(Pakistan Point News - 06th Nov, 2019) DUBAI, 6th November 2019 (WAM) – The UAE government has launched the ‘SCALE 360’ initiative in collaboration with the World Economic Forum, WEF, aiming to harness the potential of technology innovations to fast-track the circular economy.
‘SCALE 360’ was launched following the Fourth Annual Meeting of the Global Future Councils hosted by the United Arab Emirates in collaboration with the World Economic Forum. The initiative is affiliated with the Platform for Accelerating the Circular Economy and aims to create new markets for circular goods, services and revenue by surfacing, supporting and connecting entrepreneurs and innovations through nationally-led challenges and partnerships. The idea is to help stakeholders scale up solutions in partnership with government entities, impact investors, experts, and companies.
"SCALE 360 will fast track our global efforts to achieve the UN’s Sustainable Development Goals. In addition to ensuring the conservation of our natural resources, a circular economy will step up our reliance on clean energy, enhance the consistent implementation of sustainable development standards, and generate greater opportunities for the youth in the region," said Dr. Thani Ahmed Al Zeyoudi, Minister of Climate Change and Environment.
Omar Sultan Al Olama, Minister of State for Artificial Intelligence, said, "Artificial Intelligence and advanced technologies have incredible potential to change our relationship with natural resources by applying it in new ways. This partnership provides an important opportunity to trigger new solutions and applications of these technologies."
"This partnership aims to trigger a worldwide movement for radical change by identifying new technologies and business solutions that break our dependency on natural resource extraction while marrying targets for protecting the environment with ones for boosting economies," said Dominic Waughray, Head of the Centre for Global Public Goods, Member of Managing board, World Economic Forum.
‘SCALE 360’ builds on research developed by the World Economic Forum in collaboration with Accenture Strategy to explore the potential for Fourth Industrial Revolution technologies to accelerate the circular economy transition for plastics and electronics.
The World Economic Forum hosts this partnership with an initial investment of CHF 1 million from the UAE Government and will tap into the Forum’s networks of experts, civil society, government and industry leaders, PACE, and the network of Centers for the Fourth industrial revolution.
The UAE government, in collaboration with the World Economic Forum,WEF, has become the first signatory to the 'SCALE 360' initiative last April, which translates the strategic directions of the UAE government into practical initiatives by creating and enabling a sustainable infrastructure to support the growth of the economic, social and environmental sectors in line with the UAE Vision 2021 and UAE Centennial Vision 2071.
