DUBAI (WAM): The 10th edition of the World Green Economy Summit (WGES) highlights climate finance as a central theme, emphasizing its critical role in enhancing global climate resilience. Organized by the Dubai Supreme Council of Energy, Dubai Electricity and Water Authority (DEWA), and the World Green Economy Organisation (WGEO), the summit aims to address the urgent need for adequate funding to support vulnerable countries in managing climate change impacts.
With global climate investments reaching USD 1.3 trillion between 2021 and 2022, experts stress that these must increase fivefold to meet the Paris Agreement’s 1.5°C target. The UAE is positioned as a leader in climate action, mobilizing resources through initiatives like the ALTERRA Fund, which allocates AED 92 billion (USD 25 billion) to climate investments.
The summit builds on the outcomes of COP28, reinforcing the importance of financial mechanisms in achieving sustainable development goals. Notable speakers highlighted innovative strategies and commitments from various sectors to drive the green transition and accelerate carbon neutrality efforts.
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