SHARM EL SHEIKH, 12th November, 2022 (WAM) — The Ministry of Climate Change and Environment (MOCCAE) introduced the second edition of the UAE Green Business Toolkit in partnership with the Global Green Growth Institute (GGGI), as part of its participation in the 27th United Nations Climate Change Conference (COP27), held in the Egyptian city of Sharm El Sheikh.
The move aligns with the UAE’s pathway to net-zero and supports sustainable economic development.
The launch took place during a session, headlined by Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment, and moderated by Helena McLeod, Deputy Director-General of GGGI.
Almheiri said, “Our ability to tackle the challenge of climate change and deliver tangible results in its mitigation and adaptation depends on the active participation of all sectors in our net-zero efforts. Therefore, the UAE prioritises private sector engagement in all its future plans. The Toolkit is part of MOCCAE’s efforts to enhance the contribution of private sector companies to the fight against climate change by adopting green and sustainable practices in line with the objectives of the UAE Net Zero by 2050 Strategic Initiative.”
The UAE Green Business Toolkit 2.0 seeks to benefit from the business sector’s increasing awareness about the importance of achieving net-zero and building a low-carbon economy.
The document offers a comprehensive definition of the net-zero concept, explains its role in creating new business opportunities and reducing operating costs in the long term, and highlights the gains that come with the pursuit of a net-zero strategy. These include strengthening investor confidence and customer loyalty as well as boosting global competitiveness and the ability to attract talent.
The second edition also draws a roadmap for developing an integrated company net-zero strategy. It outlines a four-step approach that involves measuring greenhouse gas (GHG) emissions, setting emission reduction targets, implementing measures to reach the targets, and linking the targets with the country’s economy-wide decarbonisation efforts.
In order to provide the private sector with a clear understanding of the benefits of the green business ecosystem, MOCCAE launched the National Dialogue for Climate Ambition (NDCA) in May 2022. The series of stakeholder assemblies, dedicated to a different industry every month, explores sectoral requirements, priorities, and future directions related to climate neutrality.
The UAE Green Business Toolkit 2.0 outlines 92 measures businesses can take to become greener, such as switching to clean sources of energy, electrifying the company vehicle fleet, and replacing conventional raw materials with low-carbon alternatives.
MOCCAE launched the first edition of the UAE Green Business Toolkit in 2018 with the intent to inspire all types of companies nationwide to take the first step to becoming more eco-friendly and socially responsible by creating awareness.
It provided businesses, whether established or emerging, with all the information necessary to green their operations with a focus on three main areas – green offices, green procurement, and green products – and defined optimal implementation mechanisms.
In the four years since, public awareness of the critical need for sustainability has seen tremendous growth.
Notwithstanding mounting adverse climate-related impacts, the need to prioritise sustainable practices has only become more pronounced during the COVID-19 pandemic. As the UAE economy pursues its green recovery plans, increased attention is required to manage environmental, social, and climate-related risks to prevent future disruptions.
The second edition of the Toolkit supports the country’s ambition to reduce GHG emissions to net-zero by 2050, as well as the Principles of the 50, the UAE Green Agenda 2015-2030, and the National Climate Change Plan of the UAE 2017-2050.
Going green offers businesses multiple benefits and creates new growth opportunities. In addition to protecting the environment and conserving natural resources, it cuts down on operational costs, reduces waste, and boosts product competitiveness, with environmental friendliness becoming an important global quality standard. The application of green economy principles in the workplace also enhances employee health and happiness and improves customer satisfaction.
The UAE Green Business Toolkit 2.0 aims to build on the capacity of companies to adapt to a global economy in transition, and mobilise the private sector to dedicate resources to contributing to the country’s climate targets.