Dubai’s role in COP28 and the long-term impact on the economy

Dubai’s role in COP28 and the long-term impact on the economy

Op-ed by Hisham Al Gurg, CEO of Seed Group and the Private Office of Sheikh Saeed bin Ahmed Al Maktoum

In the heart of Dubai, a monumental event is about to unfold that will not only shape the global narrative on climate change but also usher in transformative opportunities for our city’s economic landscape. On November 30, the city will open its doors to world leaders for the 28th Conference of Parties (COP28), offering it the unique opportunity to take centre stage and demonstrate its readiness for a green future.

The significance of COP28 extends beyond the immediate environmental discussions and policy deliberations, serving as a catalyst for long-term economic development, particularly for small businesses and sustainability tech startups in the emirate. As an Emirati, I am optimistic about the positive ripple effects that hosting such a prestigious event can have on our local economy.

Firstly, COP28 offers Dubai an invaluable opportunity to showcase its commitment to sustainability and innovation on a global stage. Our leadership’s dedication to hosting COP28 demonstrates Dubai’s active role in pursuing eco-friendly initiatives. The city’s small businesses and startups have already started adopting green policies in preparation for COP28, and the government has been actively supporting them. This increased focus on sustainability is sure to be beneficial over the long term, creating lasting positive effects into the future.

The global stocktake, a key feature of COP28, will allow the UAE to reassess and potentially update its climate action plans. This adaptive approach aligns seamlessly with Dubai’s ethos of continuous improvement and forward-thinking. It creates an environment conducive to innovation, enticing local businesses to explore new avenues and contribute to the green economy.

The summit also opens doors for collaboration and partnerships between local enterprises and international entities invested in sustainable practices. The exchange of technologies and resources can foster a vibrant ecosystem of innovation, propelling Dubai to the forefront of the sustainability and climate action landscape.

Moreover, COP28 encourages public engagement, which is an inclusive approach to empowering our community to actively participate in shaping the climate change conversation. Grassroots projects planned around the city will give venues for individuals, businesses, and entrepreneurs to contribute their ideas and solutions, building a sense of shared responsibility in the fight against climate change.

Dubai’s strategic positioning as the host city for COP28 is a clear investment in our future. This prepares the stage for long-term economic growth, with an influx of delegates and participants aiming for sustainable growth in sectors such as sustainability, renewable energy, and environmental technology. Furthermore, it serves as a platform for investment in sustainable initiatives and renewable technologies, ensuring a brighter future for future generations.

To say the least, COP28 is expected to leave a lasting effect on the region and beyond, establishing Dubai as a premier model for sustainable progress.

As hosts of COP28, we open our doors to the world with a spirit of openness and ambition. We seek to spark a chain reaction of positive transformation – from small businesses to startups – that will ensure that our dreams for a better tomorrow come true. In less than a week, we will all welcome the limitless potential for economic and environmental transformation that COP28 presents, and this is our invitation to the world to join us in writing a new chapter of hope and sustainability.

1 Response to Dubai’s role in COP28 and the long-term impact on the economy

  1. Madhup Verma says:

    VTeamLabs as a member of Catalyst2030 and part of its US Chapter is already committed to 2 of the UN SDGs that are Quality Education and Infustry Innovation through its products and solutions capabilities in Industry4.0.

    Our aspirational goal at scaling our efforts internationally have started bearing fruits and we can’t wait to come out to Dubai to spread our wings a bit further.

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