Investment in renewable energy was lauded as a “global opportunity” by delegates attending discussions at Abu Dhabi Sustainability Week (ADSW) 2013.
Some 30,000 people from across the energy and environment spectrum are in line to attend the event, which began on Sunday and runs until Thursday.
Discussions on day two concentrated on how to encourage greater private investment in clean energy and other low-carbon projects, in an attempt to mitigate the worst effects of climate change.
“This is an important agenda. Not just for the environment but for business”, said energy minister Greg Barker, attending the talks.
“The opportunities for the global, low-carbon economy are huge and growing at an exponential rate.
“Clean energy and a range of resource efficient projects can expect growing interest in attracting investment as new financial participants crowd into this fast developing market.”
Just over 300 miles away in Doha, Qatar, government officials gathered in November for the 18th Conference of the Parties (COP18) – two-week long climate change negotiations. Discussions stalled, though, with many people concluding that delegates had failed to show the political leadership and ambition needed in order to come to a binding agreement on climate.
But the sentiments emerging from ADSW will go some way to restoring confidence in governmental action.
Dr Sultan Al Jaber, UAE special envoy for energy and climate change and CEO of Masdar, added that climate change should be viewed as an “economic opportunity” – one that would spur on growth and promote sustainable development.