Many people recognize Dubai as a truly eye candy travel destination lined with skyscrapers, quirky shaped attractions, and let's not forget the many spectacles one can experience when visiting the various tourist attractions. Only those who actively follow nations working on sustainable futuristic development will recognize Dubai as one of the most advanced and automated locations in the world in terms of standard of living and doing business in Dubai. The alpha emirate of the UAE has always been the frontrunner in accepting modern methods of cohabitation and civilization.
Be it in ways of creating a globalized business environment or even sponsoring large scale events such as The Dubai Expo to give talented innovators a platform to show their culture and creations to the world; Dubai has always inspired the world to take the crucial steps towards a better future. This dream of a sustainable Emirate led to the birth of the Green Growth Strategy and the already in process UAE Vision 2021, which aims to transform Dubai into a functional Smart City by the beginning of the new decade. Both these objectives set by the government culminated in forming the Dubai Integrated Energy Strategy 2030.
What is the Goal of DIES 2030?
The Dubai Integrated Energy Strategy (DIES) 2030 is dedicated to stabilize the energy consumption capacity in Dubai and create a trajectory towards renewable sources of energy. The core focus of DIES 2030 is to provide uninterrupted energy supply to commercial, business, and residential areas using renewable energy sources such as solar power, wind energy and hydroelectric power. The objective is to moderate the growing demand for energy and water in Dubai to ensure that sustainability standards are met. With rapid changes taking place in the world, ranging from melting glaciers due to climate change or high pollution levels due to emissions from industrial areas, Dubai aims to create space for new thinking to influence and change perspectives. This is an initiative towards a sustainable clean and green economy with reduced pollution levels and increased recycling initiatives to prevent the depletion of natural resources. The government also foresees the need to make energy available to the citizens at lower prices through the use of renewable sources. Currently, many locations in Dubai, such as malls, office spaces, and others, are adopting ways to utilize solar energy to meet their needs for power consumption.
How DIES 2030 will Benefit Businesses?
Dubai has been an active hub for business setup in the UAE ever since the emergence of the 21st century. The DIES 2030 initiative will reduce the dependency on fossil fuels and an oil dominated economy, giving opportunities to new businesses. Eventually, the focus of the local investors will shift to the SME and Startup companies in Dubai due to encouragement from the government. This will be a small step in a positive direction to form a diverse economy. Because of reduced prices for power and various planned government subsidies, many startup ventures in Dubai will be benefitted, motivating them to expand the scalability of their business operations.
Not only is it beneficial for small businesses but also to established companies and multinational corporations as well. These larger business entities can also enjoy several benefits from the energy-saving strategy as the prime business locations such as the Dubai International Finance Centre (DIFC) will be powered efficiently and connected to the global business network 24/7. With the government investing billions in initiatives to make Dubai a tier 1 Smart City, the business opportunities in Dubai are many.
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1. What is the vision behind DIES 2030 (Dubai Integrated Energy Strategy)?
The vision of DIES 2030 is to make Dubai a global leader in renewable energy and the green economy.
2. What are the main pillars taken under the initiative of DIES 2030?
building capacities and skills
Environment-friendly energy mix.
3. What is the funding strategy for DIES 2030?
The funding strategy involves the development of a $100 billion Dubai Green Fund, which will provide investors in the clean energy sector in the emirate with low-interest loans through its financial resources
4. How DIES 2030 will impact the environment?
Dubai will become an environment-friendly nation consisting of solar energy, nuclear power, clean coal and gas by 2030 under the initiatives taken by DIES.
5. When was DIES 2030 announced?
DIES 2030 was declared in November 2015.