Environmental sustainability has received a lot of attention in the last decade. Countries and governments all over the world have aggressively pushed for policies and set for sustainability priority goals in an initiative to enhance environmental performance. It’s about time the world to recognize the threats that has been posed by increased consumption of resources such as energy, water and electricity poses to the entire world. The attention is vital for the modern global economic sustainability but for global business, it is an initiative that has had impact in their sector, majorly negative impact. United Arab Emirates (UAE) has one of the most advance economies worldwide. UAE has over 85% of her residents living in urban areas as at 2014 however, UN predicts that the population is set to get to 91% by the year 2050(Organization, 2016). The GDP of UAE in 2014 was $149 billion because of its abundance in natural resources, oil. It holds over 10% of world supply of oil and is ranked fifth largest world natural gas reserve(Group, 2014). Due to these activities and population growth in UAE, it has recorded the highest water consumption rate “Water usage in the UAE has grown at an annual average of 4 percent over the past six years, with projections that it will increase to 5 percent through 2020” (Organization, 2016). Overall electricity consumption has more than doubled in the past 10 years, at a pace that will be difficult to provide for over the long term”. The above statement is the challenge that UAE has to face in its itinerary to achieving consumption sustainability. UAE has taken initiative towards reduction of water consumption through straightforward measures that should be implemented swiftly and fast. Reduction of water consumption presents advantages in safeguarding UAE water reserves and help entrepreneurs and businessmen manage their infrastructure constrains which intern promote the whole economy. This information leaflet is meant to show entrepreneurs and businessmen in UAE the need for sustainable consumption of water and the positive impact it has on economic, social and environmental welfare.
Water consumption reduction. Why? UAE has most of the tallest buildings in the world which are the greatest consumers of water. Utility companies quote that “up to 70% of water generated is consumed by commercial and residential buildings”(Inc, 2016) most of these are buildings owed by big entrepreneurs and businessmen in the world. Electricity is used to power almost every sector of economy due to technology applied. Electrical water has been one of the most consumed water in UAE over the decade. The total electricity consumption has grown twice fold in the past 10 years and is still on its exponential state of growth for the next five years due to the population surge and economic growth. This calls for strategies to reduce in water consumption to ensure sustainability is achieved(Inc, 2016).
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The stakeholders involved have put in place strategies to ensure sustainability. The government have set long term strategies that seek to enhance growth of sustainability through nationwide ingenuities. His Highness Sheik Mohammed bin Rashid Al Maktoum in 2012 launched an nationwide initiative “A Green Economy for Sustainable Development”, a slogan aimed towards achievement of sustainable consumption and production (S&P) (Kumetat, 2014).The initiative focuses on the following major areas 1) Climate change 2) Green investment 3) Green life 4) Green Water 5) Green technologies and 6) Green City. Another stakeholder that would be most involved is the entrepreneurship sector, they need to be in the first raw championing the call for sustainability because of their involvement. The private sector should ensure that there is reduced consumption through use of alternative measures where applicable. Co-operates should ensure that they develop means through which they can monitor water and water consumption behaviors in their edifices. Households are also stakeholders, research show that households can reduce their fuel consumption by up to 15% by espousing modest measures in their home (Kumetat, 2014). Other stakeholders are the NGOs and Civil societies. Abu Dhabi Sustainability Group (ADSG), Bureau of Metal Recycling (BMR), Arabian CSR Network, Clean Energy Business Council (CEBC). All these NGOs have put in an effort to ensure sustainability in the UAE and worldwide. NGOs should take up the initiative of increasing public awareness through civil campaigns. They should educate, train and advocate for governments and corporations to develop and implement sustainability policies. The same should apply for women and youth groups.
In conclusion, the benefits that comes from sustainable consumptions are enormous. Abu Dhabi and Dubai drive to achieve sustainability in Consumption and Production (S&P) has made UAE the principal expanse in Arabian Gulf in projects towards renewable water(Group, 2014). This has of cause come with benefits such as development local industries for emancipating hydrocarbons for industrial usage which has in turn created another industry altogether hence creation of employment opportunities(Agency, 2015). For instance Abu Dhabi has created a firm in Masdar which is building cities with low carbon and zero waste characteristic throughout its cities and worldwide. Research also projects that proliferation of investments in global water will increase the global GDP to $1.3 by 2030(Bank, 2014). It means if countries would double their renewable water share, the remunerations would be experienced globally. Overall, the world economy has a lot to benefit from renewable water initiative which is good news for cooperates and businessmen worldwide.
References
Agency, C.I., 2015. The World Factbook 2014- 15. Government Printing Office.
Bank, W., 2014. World Development Indicators 2014. World Bank Publications.
Group, O.B., 2014. The Report: Abu Dhabi 2014. Oxford Business Group.
Inc, I., 2016. United Arab Emirates Oil, Gas Sector Business and Investment Opportunities Yearbook Volume 1 Strategic Information and Basic Regulations. Lulu.com.
Kumetat, D., 2014. Managing the Transition: Renewable Energy and Innovation Policies in the UAE and Algeria. Routledge.
Organization, U.N.I.D., 2016. World Statistics on Mining and Utilities 2016. Edward Elgar Publishing.
