10 Years since Rio+20: Where does the World stand in its Green Transformation and what has been GGGI Contributions?
Date: Wednesday October 26, 2022
Time: 16h00-18h00 (KST/GMT+9)
Venue: GGGI Conference Room in Seoul, Republic of Korea
Format: In-person participation by invitations, and virtual attendance available for other participants
Objective: The President and Chair of GGGI’s Assembly and Council, H.E. Ban Ki-moon, together with Ministers from the Global Green Growth Institute (GGGI) Members, will share their strategic views and reflections on the progress made since Rio+20 – since the establishment of GGGI as an Intergovernmental Organization – and share their inspirations on what GGGI contribution has been, and what more can be done.
Established in 2012 at the Rio+20 UN Conference, 2022 marks GGGI’s 10th Anniversary as an Intergovernmental Organization. As of July 2022, GGGI has 43 Members, with more than 20 countries and regional integration organizations in the accession process. GGGI has operations in 37 countries, with staff embedded in government institutions to support its Members accelerate access to green and climate finance, develop smart policies, and build capacities to deliver their Paris Agreement commitment, Sustainable Development Goals, and climate ambitions. In addition to its delivery model of embeddedness in governments, another crucial factor for GGGI’s successes is the close collaboration with various actors including academia, international and national development support agencies, civil society organizations, and the private sector.
The world is facing a sustainability crisis. The combined effects of climate crisis and the COVID-19 pandemic resulted in devastating consequences on biodiversity, the high risks of massive stimulus packages not necessarily translated into green recovery, and the global climate finance commitment still lagging behind and not meeting the targets set in the Paris Agreement. There has been a flurry of announced NetZero targets and pledges over the last several years. Unfortunately, the assessment of all promises made are not yet sufficient to reduce the temperature increase to 1.5° Celsius. From increasing targets to clearer action plans, policies or investment projects, there is still a long way to fill the gaps to meet the Paris Agreement targets.
Against this background, GGGI has been stepping up and scaling up its work. At the end of 2021, GGGI helped mobilized over USD 7 billion in green and climate finance for its Members, including the largest green bonds issuance by a sovereign in Peru in 2021. This achievement is supported by smart policies to influence green growth transitions, reduce GHG emissions, create green jobs, improved access to sustainable services, and enhance adaptation capacities. Over the last couple of years, GGGI supported 15 Members to green their recovery plans, and 30 Members and partners to enhance their NDCs ̶ out of which 26 countries presented them at COP26 in Glasgow.
In this context, the Ministerial Panel session provides the appropriate forum to reflect on the last ten years with Rio+20 – since GGGI’s establishment – to share strategic views on how the green transformation is advancing, and what has been GGGI contributions to it.