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WGES 2018 will underpin the role of digital technologies, leadership and investment to drive green growth

Green economy is seen to be at the core of the efforts to contribute and progress towards the economic, environmental and social considerations of the sustainable development agenda.


Devdiscourse News Desk Renu Mehta Last Updated at 07 Aug 2018, 23:08 IST United Arab Emirates
WGES 2018 will underpin the role of digital technologies, leadership and investment to drive green growth
  • Green Economy is a pathway towards achieving the 2030 Agenda for Sustainable Development, eradicating poverty while safeguarding the ecological thresholds, which underpin human health, well-being, and development. (Image Credit: Pixabay)

Green economy, an economy that intends to advance sustainability and social equity, while significantly reducing environmental risks and ecological scarcities, is critical to achieving a resilient economy that provides a better quality of life for all within the ecological limits of the planet.

It is a pathway towards achieving the 2030 Agenda for Sustainable Development, eradicating poverty while safeguarding the ecological thresholds, which underpin human health, well-being, and development.

The fifth edition of the World Green Economy Summit (WGES) is set to take place from October 24th to 25th at the Dubai International Convention and Exhibition Centre. The strategic platform brings together governments, international business leaders, and world-class experts in the public and private sector, and other stakeholders from around the world to discuss and exchange policies and roadmaps that can advance the cause of sustainability and promote investments in the green economy.

The summit is being organized by DEWA and the World Green Economy Organisation (WGEO) in collaboration with international partners, under the slogan "Driving Innovation, Leading Change". The 2018 summit will focus on three interlinked pillars, namely:

  • Green Capital: The summit will discuss ways to increase green capital flows into regional and global environment-friendly projects, with also a focus on green investment vehicles, climate-change reporting, carbon pricing as an instrument to raise green capital, and the widespread problem of greenwashing.
  • Digital Technologies: From Artificial Intelligence (AI) and Big data to blockchain and Internet of Things (IoT), technological innovation is essential to trigger the transition to green economy. The WGES 2018 will take a closer look at the latest digital breakthroughs and smart technologies to accelerate digital transformation and green economic growth. The integration of ICT with the green economy strategies will create more opportunities for sustainable development while reducing environmental risks and ecological scarcities.
  • Leadership and social engagement: The transition to the green economy can't be achieved without the active participation of the public and private sector leaders. Recognising the fundamental role of leadership and social engagement, the summit will facilitate dialogue between the political and corporate leaders on how to best use their authority to engage the society in the green economy, by introducing progressive policies and incentives, changing individual behavior and consumption patterns, or raising environmental awareness.

To create an ecosystem for sustainable green growth, the summit seeks to deliver on its objectives through the following ten goals:

  • Stimulate discussion among government agencies and regulators,
  • Drive dialogue and action among industry stakeholders,
  • Facilitate interaction between the public and private sectors,
  • Showcase revolutionary digital platforms and best practices in the green economy,
  • Define areas where green investments are most needed,
  • Identify promising sources of finance that can advance the green economy,
  • Address challenges impeding the transition to a green economy,
  • Advance Dubai's vision to become the Global Capital of the Green Economy,
  • Explore ways of achieving the 17 UN Sustainable Development Goals by 2030, and
  • Explore ways to realize the recommendations of the Conference of the Parties, i.e COP21 and COP22, Paris climate agreement, and conclusions from WGES 2017.

Green economy is seen to be at the core of the efforts to contribute and progress towards the economic, environmental and social considerations of the sustainable development agenda. Being held under the patronage of HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President Prime Minister of UAE and The Ruler of Dubai, in cooperation with Dubai Supreme Council of Energy and the United Nations Development Programme (UNDP), the WGES 2018 is expected to be attended by more than 3,000 participants.


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