The Global Manufacturing and Industrialisation Summit (GMIS) has unveiled its Climate Action Initiative in partnership with UAE-based venture capital firm, VentureSouq, aiming to ignite early-stage funding for Climate-tech startups.
The announcement took place during the GMIS Special Event held at the UAE Pavilion in the Blue Zone of COP28, focusing on discussions to decarbonise industries and advance climate action.
Namir Hourani, Managing Director of the Global Manufacturing and Industrialisation Summit, made two significant announcements on World Industrial Day and the Climate Action Initiative. Gerd Müller, Director General of the United Nations Industrial Development Organization (UNIDO), and Omar Al Suwaidi, Undersecretary of the UAE Ministry of Industry and Advanced Technology, were present at the event.
Hourani highlighted the importance of these initiatives, stating, “The Global Manufacturing and Industrialisation Summit is committed to harnessing innovation’s power to accelerate the United Nations Sustainable Development Goals (UN SDGs) and promote global good. World Industrial Day and Climate Action Initiative mark a significant step towards building a better future during this critical decade that demands bold climate action.
As we navigate COP28, let us unite in our commitment to turn ambitions into action, pledges into purposeful progress, and innovation into scalable solutions. And together, let’s build a greener and sustainable future for all.”
The Climate Action Initiative aims to establish an ecosystem fostering innovation for sustainable impact at scale. UNIDO will identify global challenges, and the GMIS will invite startups worldwide to provide innovative solutions. In collaboration with incubators and accelerators, the Summit will offer mentorship and support, and Venture Souq will assist in developing, scaling, and deploying these solutions.
The UAE Ministry of Industry and Advanced Technology and UNIDO International Technology and Promotion Offices will aid in commercializing and deploying these solutions where needed.
Sonia Weymuller, Founding Partner at VentureSouq, expressed excitement about the collaboration, emphasizing the transformative power of innovation and the critical role of startups in driving climate action.
The GMIS Special Event featured discussions with Dorothy McAuliffe, Special Representative for Global Partnerships at the United States Department of State, emphasizing the importance of public-private partnerships in sustainable industrial development.
High-profile panelists explored challenges and opportunities in integrating renewable energy into the manufacturing sector. The event concluded with Weixi Gong, Chief Division of Investment and Technology Promotion Offices and Institutional Partnerships for UNIDO, delivering closing remarks.
Held under COP28 UAE’s thematic day for Energy and Industry, Just Transition, and Indigenous People, the GMIS Special Event occurred on December 5th at the UAE Pavilion within the Blue Zone of COP28 UAE, drawing participation from leaders in governments, the private sector, academia, and international organizations.