While nations will ultimately recover from the COVID-19 pandemic, addressing the climate crisis will require more far-reaching social and economic change, Masdar Chief Executive Officer Mohamed Jameel Al Ramahi said in a keynote speech at the Global Manufacturing and Industralisation Summit.
“We knew before the pandemic that substantially more investment was needed to decarbonize our economies sufficiently to limit the increase in global average temperature to 2 degrees Celsius above pre-industrial levels,” Al Ramahi told attendees at the virtual event, adding that COVID-19 has “confronted us with a simple choice. Either we attempt to delay the inevitable, or we redouble our efforts to realize viable solutions to the world’s sustainability challenges.”
The United Arab Emirates’ leadership has long recognized the need for such change, Al Ramahi said, and championed sustainable development.
“The current resilience of the global renewable energy sector owes much to the unwavering commitment of countries like the United Arab Emirates, which have nurtured the necessary regulatory and commercial conditions for sustainable technology solutions to thrive,” he said. “We must continue to build on that broad consensus in the United Arab Emirates and all nations around the world to ensure we meet our sustainability targets.”
The Global Manufacturing and Industrialisation Summit, a joint initiative by the United Arab Emirates (UAE) and the United Nations Industrial Development Organization (UNIDO), featured CEOs from some of the world’s largest organizations, Ministers from developed and developing countries, and other high-profile thought-leaders and business pioneers.
Held under the theme, “Glocalisation: Towards Sustainable and Inclusive Global Value Chains,” GMIS2020 Virtual Summit included more 20 virtual sessions, with participants discussing ways to accelerate the role of fourth industrial revolution (4IR) technologies in building more resilient global value chains and restore prosperity in a post-pandemic world.