KHALEEJ TIMES, Thursday, Dec 24, 2020 | Jamadi Al Awwal 9, 1442
Dubai Economy sharpens focus on Circular Economy
Emirates:
Dubai Economy is strengthening its initiative launched earlier this year
to bring together key industry sectors and stakeholders in an
all-encompassing journey towards transitioning Dubai into a circular economy
in line with the vision of the leadership and strategic plans of the
government.
The move has gained fresh momentum with Sheikh Hamdan bin Mohammed bin Rashid Al
Maktoum, Crown Prince of Dubai and Chairman of the Executive Council of Dubai,
recently approving the 2021 Agenda of the Council, which has ‘Creating a Digital
and Circular Economy’ among its key objectives.
The 2021 agenda of The Executive Council of Dubai aims to promote excellence in
all sectors and introduce innovative initiatives to enhance government services
and further raise Dubai’s competitiveness. The circular economy plan of Dubai
Economy not only seeks to contribute towards the Agenda but also position Dubai
towards sustainable progress and prosperity over the next 50 years as envisioned
by the leadership.
Sami Al Qamzi, director general of Dubai Economy, said: “Like in the past,
Covid-19 too has become an opportunity for Dubai to learn from adversity and
turn it into an opportunity. The pandemic added new momentum to the digital
transformation in the emirate and has given us enough examples on the most
prudent use of existing assets and resources. Dubai Economy is pleased to have
pioneered a circular economy campaign to optimise resources and minimise waste,
in line with our focus on sustainable economic development in the emirate. We
are now moving to the next level, engaging with key industry sectors to build on
existing opportunities to expedite the circular economy transition.”
Unlike traditional linear economy, circular economy focuses on improving
resource efficiencies and reducing/eliminating waste to the highest extent by
depending on re-use, sharing, repair, regeneration, re-manufacturing and
recycling. The global market potential for circular economy is over $1 trillion.
Dubai is best positioned to be an exemplary circular economy given its
increasing adoption of advanced technologies in resource management.
As a first step, Dubai Economy launched a series of workshops (hacks) in 2019 on
the circular economy transition and related challenges as well as opportunities.
The hacks were organised within the framework of the Future Economy Lab of Dubai
Economy, launched to encourage partnerships between the public as well as
private sectors and the academia in foreseeing challenges resulting from global
trends and changes, and proposing appropriate solutions.
The introductory hack brought together 50 key stakeholders, including
sustainability enthusiasts, regulators, corporates, start-ups and NGOs, to
propose solutions that would accelerate the transition, particularly across six
key dimensions - market readiness, innovation, funding & capital, skills
development, regulatory readiness and an adaptive mindset.
With the global outbreak of Covid-19 underlining the importance of food security
and local manufacturing, Dubai Economy brought the manufacturing, real estate
and food & agri-business sectors into the centerstage of the circular economy
campaign and hack series.
Mohammed Shael Al Saadi, CEO of Corporate Strategic Affairs at Dubai Economy,
underlined the importance of translating the vision and strategic plans of the
UAE and its emirates, including the UAE Vision 2021 Abu Dhabi Economic Vision
2030, Dubai Industrial Strategy 2030 and the Future Foresight programme, into
opportunities for innovations in optimal resource utilisation and energy
consumption.
“I am delighted that the hacks generated a high level of participation from the
circular economy stakeholder community. The energy and intellectual output were
very high. I believe that Dubai has a great opportunity to invest and benefit
from all the efforts of stakeholders to implement initiatives that will propel
us to the next level of economic growth based on the circular economy model,” Al
Saadi added.
The first sector-focused hack on manufacturing had its emphasis on localising
global supply chains and attracting investments, particularly into sustainable
manufacturing and positioning Dubai as circular economy for innovation-driven
industries and halal products.
The second hack evaluated global and local trends in the real estate &
construction sector as well as the advantages Dubai has in evolving into a
modern, sustainable city in the backdrop of the long-term changes being set off
by urbanisation and industrialisation. The opportunities of circular economy on
the future design of buildings, better resource & waste management and
environmentally-friendly real estate design & architecture were also discussed.
Disruptive technologies and innovations in food production, processing and
consumption to achieve sustainable food security, particularly in the backdrop
of the growing concerns on food production outpacing demand climate change and
rapid urbanization were highlighted in the third hack of the series. A major
focus of the hack was on the potential impact of circular economy in the areas
of minimising food waste, recycling food waste and food packaging.
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