MoIAT called on entrepreneurs, innovators and technology startups to participate in COP28 and to explore investment opportunities the UAE offers in financing climate action….reports Asian Lite News
The Ministry of Industry and Advanced Technology (MoIAT) hosted three sessions at the UAE Climate Tech forum to support and promote innovation and entrepreneurship in the fields of green technology and climate action. The sessions were held ahead of COP28 as part of MoIAT’s contribution to the country’s climate neutrality targets. The three sessions focused on the UAE’s investment, innovation, technology and entrepreneurship ecosystem, a key pillar of COP28, set to take place in November at Expo Dubai.
Sarah Al Amiri, Minister of State for Public Education and Advanced Technology, said: “In line with the objectives of the National Strategy for Industry and Advanced Technology, the Ministry of Industry and Advanced Technology is developing an industrial sector that is underpinned by advanced technology, research and development, and sustainability. This foundation contributes to the UAE’s climate neutrality targets as well as to national efforts to achieve sustainable economic and industrial development.”
She emphasised that the UAE has adopted a practical, pragmatic, and realistic approach to decarbonization across all levels of the value chain, creating an enabling environment to drive climate action through policies, financing, technology, and partnerships.
The minister added: “Promoting entrepreneurship, research and innovation in the industrial sector, especially in climate technology, is among the ministry’s key priorities in driving in climate action. The UAE Climate Tech forum is a key platform that brings together the relevant ecosystem players to accelerate game-changing climate tech solutions. The forum is in line with the UAE’s preparations to host COP28 and showcases national efforts to transform into a global hub for sustainable industries and advanced technology.”
MoIAT called on entrepreneurs, innovators and technology startups to participate in COP28 and to explore investment opportunities the UAE offers in financing climate action. Climate technologies will be a key topic at COP28, which will also showcase the UAE’s industrial sustainability best practices, as well as efforts to encourage the adoption of emerging green technologies.
During the sessions at UAE Climate Tech, the ministry shed light on entrepreneurial success stories within the green technology field, showcasing the UAE’s supportive ecosystem and the opportunities the country offers to startups. The sessions also highlighted incentives and enablers that promote the growth of technology companies, as well as support for entrepreneurs and investors.
The first session, hosted in partnership with the COP28 team, explored the conference’s Technology and Entrepreneurship Program, and its role in promoting innovation and technology globally for a climate-neutral world. The session focused on showcasing technologies and facilitating partnerships to enable entrepreneurship and promote innovation as an important pathway towards a sustainable economy.
The session also provided an overview of partnership prospects at COP28, touching upon priorities for a more successful energy transition and technological progress to decarbonize at-scale, delivering climate action across the value chain. Participants also stressed the importance of partnerships and international cooperation in accelerating technological change.
The ministry hosted two roundtable titled ‘Climate Technology Exchange’, which included the participation of representatives from climate technology startups, in addition to representatives from the Emirates Development Bank, ADNOC, Dubai Electricity and Water Authority, the STARTAD program, Catalyst, Strata, TAQA, IBM, Abu Dhabi Investment Office, Masdar, Bourouge and AIQ artificial intelligence.
The roundtables highlighted the UAE’s ecosystem in enabling climate technology startups, through incubating program, financing, pilots and partnerships. The session also discussed the role of the government and private sector in promoting the adoption of climate technologies in line with the UAE’s sustainability targets.
A third session, led by MoIAT in partnership with the United Nations Industrial Development Organisation (UNIDO), comprised a roundtable on boosting private sector partnerships as part of climate action efforts, and demonstrating the impact of the industrial sector in providing innovative technological solutions to promote the energy transition and decarbonization. The session was attended by representatives from MoIAT, UNIDO, Siemens, and Schneider Electric.
The UNIDO session also touched upon decarbonizing heavy and hard-to-abate industries such as cement, iron and petrochemicals. It also discussed the pivotal role of advanced technologies, financing, and policies in growing demand for low-carbon energies and boosting strategic partnerships across markets.