Green licenses have been issued by Expo City Dubai to six businesses, which represent the UAE’s first-ever issuance of Green licenses. This is an important milestone for the country that seeks to expedite its progress toward green innovation and to welcome environmentally conscious businesses in the process.
The licenses come under the purview of the Green Innovation District project, which has been jointly launched by Expo City Dubai and the Ministry of Economy and Tourism in the UAE.
The inaugural batch of licensees comprises businesses dealing with climate technology, e-waste, circular economy, carbon assurance, and food rescue. This program involves the creation of a qualification process that will make sure that only environmentally conscious businesses join the district.
Reem Al Hashimy, UAE Minister of State for International Cooperation and CEO of Expo City Dubai Authority, said: “Attracting, enabling and scaling sustainability-focused business, innovation and talent is integral to the Green Innovation District's mission to deliver measurable environmental, economic and social impact.”
The first license winners include AirJoule, WAT (We Are Tech), Polygreen, Carbon Assurance, Carbon Standard, and RBT Collective. Collectively, these companies reflect the wide diversity of sustainability industries that include atmospheric water generation, recycling of electronic waste, carbon certification, and food recovery projects.
As stated by Expo City Dubai, the Green License program is aimed at helping businesses of various sizes. For established companies, the ESG rating will help them obtain the license directly, whereas startups and smaller companies have to pass an evidence-based evaluation carried out by Expo City experts on sustainability.
The criteria for receiving this license include contributions to the fields of climate action, energy and water savings, sustainability/circular economy, and so on.
The Green License holders will be entitled to a package worth above Dh400,000. The benefits include reduced cost of doing business, sustainability advice, and promotion, as well as the chance to take part in business missions organized by the Ministry of Economy and Tourism.
The companies will also get the chance to collaborate with other firms through MAJRA and join the Green Majlis, an innovation-focused sustainable leadership platform. Moreover, businesses will get fast access to intellectual property services through the ministry's soon-to-launch Green IP office.
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