Dr Abdulrahman Al Ansari examines reports which suggest that the United Arab Emirates (UAE) will create over 100,000 ‘green’ jobs during the next 15 years.
Saeed Mohammed Al Tayer, Vice Chairman of the Dubai Supreme Council of Energy (DSCE), recently delivered the keynote speech at the launch of the UAE’s State of the Green Economy report. This paper sheds light on how the Emirates plans to develop its “green economy” in the future. Regional news agency 7 Days UAE reports Al Tayer revealed that the Emirates plans to lower greenhouse gas emissions by 16% by 2020 and use 24% clean energy by 2021. He also suggested that the country is on track to create 160,000 “green collar” jobs throughout its renewable energy sector by 2030. The DSCE Vice President predicted that this will increase the UAE’s gross domestic product (GDP) by between 4% and 5% during the corresponding frame of time.
Commenting further, Al Tayer said: “Through the establishment of [green] initiatives that motivate innovation, it serves the greater good of humanity.” Expanding on this point, the DSCE Vice Chairman explained: “The report also sheds the light on policies through which the UAE aims to transform into a model of Green Economy. The UAE is confirming its dedication to combating climate change by increasing its share of renewable energies.”
Al Tayer went on to explain how the UAE will reduce greenhouse gas emissions and increase clean fuel adoption. Commenting further, he said: “The process of financing the transition to a low-carbon economy requires precise and accurate implementation of all governmental policies… This report is a reference when it comes to best practices and successful business models as it focuses on new opportunities.”
The Chairman of the DSCE also shed more light on the “Dubai Green Fund.” Another aspect of the UAE’s plan to develop its green economy, the Dubai Green Fund is a staggering Dhs100 billion monetary facility designed to encourage innovators to find green solutions to the city’s energy issues. Elaborating, he said that “this will facilitate financing tools for investors in the field of clean energy.”
Leading on green issues Implementing green initiatives can provide major economic benefits. Climate Action Programme indicates that a massive US$6.22 trillion was invested in the global green economy between 2007 and mid-2015. Through focusing on green investment, the UAE can tap into an increasingly booming global market to create jobs and provide its economy with a significant boost. An article published by The National, a regional news site, suggests that by undertaking large-scale green initiatives, the UAE has become a global leader in this field. However, the piece argues that investing in research and innovation is key to ensuring that the Emirates can turn itself into a fully green, sustainable economy. By implementing plans such as the Dubai Green Fund, the Middle Eastern country could cultivate the innovative solutions required to tap into its full green potential.
Abdulrahman Al Ansari has more than 18 years of experience in the global financial services industry. He serves as the chairman of a number of reputable financial firms including AMA Investment Holding and Bid Capital Management Consultancy.
Abdulrahman’s professional portfolio encompasses a diverse range of sectors from commodities and natural resources to education, healthcare, oil & gas and investment banking. He has earned a reputation as an innovator, who consistently develops new ideas and solutions to address the complex and demanding challenges which confront his clients every day. Over the years, Abdulrahman has cultivated a special interest in the continued economic and community development of the UAE.