Tue 03-10-2017 15:24 PM

World Green Economy Summit to shed light on green financing for sustainable growth and development

DUBAI, 3rd October, 2017 (WAM) -- In an endeavour to step up support for green financing and to leverage innovative finance mechanisms, the World Green Economy Summit, WGES 2017, set to be held on 24th and 25th October at Dubai International Convention and Exhibition Centre, will highlight the role of financing and investment solutions in the transformation towards the green economy.

Held under the patronage of Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, and organised by Dubai Electricity and Water Authority, DEWA, and the World Green Economy Organisation, WGEO, the fourth edition of the summit will be held under the theme, ‘Driving innovation, Leading change’.

WGES 2017 will include a number of sessions which will look at the role of the financial services industry for the promotion of the green economy, and how innovative financing solutions are changing the green economy landscape.

"Green finance is a strategic approach to accelerate the global transformation to a sustainable green economy. As such, it is imperative to recognise the role of the financial sector and develop products and instruments that will smooth the way for green growth and suitable climate change adaptation," said Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy in Dubai, Managing Director and CEO of DEWA, and Chairman of WGES.

"WGES 2017 will focus on the promotion of green financial sector regulation, the build-up of capacities in financial institutions as well as the introduction of innovative financing concepts to increase the flow of funds into green investments. It will bring together public and private financial institutions and leading investment consultants to discuss the latest developments in green finance policy, investment vehicles, investor appetite for green products and the participation of corporates. The summit will also offer participants an opportunity to hear from senior executives from global and regional financial institutions, and multilateral organisations such as the World Bank and United Nations Environment Programme - Finance Initiative, UNEP FI, on the alignment between the green economy and the financial services industry," he added.

"Financing a green future takes dedication as well as innovation. WGES 2017 will take an in-depth look at the innovative financing mechanisms driving forward the sustainable development agenda. We are confident that the Summit will pave way for new and innovative mechanisms for mobilising climate and SDG financing that can contribute towards achievement of UAE’s and the world’s targets and create innovative pathways to sustainable development," said Paolo Lembo, Project Director of WGEO.

The 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.

 

WAM/MOHD AAMIR/Chris Moran