The UAE Cabinet, headed by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, approved a new version of the UAE’s second Nationally Determined Contribution (NDC) under the Paris Agreement. The updated NDC responds to the call of the Glasgow Climate Pact, a main outcome of the 26th UN Climate Change Conference (COP26), for countries to strengthen the ambition of their NDCs by end-2022.

This think tank was run by Goumbook in partnership with Emex and hosted by Jumeirah Group in their flagship hotel Burj Al Arab on 3rd of June, 2022.

It included a presentation by Daniel Gribbin – VP of Sustainability and ESG at Emex, and a panel discussion that was moderated by Tatiana Antonelli Abella, featuring Mohamad El Khalil – Director of Prudential Supervision at DFSA, Mariam Alqubaisi – Head of Sustainability and Business Excellence at Etihad, Adrienne Doolan – CEO of Green Touches and Board Member of UN Global Compact Network UAE, and Ashraf Abdelkhalek – Sustainability, Health and Safety Leader for Gulf Countries at Schneider Electric.

You can download the event report HERE

The transition to a greener future in the Middle East and North Africa would require governments to adopt new policies and tools that will help fast-track the creation of a low-carbon economy, according to a report published by the Mohammed bin Rashid School of Government.

Titled ‘Financing a Green Transition in MENA’, the report outlined two main ways countries in the region can increase green investments. The first one is by enhancing its enabling environment for sustainable investments, and this can be done through policy and governance frameworks that support better finance flow for these types of investments. The report suggested some projects such as green investment banks, creation of regulating bodies for energy efficiency markets, and the development of a green taxonomy.

The other way is to adopt key financial and economic tools that can help raise and deploy capital, manage risks, and mobilize private sector investments. Green bonds or green sukuk are some of these examples as well government-owned corporations financing low-carbon industries. 

Jeffery Beyer, managing director of sustainability firm Zest Associates and co-author of the report said: “The MENA region has the opportunity to capitalize its resources, create jobs and tackle climate change but this will require greater investments from the private sector. There are actions governments can take now that are low-cost, relatively easy to implement and would have a big impact in making the Middle East a more attractive environment for green investment.”

The report cited national recommendations that are focused on its unique circumstances where there are current limitations or lack of initiative, while the regional recommendations highlighted the importance of collaboration to deliver stronger impact than if the measures where individually done by each country. 

These recommendations offer various ways in which governments can mobilize US$230 billion of annual funds for the region to contribute in achieving the UN Sustainable Development Goals.

The study, which was funded by HSBC, was presented during Arab Green Summit held in June 2022 in Dubai.

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council, has approved the policy adopted by The Executive Council which will encourage companies in the private sector to engage in corporate social responsibility (CSR) initiatives. The announcement came during the council’s meeting held at Expo 2020 Dubai.

HH Sheikh Hamdan emphasized that social responsibility has a central role to play in strengthening the society and providing the space for the private sector to contribute to Dubai’s overall development. 

His Highness said: “The deep commitment demonstrated by local companies and the private sector to social responsibility values reflects the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum to promote partnerships between the private, public and non-profit sectors with the aim of creating a positive impact on the community. The concept of social responsibility represents the commitment of companies to enhance the wellbeing and happiness of the community. Strong partnerships with the private sector, which is a strategic partner in our development journey, is vital to accelerate our development plans.”

Noting the significant contribution of the private sector during the pandemic through the Community Solidarity Fund which amounted to more than AED 356 million, HH Sheikh Hamdan acknowledge that private sector institutions have already been showing their capability to fulfil social responsibilities.

The new policy aims to help companies align their projects in accordance with the priorities set by the government. Based on a study conducted by Dubai’s Community Development Authority (CDA), 

67 per cent of CSR initiatives in the emirate were directed towards education, while 63 per cent are invested in promoting environmental causes, and 58 per cent focused on ways to empower people of determination.

During the meeting, The Executive Council also approved the Road and Transport Authority’s joint mobility plan and electric scooter policy aimed at advancing sustainable transport in the emirate. According to surveys, Dubai has seen an increased use of electric scooters where a total of 390,000 electric scooter journeys recorded between October 2020 to June 2021. The emirate is striving to legalise and operate multiple means of joint transportation as part of a sustainable mobility plan. 

The Dubai Municipality has led the ‘Clean up the World’ campaign which saw more than 1,200 volunteers from government and private organizations participating in the picking up of waste in various public places. The annual drive themed ‘Supporting Local Environment Action to Make a World of Difference’ gathered more than 3,000 kilograms of waste, according to the authorities.

Community volunteering campaigns have been gaining more support from various members of the community who are keen give their time and energy as part of their social responsibility. People from various walks of life engage in environmental or social activities under the supervision of the Dubai Municipality to enhance the physical environment such as cleaning public places and maintaining the beauty and cleanliness of Dubai. 

Participants are given various tasks including collecting general waste from identified sites, providing the needs in a field work as well as tools to store recyclable materials for future purposes. As part of the event, the Dubai Municipality also held workshops and seminars with private entities to raise awareness about the importance of segregating waste from the source. Other topics include the negative impact of plastic waste and how to transform these issues into an opportunity. 

The civic body also highlighted that it continues to create awareness on promoting sustainable development as well as engage community participation in environmental initiatives to ensure the cleanliness of the city and preserve the beauty of the natural environment.