The 11th edition of the Global Summit on the Green Economy has kicked off in Dubai, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. This event continues the UAE’s leadership in global climate action.
During the opening address, Saeed Mohammed Al Tayer, Vice Chairman of the Supreme Council of Energy in Dubai and CEO of Dubai Electricity and Water Authority, emphasized that thanks to the vision and guidance of our leadership, the UAE is at the forefront of the transition to a sustainable green economy. The Global Organization for the Green Economy, which has 91 member countries, has successfully rallied efforts from governments, the private sector, academic institutions, and international organizations to promote green economy projects. He noted that the global green economy is expected to reach a valuation of $7.9 trillion by the first quarter of 2025, marking revenues exceeding $5 trillion for the first time.
He further added that clean and renewable energy is gaining increasing importance as a core component of the new global economy, with the green economy projected to grow at a compound annual rate of 15.6%, reaching approximately $30 trillion by 2033.
Investment in low-carbon energy transition has also surged by 11%, hitting a record high of $2.1 trillion in 2024, according to specialized global reports. This global momentum reflects a clear trend towards enhancing clean and renewable energy, with renewable energy generation capacity expected to rise by 84% over the next five years until 2030, and likely to double by 2050.
Leadership
Al Tayer pointed out that Dubai is not just part of this transformation but is leading it, having exceeded established goals with clean energy now accounting for 21.5% of the total energy mix. We are celebrating ten years since the launch of the first independent power producer project at the Mohammed bin Rashid Al Maktoum Solar Park, the largest solar energy complex globally, which serves as a global model reaffirming our commitment to achieving carbon neutrality by 2050.
We are pleased to announce that by 2030, the solar park’s capacity will exceed 8,000 megawatts, surpassing the original target of 5,000 megawatts, with a reduction in carbon emissions by more than 8.5 million tons annually. Consequently, the share of clean energy is expected to rise to 36%, compared to an initial target of 25%.
Artificial Intelligence
Moreover, by embracing modern technologies such as artificial intelligence and solar tracking, we have managed to double the efficiency of photovoltaic panels in our projects from 11% to 24%, increasing production without the need for additional land. The area required to produce 100 megawatts has been reduced from 2 km² to only 1 km², demonstrating the crucial role of innovation in accelerating the shift towards a sustainable future.
He noted that the impact of innovation extends to energy storage, a vital component for stabilizing power grids reliant on renewable sources. In Dubai, we are keeping pace with this trend through the fourth phase of the Mohammed bin Rashid Al Maktoum Solar Park, which features the largest thermal energy storage capacity in the world, as well as the seventh phase, which will have a production capacity of 2,000 megawatts using photovoltaic technology and will include a battery storage system with a capacity of 1,400 megawatts for six hours.
Al Tayer stated that the UAE has ranked second globally and first regionally in the 2025 Artificial Intelligence Index, according to a recent report from American data center solutions firm TRG. It is anticipated that AI will contribute approximately AED 350 billion to the UAE’s economy by 2030, representing 14% of the GDP, further underscoring the necessity for strengthening a robust, flexible, and sustainable infrastructure.
Theme
The theme for this year’s summit is “Impactful Innovation: Accelerating the Future of the Green Economy”. This is not merely a slogan, but a roadmap for climate action that embodies inclusivity and justice while envisioning future possibilities. True innovation is the primary driver in developing effective and sustainable solutions to combat climate change challenges and achieve future-oriented sustainable practices.
Inspiring Stories
During the summit, we will present inspiring stories about harnessing innovation and AI for emissions monitoring, predicting climate risks, and the role of the Internet of Things in enhancing resource efficiency, reducing carbon emissions, and increasing resilience to climate impacts, along with how big data is shaping decision-making processes.
This year’s summit will also honor 33 winners of the fifth edition of the UAE Energy Award, organized by the Supreme Council of Energy in Dubai, under the theme “Enhancing Carbon Neutrality,” attracting 250 submissions from 24 countries.