Realising UAE Net Zero 2050 to ‘grow country’s GDP to $1trln’

Published on March 8, 2024

Realising UAE Net Zero 2050 could help the country grow its GDP by approximately $1 trillion, says Green Future Project (GFP), a B-Corp providing corporate sustainability solutions.

Briano Martinoni, Co-founder and Chief Commercial Officer at GFP, details why UAE stakeholders play in achieving this realisation.

By 2080, collaboration between federal and local governments, the private sector, and communities could yield an extra AED70 billion ($19.1 billion), with investments offset by long-term cost savings, notably from reduced fossil fuel use.

Green efforts

Policies like the Dubai 2040 Urban Masterplan and corporate green initiatives are pivotal for building a resilient future. A recent survey showing that 91% of businesses globally struggle to measure their greenhouse gas emissions reinforces this notion. Despite only seven UAE businesses being certified B-Corps out of 6,700 worldwide, as environmental awareness grows, UAE organisations must intensify their green efforts for the country’s sustainable goals.

Briano explained: “The data speaks for itself, showing that companies can experience a 15-30% brand value increase by simply adopting sustainable practices. Younger generations are driving environmental change on a global scale but they can only do so much – the onus falls on governmental entities and businesses to ensure a greener world is created for future inhabitants of our planet.

“This notion is reinforced by the fact that Scope 3 emissions (indirect emissions that occur in the value chain of any reporting entity) account for 40-80% of a company’s total carbon footprint, and sometimes even exceed 90%. Companies are increasingly adopting carbon footprint monitoring tools and this is a welcome sign since it will enable informed decision-making and accelerate positive change.”

GFP is helping advance the UAE’s green objectives while contributing to key governmental mandates such as UAE Net Zero 2050. The company is working with UAE-based organisations in sectors including digital banking, hospitality, real estate, communications, and finance to help them pioneer sustainable action across the region. 

Source: TradeArabia


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