Cleantech Rides The Wave Of Success Amidst Global Financial Tsunami
World Leaders meet in Dubai to Chart the Future of Green Technologies
It wasn’t that long ago when the notion of replacing the largest industry, oil and natural gas, worth a whopping $4 trillion a year would have been considered farcical. Today, as organisations the world over buckle under the weight of unprecedented economic slowdown, greener, cleaner technologies have suddenly become far more alluring.
With the Cleantech sector celebrating record profits for a second year running, and with energy issues and global warming high on the economic and philanthropic agenda, it’s no wonder that investors are clamouring to jump aboard the green gravy train.
For the first time in the Middle East, the world’s leading clean tech experts will gather in Dubai to chart a new era in environmentalism. Green gurus and ambassadors will debate the challenges, trends and how to make amends in a region that’s perfectly placed to reverse its eco-footprint.
“There’s never been a better time to provide a platform for Cleantech investment,” said Kosta Petrov, Conference Director. “As profit margins in other sectors fall into the red, ‘green’ has become the new black. In a volatile economic climate, embracing the environment means staying in business. It’s about thriving rather than simply surviving in the face of adversity”.
There’s no doubt that green technologies are bucking the financial trends. Figures show that venture firms invested $2.6 billion into 158 companies globally in the third quarter of 2008, up almost 40 percent on the previous year.
“As a result of increasing awareness, political willingness, high oil revenues and international environmental problems and crises, Cleantech is developing very fast and fields like renewable, clean technology are more welcomed and encouraged in the Middle East in general and in the GCC particularly,” commented Dr Mohamed Raouf from the Gulf Research Centre, UAE who’ll be speaking at the event.
World renowned professors and corporates, whose ideas are shaping the clean technology field, will all be in attendance at Cleantech week, focusing on why the region is ready and able to ride the recession and how to capitalise on the credit crunch.
The Middle East is widely regarded as well placed to champion Cleantech, with the political and financial aptitude and the natural resources to succeed. Whilst solar energy is the preferred route for clean technologies in the region, scientific leaders like one of Time Magazine’s ‘Heroes of The Environment’, Jose Goldemberg say there are many other viable routes.
“Investments in the Cleantech sector such as solar, wind and photovoltaics are deployed in the field very quickly. That’s around two to three years in contrast to conventional investments like hydro/nuclear and oil prospecting that take many years”.
Plummeting oil prices have shocked the world into a renewed urgency to find sustainable, alternative energy sources which make both economic and environmental sense. It’s hoped Cleantech week will help shape behaviours and decisions, to preserve and expand on the natural capital opportunities in the Middle East.
“Let’s hope that the credit crunch will help investors realise that investments in sustainable business are the better choice in terms of total cost of ownership. Mitigating climate change would be overwhelmingly positive for increasing energy security”, said Steven Van Praet of Futureproofed, who’ll be sharing his thoughts at Cleantech week.
According to the experts, future generations will have no choice but to embrace Cleantech in order to guarantee sustainability. “15 years ago, the world faced a similar disruptive situation. Some people and businesses recognised this opportunity; others didn’t and said that the internet was only “a passing phase”, Van Praet added.
More than 100 Cleantech experts, including speakers from Time’s Heroes of the Environment List will be in attendance at the JW Marriott Hotel, Dubai from 16 – 20 November 2008.
For more information on how green technologies will help you drive a broader value proposition, please visit www.clean-tech-week.com
