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The UAE is fast-tracking its transition towards green economy. It is taking a slew of measures that will pave the path for a development that has the least environmental impact and is sustainable. Real progress means taking a course in which economy and ecology complement each other.
To achieve a low-carbon economy, it is imperative that the culture of sustainability is encouraged. Every segment of the society has to play its role in ensuring that development is not lop-sided or unbalanced. There has to be an economic equilibrium in the activities that are undertaken for growth. It is this balance that will turn the dream of sustainable development into a reality.
Green economy requires mobilization of integrated efforts. It involves the joint participation of various players in the industry — the public as well as the private sector. Dubai Electricity and Water Authority’s (DEWA) pact with Philips Lighting to bring about energy efficiency is a shining example of public-private collaboration which can work wonders. Energy-efficient LED solutions for buildings will not just conserve power, but also help in reducing the carbon footprint. Judicious and prudent consumption of electricity and water as well as other natural
resources will go a long way in containing climate change impacts. DEWA is also partnering with DP World for the Shams Dubai initiative which will see rooftop solar panels on every household. Other cities should emulate it.
Renewables are at the core of green economy. And Abu Dhabi’s Masdar is giving huge impetus to clean-tech investments and innovation in renewable energy. It is working towards making renewables an essential component of global energy mix. Masdar scripted history when a consortium led by it grabbed DEWA’s deal to develop the 800MW third phase of the Mohammed Bin Rashid Al Maktoum Solar Park in Dubai by quoting the lowest ever tariff for PV power generation at 2.99 US cents per-kilowatt hour (kWh). This has given a big boost to the cost-effectiveness of solar power production.
The UN’s Sustainable Development Goals 2030 and the Paris Climate Pact put enormous stress on green economy. To reach the targets enshrined in them, sustained cooperation between countries is necessary. At the Green Economy Summit, Dubai on Thursday decided to launch $27 billion green energy fund. This can be a catalyst in implementation of environmentally-benign projects and spawn
inclusive progress. The green capital will help the poor nations shift towards clean technologies. Setting up of UAE’s first World Green Economy Organisation (WGEO) and Dubai green free zones are steps that will be instrumental in bringing about environmental sustainability in projects. Devising strategies aimed at more research and development into clean technologies and facilitating their transfer to those in need of them are crucial too.
Green growth is the right pathway for the future. The UAE has realized this quite early. And it is expediting the process towards resource efficiency and giving it a strong push. With support from various civil society groups, decision-makers, industries and experts, the business landscape of the Emirates will become more environment-friendly and stand on a sustainable infrastructure. While making business more competitive yet ethical, sustainability will enhance quality of life of people in the long run.