How Dubai is leading the path towards green technology and sustainability

Dubai's 'Green Economy' ambitions are fast turning the Emirate into an investment hub for foreign companies that have equally ambitious expansion plans, and even startups
Dubai is inspiring a new wave of investments in sustainability

Dubai is inspiring a new wave of investments in sustainability

Globally, nations are working to reduce their dependency on fossil fuels, reduce carbon footprint, and embrace cleaner and more sustainable sources of mobility, agriculture, power generation, and construction. Dubai is leading the race with massive research and development and investment in renewable energy, and water and electricity initiatives for enabling a sustainable future.
It is noteworthy that His Highness Sheikh Mohammed bin Rashid Al Maktoum - Vice President and Prime Minister of UAE and Ruler of Dubai had in January 2012, launched a long-term environmental initiative, 'A Green Economy for Sustainable Development' which was aimed at positioning the UAE as a world leader in sustainability, and establish Dubai as a hub of export and re-export of green products and technologies.
Needless to say, Dubai is inspiring a new wave of investments in sustainability. The Emirate continues to set the bar high by achieving ambitious clean energy goals, inaugurating new green initiatives and hosting sustainable global events. Dubai is leading the way amid the UAE Net Zero by 2050 strategic initiative, which plans to achieve net-zero emissions by 2050, driving sustainable economic growth and creating a better future for humanity.
UAE has reportedly committed more than US$1.3 billion to renewable energy projects in 65 countries. The UAE-Caribbean Renewable Energy Fund, UAE-Pacific Partnership Fund, as well as US$4.5 million to green energy projects led by the Global Green Growth Institute. Dubai ranks second, globally in greenfield FDI capital flows and third in Global Cities of the Future, aiming to move its economy to a more environmentally sustainable model and generate 75 per cent of its energy from clean sources by 2050. Private investment is key to Dubai’s sustainable strategy with a targeted $182.3 billion investment into renewable energy by 2025.
A number of initiatives promoting green transformation are proving to be extremely successful. Among the various initiatives is the Shams Dubai project, which is Dubai Electricity & Water Authority (DEWA's) first smart initiative to connect solar energy to buildings. It supports the vision of HH Sheikh Mohammed bin Rashid Al Maktoum to make Dubai the smartest city in the world. Under Shams Dubai initiative, companies like Siraj Power are helping to install solar panels across Dubai.
Dubai has also established the Dubai Green Zone with an aim of attracting innovative alternate energy companies. Private joint stock company, Dubai Carbon is instrumental in enabling greener economy and transforming Dubai into the most sought-after destination for clean energy investors.
In 2016, His Highness Sheikh Hamdan bin Mohammed bin Rashid al Maktoum, Crown Prince of Dubai and Chairman of Dubai Future Foundation had launched Dubai Future Accelerators – a platform to facilitate partnerships between entrepreneurs, private sector organizations and government entities to work on pre-specified challenges, and to imagine, design and co-create the future. The initiative has helped find and elevate innovators such as Solavio Labs who designed a bot that increases the efficiency of solar panels.
Over the years, Dubai has received numerous awards and accreditation for its sustainability practices, including Platinum Rating by Leadership in Energy and Environmental Design (LEED). The certification is the highest grade for a city’s sustainability performance benchmark.
In addition, Dubai's 'Green Economy' ambitions are fast turning the Emirate into an investment hub for foreign companies that have equally ambitious expansion plans. It is also proving to be the perfect ground for start-ups to explore business opportunities in the green energy space. Owing to Dubai’s strong focus on leading the green path, international investors are showing immense interest in projects supported by the Dubai Government. It is just a matter of time that Dubai’s green technology sector will witness one of the most rapid growth rates.
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