWA, and WGEO. The event saw significant participation from many current and former heads of state, ministers, government representatives, officials, experts, and specialists globally."The World Green Economy Summit has become one of the foremost global platforms dedicated to advancing the green economy globally. The summit reinforces the UAE's pioneering and leading role in mobilising global efforts to enhance climate action and address sustainability challenges. We are pleased with the success of the summit's 10th edition, which served as a valuable forum for all stakeholders to discuss policies, plans and strategies, as well as share experiences, knowledge and innovative ideas that strengthen co-operation and support efforts to balance economic growth and environmental sustainability, supporting the transition to a sustainable green economy and contributing to achieving the UN Sustainable Development Goals 2030," Al Tayer said.He noted that this year's summit provided an opportunity to showcase Dubai and the UAE's innovative approaches to balancing economic development and environmental conservation, while also expanding investments in renewable and clean energy solutions. This summit built on the outcomes of COP28, which the UAE hosted in Dubai last year.Through its various sessions and key insights, WGES played a pivotal role in setting the groundwork for COP29, scheduled to take place in Azerbaijan in November. This aligns with WGES's mission to promote dialogue and collaboration among countries globally in sustainability and the green economy.Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, and COP28 President, stated, "Under the leadership of President Mohamed bin Zayed Al Nahyan, COP28 brought the world together last year to deliver the historic UAE Consensus - the defining point of reference for global climate ambition and sustainable development. While climate action has been seen too often as a burden to nations, we set out to change the narrative and present it as a historic opportunity for growth and innovation - in fact, the largest economic opportunity since the first Industrial Revolution. The transition to a green economy will enable us to fast-track new streams of growth, create new jobs and deliver sustainable prosperity for all."Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, emphasised, "Clean energy is a main requirement to build a robust green economy. So, we updated the UAE Energy Strategy 2050 with higher, more ambitious targets. These include tripling our renewables capacity by 2030, growing our clean energy capacity to 19.8 GW by 2030 and increasing the share of installed clean energy capacity to 30 percent by 2030. We also launched the National Hydrogen Strategy that calls for producing 1.4 million tonnes of low-emission hydrogen per annum by 2031 and increasing production to 15 million tonnes annually by 2050. Both strategies are main enablers of the UAE's Net-Zero by 2050 target.""At the Ministry, we believe our mandate areas - energy, infrastructure, transport and housing - are at the heart of the shift to green economy as they present multiple opportunities for deep decarbonisation. We are taking confident steps to reduce the carbon footprint of these sectors and enhancing their sustainability. Globally, greening these sectors is a huge challenge but here, in the UAE, it is an opportunity for environmental and economic gains. We stand ready to share our experiences with the world," Al Mazrouei added.He noted that year after year, WGES proves to be a driving force behind the global shift to a green economy and expressed his confidence that this edition will be a distinctive addition to a long streak of successful summits.Reem Al Hashimy, UAE Minister of State for International Co-operation and CEO of the Expo City Dubai Authority, remarked, "At Expo City Dubai, we are committed to setting new standards in sustainable development, actively supporting our nation's net-zero targets as we transform from hosts of the World Expo and COP28 into a vibrant community that balances the needs of people and businesses with environmental stewardship. We firmly believe in the power of collaboration and recognise the significance of the 10th World Green Economy Summit as it continues to drive global action towards a greener future."Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, noted, "The United Arab Emirates has been a consistent champion of the opportunities presented by the transition to a green economy, from new energy sources to more sustainable industries and supply chains. The World Green Economy Summit is the embodiment of this commitment and, in its 10th year, it will again gather policymakers, researchers, industry experts and innovators to advance the development of solutions that will not only lead to a cleaner, smarter and more efficient global economy but pioneer new means of value-creation for the benefit of us all." (ANI/WAM)