Dubai Chamber of Commerce launches Solar & Renewable Energy Business Group
Positioning Dubai as a hub for the green economy
- AlGargawi: The establishment of the Solar & Renewable Energy Business Group is timely and relevant, highlighting the importance of the country’s Energy Strategy 2050 and Dubai’s Clean Energy Strategy. It will foster better understanding of clean energy targets amongst local businesses and boost their efforts to support and accelerate Dubai’s energy transition and the ambition of making the emirate a hub for the green economy.
- With renewable energy at the forefront of the government agenda, the chamber’s establishment of the new Solar & Renewable Energy Business Group is a significant step in supporting the UAE as it prepares to host the COP28 Conference in 2023.
Dubai, UAE – Dubai Chamber of Commerce, one of the three chambers operating under Dubai Chambers, has launched the Solar & Renewable Energy Business Group. Gearing up for COP28, the business group will drive the uptake of renewable energy amongst businesses and the private sector in Dubai. Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.
“As the world shifts to renewable energy and a decarbonized economy, the establishment of the Solar & Renewable Energy Business Group is timely and relevant. It comes at the heels of UAE’s COP28 presidency, highlighting the importance of the country’s Energy Strategy 2050 and Dubai’s Clean Energy Strategy. The business group will foster better understanding of these clean energy targets amongst local businesses while providing them insights to drive the shift to renewable energy. This will boost their efforts to support and accelerate Dubai’s energy transition and the ambition of making the emirate a hub for the green economy,” said Maha AlGargawi, Executive Director of Business Advocacy at Dubai Chambers.Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.
Over the last couple of decades, the share of oil in the UAE’s gross domestic product (GDP) has considerably decreased. From approximately 43 per cent in 2001, this share dropped a third of GDP to 33 per cent in 2011 and much lower to 27 per cent in 2021. The UAE is well on its way to achieve its clean energy targets as outlined in the UAE Energy Strategy 2050.Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.
Announced in 2017, the UAE Energy Strategy 2050 aims to reduce carbon footprint on power generation by 70 per cent, improve energy efficiency by 40 per cent, increase the contribution of clean energy from 25 per cent to 50 per cent and save a total of AED700 billion. The UAE has since launched notable initiatives and taken significant steps towards realising these goals by 2050. The UAE Government will invest AED600 billion in renewable energy by 2050 to meet the country’s growing energy demand from clean and sustainable resources. Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.
Dubai launched its own Clean Energy Strategy in 2015, with the objective of producing 75 per cent of its energy demand from clean sources by 2050, making Dubai a hub for the green economy. One landmark project in solar energy is the Mohammed bin Rashid Al Maktoum Solar Park in Dubai which it is expected to have a production capacity of 5,000 MWh by 2030. Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.
L K Verma, Managing Director at Power n sun and founding member of the business group said, “Creating organizations such as this is important for our sector. It will drive the discussions that are necessary to enhance the competitiveness of our business and enable the dialogue amongst peers and other stakeholders on speeding up the solarization in the region.”Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.
Fellow founding member, Simon Brennan, General Manager at Al Shirawi Solar added, “I am very pleased to have been part of the setting up of this business group. It underlines the importance of environmental sustainability and I am certain with the establishment of this business group, our members will play a bigger role in supporting the UAE’s clean energy ambitions.”Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.
With renewable energy at the forefront of the government agenda, the chamber’s establishment of the new Solar & Renewable Energy Business Group is a significant step in supporting the UAE as it prepares to host the COP28 Conference in 2023.Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.
The chamber plans to increase the number of business groups that represent economic sectors and activities in Dubai as they are representatives and advocates for their respective business sectors. Business groups play a crucial role in recommending policy changes to improve a sector’s competitiveness and attractiveness while promoting international best practices and supporting economic growth. Dubai Chamber of Commerce plans to increase the number of economic sectors and activities represented by business groups to 100 by March 2023.
Other News
Maha Al Gargawi: “This valuable platform will serve as the voice of the Georgian business community in Dubai, paving the way for enhanced advocacy that will contribute to the sustainable success of companies from Georgia in the emirate.” Dubai, UAE – Dubai Chamber of Commerce, one of the three chambers…
Read more
Khalid Al Jarwan: “The chamber’s attestation service plays a key role in enhancing the trust and credibility of all documents processed through this vital service.” The chamber recorded 17.3% growth in the number of customers accessing its attestation service during the first six months of this year. Dubai Chamber of…
Read more
Mohammad Ali Rashed Lootah: “The Dubai Chamber of Commerce ESG Label addresses the need for a holistic approach to sustainable business practices that benefits society and the environment, while also supporting our mission to promote good governance and ethical business practices.” The label’s development frameworks relied on a comprehensive evaluation…
Read more
3,968 new Pakistani companies and 2,355 new Egyptian companies joined the chamber’s membership. Syrian companies secured fourth place on the list with 1,358 new additions to the chamber’s membership. 1,245 new companies from the United Kingdom joined the chamber’s membership during H1 2024, followed by 1,119 new Bangladeshi companies. Iraq…
Read more
Non-GCC Middle Eastern countries contributed 23.9% to total exports, with a combined value of AED 34.9 billion. Africa ranked third, with 9.9% of exports valued at AED 14.5 billion. The Asia-Pacific region ranked fourth, accounting for 9.2% of exports with a value of approximately AED 13.4 billion. Dubai, UAE –…
Read more