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Abu Dhabi / WAM
To support the growth of the environmental goods and services (EGS) sector, the Ministry of Climate Change and Environment (MOCCAE) is leading a project that aims to assess the state of play in the local EGS industry.
The EGS Project will define and map the sector, assess its overall economic value, and develop actionable enabling policies to maximise its
contribution to economic diversification, industrial competitiveness, and climate
action.
Eng Aisha Al Abdooli, Acting Assistant Under-Secretary of the Green Development and Climate Change Sector at MOCCAE, said, “The National Climate Change Plan 2017-2050 counts private sector-driven innovative economic diversification among its main goals. This can be achieved by tapping into the potential of businesses in the EGS market as a source of innovation that advances sustainability objectives while accelerating post-Covid-19 recovery.”
The EGS Project also supports several other policies, including UAE Green Agenda 2015-2030, the UAE Circular Economy Policy 2021-2031, the UAE Environmental Policy, the UAE Energy Strategy 2050, the National Food Security Strategy 2051, the UAE Water Security Strategy 2036, and the second Nationally
Determined Contribution.
The EGS sector comprises a heterogeneous set of goods and services that protect the environment and conserve natural resources. Its market encompasses a wide range of environmental economic activities across various industries and supply chains that are related to renewable energy, pollution control, energy efficiency, climate-smart agriculture, waste recycling, resource management, and environmental consultancy, among others.
Increasing the global trade flow for EGS has attracted interest in international policy discussions due to its crucial role in achieving multiple Sustainable Development Goals (SDGs). The World Trade Organisation (WTO) emphasised the importance of addressing the nexus between trade and climate change through the EGS in the process of building back better after the pandemic.
The EGS market in the UAE has been growing over the past decade and is poised for further expansion. Despite the potential of the sector to become a new driver of sustainable development, the scope and boundaries of the local EGS industry have not been clearly defined.
In the long term, the project is expected to lay the groundwork for a comprehensive EGS data management system and evidence-based research and policy that support green industries.