At the COP28 climate conference, the World Manufacturing Summit (WMS) announced the launch of the “Initiative on Climate Action.”
This initiative aims to accelerate funding and innovation in the field of climate technology.
Specifically focusing on supporting startups developing solutions for decarbonizing various industries.
The announcement was made at a special event hosted by the World Manufacturing Summit at the UAE Pavilion.
The World Manufacturing Summit Initiative on Climate Action, “A bold step towards shaping a better future.”
Nimer Horany, General Manager of WMS, emphasized the importance of the initiative.
Also, he stated that it represents a “bold step towards shaping a better future for this decade, which requires bold and ambitious climate action.”
He further stressed the need for collaboration between governments and the private sector to develop and deploy sustainable solutions.
Moreover, the Initiative on Climate Action will focus on creating an ecosystem that fosters innovation and delivers significant sustainable impact.
The United Nations Industrial Development Organization will play a key role in identifying global challenges.
While WMS will encourage startups worldwide to develop innovative solutions.
Collaboration with incubators and accelerators will provide mentorship and support to promising innovators.
While VentureSouq, a UAE-based venture capital firm, will assist in developing, scaling, and deploying these solutions.
Additionally, the Ministry of Industry and Advanced Technology and UNIDO’s Investment and Technology Promotion Office will contribute to marketing and implementing these solutions in areas where they are most needed.
#COP28UAE achievements in its first week usher in a new phase in the history of climate action pic.twitter.com/WiN0SZTg5b
— UAE Voice (@uae_voiceeng) December 7, 2023
The Initiative on Climate Action represents a testament to the latent power of innovation
The initiative received praise from Sonja Wemuller, a founding partner of VentureSouq.
She highlighted the potential of collaboration between WMS and VentureSouq.
And she stated that it “represents a testament to the latent power of innovation.
As well as its ability to bring about a radical transformation in the climate crisis today.”
The launch event also featured insightful dialogues with key figures.
Dorothy McCollough, the US Special Representative for Global Partnerships, emphasized the crucial role of public-private partnerships in driving sustainable industrial development.
Additionally, a panel discussion entitled “The Future of Energy: Renewable Energy Innovations” brought together experts from leading companies like General Electric and Hitachi to discuss the future of energy generation.
Overall, the launch of the Initiative on Climate Action marks a significant step forward in the fight against climate change.
By fostering innovation and collaboration between diverse stakeholders.
This initiative has the potential to accelerate the development and deployment of critical climate technologies.
By leading to a more sustainable future for all.
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