Dubai:The second day of the 12th World Green Economy Summit (WGES) was marked by high-level panel discussions focusing on the role of finance, technology, policy, and innovation in advancing a resilient and inclusive green economy. The event explored various themes including green and blended finance, clean energy, climate resilience, and the integration of artificial intelligence (AI) in sustainable solutions.
According to Wam, the session titled "Blended Finance Unlocking the Power of Innovative Solutions" featured discussions on overcoming barriers to private investment in sustainable projects. Participants, including Senegal's Minister of Environment Dr. Aliou Gori Diouf and HSBC's Naveen Raza, emphasized the use of blended finance, guarantees, and public-private partnerships to mitigate risks and attract investments.
Another key session, "The Business Case for Climate Resilience," highlighted the importance of investing in natural resources and sustainable business practices. Panellists, including leaders from Emirates Nature-WWF and First Abu Dhabi Bank, discussed the necessity of partnerships among governments, businesses, and communities to enhance resource efficiency and climate risk assessment.
In a session focused on AI's impact on energy systems, experts, such as Microsoft’s Bilal Khursheed, underscored AI’s potential to optimize energy systems and improve grid reliability. They stressed the necessity of investment, modern infrastructure, and international partnerships to ensure equitable access and benefits from AI-driven energy transformation.
The summit also examined the role of green bonds and sukuk in financing the GCC’s transition, calling for harmonized green taxonomies and independent verification to counter greenwashing. Speakers advocated for turning climate commitments into bankable projects, leveraging private capital for emissions reductions and climate adaptation.
Discussions on clean water highlighted reverse osmosis and next-generation technologies as essential for addressing global water scarcity. Participants noted the urgent need for significant investment and public-private partnerships to meet the projected demand-supply gap.
The summit concluded with sessions on AI-driven automation, green-economy opportunities, and food production technologies, each emphasizing the need for technological alignment with market and investor needs to drive sustainable growth.