Dubai PR Network, Online Press Release from Dubai and Middle East
 
(Energy and Industry)
Filter PR by
  
UAE's Energy for Greater Efficiency Can Propel Region Towards a Sustainable Future, Industry Experts Tell Middle East Energy 2020
 
UAE's Energy for Greater Efficiency Can Propel Region Towards a Sustainable Future, Industry Experts Tell Middle East Energy 2020

Public and private sector efforts held up as benchmark during thought-leading session titled ‘Decarbonisation and Sustainable Development Goals’
‘Expo site is a blueprint for future smart city’ - Markus Strohmeier, Siemens 
Session told energy services companies (ESCO) in the Emirates have increased tenfold in past two years 

Dubai, UAE: 04 March 2020: Greater focus on energy efficiency will help reduce costs and aid Middle East energy sector players meet the dual challenge of meeting growing demand for power while reducing carbon footprint, according to industry experts during a thought-provoking plenary session titled ‘Decarbonisation and Sustainable Development Goals’ on the sidelines of Middle East Energy 2020, the 45th edition of the global energy platform, which runs until March 5 at Dubai World Trade Centre (DWTC). 

The session, featuring luminaries for industry powerhouses including Etihad Energy Services Company (ESCO); Siemens and HSBC, also highlighted how efforts across both the public and private sectors for improving energy efficiency should serve as a benchmark for the region to follow, with global energy consumption set to double by 2050.

Pradeep Kumar Singh, Assistant Business Development Director, Etihad Energy Services Company (ESCO), outlined how the UAE is taking the lead in the MENA region to improve energy efficiency, by retrofitting buildings and infrastructure to conserve energy and reduce waste.

 “We have retrofitted more than 7700 facilities in the UAE to be energy efficient, saving around 130 Kilowatt tonnes of Co2. We have reduced energy consumption by around 300 kilowatt hours. This is a great start and the right base from which to grow towards the adoption of a more efficient energy consumption pattern,” said Singh, adding that government efforts to reduce the country’s carbon footprint have created opportunities for energy entrepreneurs and new entrants to shape a more efficient future.

“When Etihad ESCO was formed, the mandate was to save 30% energy by 2030. There are 61 government entities in Dubai alone and almost all of these buildings are retrofitted with energy-saving solutions. In 2018 there were only three energy services companies (ESCO) in the market, now because of government policies there are 30 ESCOs. Numerous other companies are moving towards energy efficiency.”

Markus Strohmeier, Senior Executive Vice President, Regions Solutions and Services, Smart Infrastructure, Siemens Middle East, told Middle East Energy delegates that it is important to showcase energy-efficient systems at landmark locations in order to drive interest and raise awareness eventually leading to greater adoption of such measures. 

“We (Siemens) have done amazing work at the Expo 2020 site. What we have showcased is a blueprint for a future green smart city. We are out of the construction site now. From a central point you can actually control 137 buildings. Not just the building management system but you can measure, benchmark energy consumption from cooling to water in every building. So, it’s about saving. New cities must be designed for sustainability and efficiency,” said Strohmeier.

“In the UAE we have completed a lot of successful energy efficiency projects such as Wafi Mall and the Dubai Airport, where energy savings are almost above 30 percent,” added
With a number of entrepreneurs and businesses citing the high costs as the main obstacle to developing energy efficient systems, Pri McNair, Regional Head of Client Coverage MENAT, HSBC, highlighted how the banking sector is beginning to tailor financial solutions for those prioritising sustainable ventures.

“We made a commitment to the market that we would invest up to U$100 billion in sustainable finance and we will reach that goal by 2025. Just three years down the line we are at US$ 52 billion and we have a number of initiatives such as green bonds, social bonds; we are the world’s best sustainable finance brand according to Euromoney,” McNair told the session.

“We had really little in the form of products and solutions three years ago. Now, we have a long list of products bonds, green loans, sustainable loan products, green mortgages, green car loans. We have surely come a long way. When you look at the financial sector generally, in 2007 we had one billion bonds for sustainable initiatives. In 2017, that number was 177 billion. There is a huge desire to support customers who are into low carbon initiatives. The second big part is helping customers transition to low carbon initiatives.”

Middle East Energy will conclude on March 5 at 4:00 pm .


Posted by : Dubai PR Network Editorial Team
Viewed 7094 times
PR Category : Energy and Industry
Posted on : Thursday, March 5, 2020  4:27:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Schneider Electric Introduces Uniflair™ Rack Mounted Cooling...
Next Story : UAE Becomes First Peaceful Nuclear Operating Nation in Arab ...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Cutting-Edge Technology Solutions from TP-Link for Work at Home or Distance Learning [7021-Views]
Isolation Survival Guide [6917-Views]
Huawei Mobile Services To Explore The Ultimate Potential On HUAWEI P40 Series [6393-Views]
"Stay Home" Instagram Sticker Launches in the UAE [6320-Views]
Marks & Spencer Introduces Its Cosy Loungewear Collection for Men [5886-Views]
Winnie Harlow x Steve Madden Collection [5649-Views]
Parmigiani Fleurier Tondagraph Slate [5179-Views]
Airbus to Produce 3D-Printed Hospital Visors in Fight Against Covid-19 [5130-Views]
Dubai Cares Joins UNESCO's Global Education Coalition to Provide a Unified Response to the... [4929-Views]
Tonda 1950 Double Rainbow Flying Tourbillon [4776-Views]
Brighten Up With KARL LAGERFELD [4551-Views]
Top Personal Trainer Thanks Dubai Sports Council for “Be Fit, Be Safe” Campaign [4459-Views]
Innovation Platform GELLIFY Forays into the Middle East [4343-Views]
Majority of UAE Residents Know How to Contain COVID-19, Confirms Kantar Study [4313-Views]
Make the Holy Month of Ramadan More Festive This Year With Our Exclusive Corporate Collect... [4270-Views]
Automobili Lamborghini Starts Production of Surgical Masks and Medical Shields for Use in ... [4215-Views]
Dubai Chamber Launches Electronic Attestation Service and Enhances Its Range of Smart Serv... [4087-Views]
Trade Bank of Iraq Announces Capital Increase to USD 3 Billion Under New Three Year Strate... [4087-Views]
Corona Virus: A Curious Guide for Courageous Kids [4069-Views]
Ralph Lauren Corporate Foundation Announces Global COVID-19 Relief Efforts [4020-Views]
CND™ and Horst M. Rechelbacher Foundation Rally Beauty Industry with Grants Supporting COV... [3989-Views]
Ahmed bin Humaid Al Nuaimi launches new incentives for AFZ companies [3941-Views]
MBRSC Extends Deadline for UAE Astronaut Programme Registrations [3880-Views]
How To Get Your Home Ramadan-Ready With Sedar Global Interiors E-Commerce [3874-Views]
Properties Investment Announces 3 Month Rent Relief for ‘The Market' Retailers [3819-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories