GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Government, Legal and Humanity

 
  Share

The Summit will unlock ways and means to tout green finance

Dubai, UAE,  03 October 2017:  In an endeavour to step up support for green financing and to leverage innovative finance mechanisms, 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 financing and investment solutions in the transformation towards the 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, organised by Dubai Electricity and Water Authority (DEWA), and the World Green Economy Organisation (WGEO), the fourth edition of WGES2017 will be held under the theme of ‘Driving innovation, Leading change'.

Financial sectors play a fundamental role in helping governments finance their goals. By committing to sustainable projects, the financial sector can be an effective multiplier for the lasting benefits for both clients and the society at large. As fundamental actors of the global investment value chain, public and private financial institutions arguably have a fiduciary duty to optimise their response to climate change. WGES 2017 will cover a number of sessions which will discuss 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 HE 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,” added His Excellency.

“WGES 2017 aims to encourage the public and private sectors towards investment through a green economy within the framework of holistic and sustainable growth. In addition, it aims to shine spotlight on the latest developments in innovating financing solutions for the green economy from around the world, and explore the potential for green fintech application which can help scale up green finance in the near future,” pointed out His Excellency.

Committed to develop the next generation of innovative finance solutions that are needed to close the gap between global development's funding needs and the resources that are currently available, WGES 2017 will feature an exclusive, closed door roundtable on green finance. The roundtable will bring together over 30 executives from around the world to discuss the key challenges and assess possible solutions to accelerate the alignment between the financial services industry and the green economy. 

“Greening global economic growth is the only way to drive sustainable goals. As financial institutions are uniquely positioned to play the role of sustainability catalysts, it is important to engage with these institutions to manage risk, allocate capital and mobilise savings. Given the prominent roles the financial institutions play in the SDG era, it is important to push them to serve as engines of transformation toward a low-carbon, climate-resilient pathway,” said Mr Paolo Lembo, Project Director of WGEO.

“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,” added Lembo.

“The mandate of WGEO is specifically aimed at forging private sector coalitions that identify investment barriers and address them in an effective manner, bringing private sector skills to deliver both, project and finance-specific solutions. Without a more active involvement of the private sector, neither the Paris agreement objectives nor the SDGs will be achieved in full,” pointed out Lembo. 

“WGEO intends to lead a number of interactive events aimed at testing broader partnerships with private sector, academia and NGOs, indicating the developmental potential of innovative green coalitions,” he concluded while explaining WGEO's activities at WGES 2017.  

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.



Posted by : GoDubai Editorial Team
Viewed 6564 times
Posted on : Tuesday, October 3, 2017  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.com.
Previous Story : Dubai highlights opportunities in local maritime industry at INMEX SMM India 2017
Next Story : Abu Dhabi Fund for Development Extends Financial Contribution to Emirates Foundation for Youth Devel...
Email this article Print this article

Share this article with your friends and followers
NewsVine

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Fresh Hair in an Instant with SHOW Beauty
Amadeo® Fleurier 39 “Fan”
Mother's Day Gift Guide 2018 from The Little Birdy Group
Show/Pop-up Event “Pret-A-Cover™ Buyers Lane” to Be Launched in Dubai From March...
Moreish Café in Dubai introduces a healthy Quinoa Burrito
True Colours
Robinsons Honored for Outstanding Store Design
Splash receives 2 awards
UAE Team Emirates' Mirza Takes Gold at Asian Cycling Championships
Phenomenal development in falconry racing from small beginnings: HHC Deputy CEO
WGS 2018: Opening Session Highlights Importance of Embracing Smart Living to Enh...
RAK Hospital launches the biggest weight-loss challenge in association with MoHA...
2XL launches Malmo Bed with floral designs for a vintage shabby chic inspired ma...
Food Lovers Rejoice: Dubai Food Festival Is Back This Month
Bridal Glow is Skin Deep: Tips for every bride-to-be in 2018
Mealtop, Introducing a Whole New Dessert Experience
Optim-Eyes Lashes & Brows with Filorga
Al Ahli Holding Group to redefine the UAE value shopping category through an AED...
NEZO launches new identity to guide consumers in selecting the best salt for the...
Safilo Group Reveals Its Spring/ Summer 2018 Collection
WGS 2018: Governments Need to Prioritize Wellbeing of Citizens, Say Internationa...
Redefining the Skin Clinic Experience. #allnewkaya opens in Muscat City Centre!
The new BMW HP4 RACE arrives at Abu Dhabi Motors – one of just 750 built
The Robots Are Coming: Ministry of Finance Brings Artificial Intelligence to Dub...
Leading Scientists, Astronauts Share Insights on why Space Exploration Matters a...
Kate Spade New York Spring 2018 Collection
New Report from Accenture and the World Government Summit Finds That Regulators ...
ADNOC Schools Team Wins Etihad Artificial Intelligence Competition
Garbiñe Muguruza Hungry for Success at Dubai Duty Free Tennis Championships
First Ever UAE Race Car Fitted with Immensa 3D Printed Parts
Global Expansion in sight for ICONS© Coffee Couture
WGS 2018: Innovation to Propel Dubai into the Next Century
WGS 2018: Governments of the Future Must Work Smartly with Innovation and Technology
Catch Some Zzz's in the IKEA Nap Truck
Dubai Electronic Security Center Receives Overwhelming Interest From Regional an...
Turkish Airlines has announced its 2018 January passenger and cargo traffic results.
Global energy shifts set to transform the Middle East energy sector
Emirates firms up order for up to 36 additional A380s
Dubai Airports' new Modular Data Centre Complex (MDCC) a 'world first'
Al Ghurair Foundation for Education Event on ‘Graduating Work Ready Youth' Unvei...
Dual Investments Brand LE66 to Relocate from City Walk to New Dubai Location in 2018
WGS 2018: Global Policy Platform Panel Considers Supporting Female Entrepreneurs...
Do You Feel Sleep Deprived? Nearly Half of UAE Would Give Up Social Media for an...
WGS 2018: Renowned Innovation Expert Fast Forwards Time to Showcase Glimpse of t...
South African artisans of fine leather products look to make big impression at L...
Former Indian Space Chief Presents Country as a Global Low-Cost Provider of Sate...
WGS 2018: For the Future of Mankind, Mars is the Next Frontier, Says Renowned Ar...
15,000 participate in the Dubai Cares' annual Walk for Education 2018 in support...
Ground-breaking cellular therapy set to revolutionise treatment for children wit...
DAMAC Properties deliveries surpass 20,000 unit milestone as it reports net prof...