Tag Archive | "economic development"

Dubai carbon reduction – a $10bn opportunity

Dubai carbon reduction initiatives across renewable energy generation, smart grid and buildings’ energy efficiency, will spur government spending and private investment of over $10 billion in the coming years, according to Waleed Salman, Chairman of Dubai Green Economy Partnership.

Salman made his comments at the inaugural Green Leadership and Stakeholders’ Dialogue series, an initiative of the Dubai Green Economy Partnership.

Salman said: “Dubai sets a regional and global example for sustainable economic growth and tangible reductions in carbon emissions thanks to the Dubai Integrated Energy Strategy 2030, which aims to reduce energy consumption by 30% and reducing carbon emissions by over 5 million tonnes.”

Fahad Al Gergawi, Secretary General of Dubai Green Economy Partnership, and CEO of Dubai FDI in the Department of Economic Development in Dubai, presented Dubai Green Economy Partnership 2015 global agenda. He provided insight into how Dubai is forging global partnerships to establish its position as a gateway for regional and global green trade and investments.

The session was moderated by Ivano Iannelli, CEO of Dubai Carbon, and included an overview of Dubai’s enabling ecosystem which helps to accelerate the adoption of green technologies, products and services across the region by Marwan Abdulaziz, Executive Director of TECOM Sciences Cluster.

Stephane Le Gentil, CEO of Etihad Energy Services, a Dubai Electricity and Water Authority (DEWA) venture established this year to support the creation of a viable building energy efficiency services market, shared some eye opening remarks about the business prospects for energy services companies (ESCOs).
She said: “The Dubai ESCOs market will provide new business opportunities for joint ventures, international partnerships as well as engage UAE national entrepreneurs. This will be possible through a diversified supply chain from financial institutions, technology providers and equipment manufacturers to service providers across the project development, management and reporting stages.”



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Leadership is top priority for business sustainability says new study

Sustainability endeavors continue despite the economic downturn, but study highlights opportunities to further embed them throughout organizations and business strategies

  • Senior leadership engagement is the most frequently (44%) cited factor in determining the success of companies’ sustainability strategies over the next three years
  • Leading companies need to advocate sustainability benefits to encourage adoption by the wider business community
  • Challenges still exist with perceived high costs and lack of belief in rate of returns

Senior leadership is regarded as the most critical driver of sustainability within a business and nearly half of businesses (44%) believe engagement with business leaders will be the most important factor in successfully implementing a sustainability strategy over the next three years.

At board level, 28% have periodic meetings addressing sustainability, but only 18% of companies have directors who assess the success of sustainability initiatives.

These are the findings of Sustainability Insights: Learning from Business Leaders by the Economist Intelligence Unit (EIU). The research, based on a survey of more than 300 European business executives explores how businesses’ sustainability strategies have performed in recent years and identifies the key drivers for future success.

“Despite the challenging economic environment, companies have largely stayed with their sustainability goals. What we are seeing now is a real shift to mainstream sustainability-related initiatives in Europe. Companies are learning how to better integrate this into their businesses profitably. There is still a lot of room to improve but this is a profoundly positive change,” said Brian Gardner, senior editor at the Economist Intelligence Unit.

More Compelling Business Case for Sustainability Required

The research identifies the need to build a stronger business case to convince the wider European business community of the value of putting sustainability at the heart of its operations. While 52% of companies have been able to maintain their sustainability agenda despite the economic downturn, almost half (44%) of respondents report that the biggest barrier to implementing a sustainability strategy is perceived high costs, coupled with a lack of belief in rates of return.

For those companies that recognise the value of sustainability, the benefits they cite include differentiation from competitors (32%) and enhanced stakeholder engagement (29%). While only one in five (21%) cite boosted profits as a key benefit of their sustainability endeavours.

Innovation, Collaboration, and Technology are Critical

Sustainability Insights: Learning from Business Leaders explored innovation, collaboration and technology as important components of the disruptive approaches needed to drive the next era of sustainable business. This is essential if organizations are to achieve the breakthroughs needed to accelerate progress towards improved sustainability.

Leading companies are increasingly turning to collaboration to maximize resources and intelligence. Nearly a third of businesses (32%) now work with competitors to seek out ideas for sustainability innovation, and a similar number (27%) work with NGOs and civil society. Over the next three years, businesses say that partnerships will be important contributors to driving sustainability success.

More than a quarter of companies (28%) believe technological innovation will also drive the success of their sustainability strategy in the next three years. Additionally, 61% say that technological developments contribute to sustainability-related innovations, and 41% say they’ve successfully harnessed technology to improve their environmental impact.

“We are proud of the progress we have made on our own sustainability journey, but the next era of sustainable business will be led by more meaningful collaboration. Working with government and society, we all need to identify the innovations that will address the significant societal and environmental issues of our time,” said John F. Brock, chairman and chief executive officer at Coca-Cola Enterprises, which commissioned the EIU report.

Sustainability Insights: Learning from Business Leaders was launched at the Sustainability Innovation Summit yesterday (October 1, 2013)





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Current Issue October 2013