COP28: Dubai businesses focus on restructuring business models to support sustainability

Dubai Chambers today organised a meeting to bring the COP28 UAE Presidency and Dubai’s business community together to discuss how the private sector can engage and benefit from the journey towards COP28.

The meeting reaffirmed that businesses of all sizes across all sectors must revisit their business models and restructure it towards supporting sustainable development.

The event also stressed that the UAE recognises the immense potential that climate action has in driving socio-economic growth, creating jobs, empowering women and youth, as well as strengthening overall economy sustainably for the future.

Commenting on the opportunities for the private sector, Majid Al Suwaidi, Director-General, COP28 UAE Presidency, said,

“As one of the most dynamic hubs for business in the world, Dubai is home to some of the most innovative and exciting companies on the planet. This will be a huge asset to the UAE when we host the UN COP28 climate conference in Dubai next November, and we will be counting on our business community to play a leading role in making COP28 UAE a landmark moment for global progress against climate change.”

A panel discussion that hosted speakers from major companies in the UAE, elaborated on the initiatives that have been put in place to further their company’s respective sustainability agendas. It also discussed other plans in the pipeline that centre around climate action and how the business community can support COP28.

Maha Al Gargawi, Executive Director of Business Advocacy at Dubai Chambers, added,

“As host of COP28, the UAE has an opportunity to strengthen its position and reputation as a leader in climate action, where the environment takes centre stage in the country’s ambitious economic development agenda in the years to come. To that end, the government and private sector need to work in lockstep, and partnerships between the two become more important than ever.”

Speakers at the panel discussion included Sabrin Rahma, Director of Domestic Engagements, COP28 UAE; Yasmine Berbir, Head of Sustainability, Nestlé Middle East FZE; Florence Bulte, Chief Sustainability Officer, Chalhoub Group; Raji Hattar, Chief Sustainability Officer, Aramex. The session was moderated by Dr. Kamel Mellahi, Senior Manager, Dubai Chamber of Commerce Centre for Responsible Business.

The UAE has made tremendous strides in sustainability, carbon neutrality, and environment preservation with a series of ambitious initiatives and projects designed to shape an economy based on renewable and clean energy, advanced technologies, and eco-friendly business.

The latest among these are the UAE Net Zero by 2050 Strategic Initiative, which aims to achieve net-zero emissions by 2050, making the UAE the first country in the region to do so.

News Source: Emirates News Agency