Day 1 of Global Green Growth Week 2023

Day 1 – October 23, 2023 

AT A GLANCE: What sessions took place today?  

Loss and Damage: A Global Perspective, Green Finance Pathways to Scale Up Transforming Financial Sector in the Pacific/PNG towards Green Growth, Low-Carbon Buildings: Transition through innovative Materials, Green Growth Index, Road to COP28, Opening, Gender Equality and Social Inclusion Investments for Just Transitions Processes, Exploring Green Jobs Creation Potential in Africa, Loss and Damage: An African Perspective, Climate-Smart Agriculture

“I speak to you today with a sense of urgency that hopefully resonates in every word I speak. Our beautiful planet, our home, is facing a crisis of unprecedented proportions. The theme we have chosen this year [for the Global Green Growth Week], “Fast-Tracking Transformative Climate Action,” underscores the pressing nature of the situation we find ourselves in. For nearly a decade, I have emphasized a simple truth: there is no Plan B because there is no Planet B. This is our only home, which we cannot replace. The window of opportunity to save it is not a vague future; it is now, and it belongs to us – a community of people dedicated to taking both small and monumental steps toward a better world. We need every single one of you to join us in this vital mission.”

– H.E. Ban Ki-moon, President & Chair of the Assembly, and the Council, GGGI 

The first day of Global Green Growth Week 2023 kicked off with a compelling agenda, featuring 11 sessions dedicated to addressing globally significant topics, all aimed at fast-tracking transformative climate action. Our first day delved into issues such as financing climate action, green youth employment, expectation from COP28, and advancing climate smart agricultural practices particularly in Africa. We also explored the significant contributions young people are making to address the climate crisis. 

Structured around the four key dimensions (goals) outlined in GGGI’s Green Growth Index- namely: 1) efficient and sustainable resource use; 2) Green economic opportunities; 3) Natural capital protection; and 4) Social inclusion – the session “Green Growth Index” allowed us to highlight how these dimensions and their corresponding green growth indicators are perceived by policymakers and integrated into their green development planning processes. Speakers from Ghana, Laos provided useful perspectives on how they are working collaboratively with a large group of stakeholders to use the Green Growth Index approach in their own green development plans.  

Another noteworthy session, “Road to COP28,” and a session on Loss and Damage: A global perspective which offered an opportunity to reflect on the outcomes of COP27 and look ahead to COP28, gaining a comprehensive understanding of the current climate negotiations. The specific focus on “Loss and Damage”, examined from both global and African perspectives provided significant insights into the challenges that developing countries face.

“Loss and Damage is not a need it is a must, we must start acting rather than just talking, it is about people’s lives we are talking about here.”  

“Loss and Damage is a decision point close to us developing countries. We cannot afford delays in implementing much needed actions. We cannot further delay our work on averting, minimizing, and addressing loss and damage.” 

“The significance of Loss and Damage session was underscored by COP27’s groundbreaking agreement on a Loss and Damage Fund for low-emission countries most affected by the climate crisis. We try to effectively address the pressing issue of implementing Loss and Damage strategies in the world’s most vulnerable regions, while also fostering collaboration across different sectors,”

– Shivenes Shammugam, Senior Economic Officer

Voices from Participants:  

“Youth are expected to provide innovative solutions without sufficient support- strong demand yet inadequate support.” on Loss and Damage and Youth – South Korea Representative, 13th UNESCO Youth Forum  

“COP28’s bold and decisive commitments must be efficiently transformed into concrete actions to leave a lasting legacy for the younger generation and shape a climate resilient future.” 

“COP28 must provide a clearer and feasible strategy on the urgent mobilization and delivery of obligations on means of implementation and support in climate finance, technology development and transfer, and capacity-building.”  

Additionally, there was a deliberate emphasis on Africa’s agricultural sector, recognizing its substantial potential and the pivotal role of Climate-Smart Agriculture as a primary climate adaptation strategy. This strategy not only enhances climate resilience but also provides mitigation benefits, contributing to 94% of Africa’s Nationally Determined Contributions (NDCs). The sessions concentrated on illuminating the latest sustainable farming practices and transformative technologies that are driving change in African agriculture. They drew on valuable insights from ongoing projects across the continent, offering evidence-based solutions to enhance the resilience of the agricultural food system in the face of climate challenges. 

Within the broader context of transitioning to a green economy, the sessions provided diverse perspectives from a range of stakeholders actively involved in implementing interventions addressing the three fundamental forms of capital: green economy, Social Inclusion, and Environment. The day also marked a significant milestone as we officially announced the commencement of strategic partnerships through the formalization of MOU with UN Women and The Bahay-Hiliti Foundation. Furthermore, the sessions explored strategies aimed at expanding the reach of Papua New Guinea’s Inclusive Green Finance Policy (IGFP) across the Pacific region, demonstrating the event’s commitment to promoting green finance in the broader region. 

“We need a just transition! We need global climate justice, transactional justice, and generational justice,” – Ingvild Solvang, the Deputy Director, Head of Climate Action and Inclusive Development Global Practice, GGGI

During the Opening Session Dr. Frank Rijsberman Director General set the stage for GGGI leadership to share the organization’s insights, perspectives, challenges, and opportunities in speeding up and scaling up a green growth transition that is people centered and is just for all.

“In Strategy 2020 our ambitions at GGGI were that we would raise 30 million USD in green finance by 2020. We have increased this ambition step by step to 14 billion USD investment mobilized by 2025. We are confident that this is an achievable goal that will accelerate the green transformation and climate action in our developing Member States, so that they can reduce emissions, build climate resilience and ensure a sustainable future.”

– Dr. Frank Rijsberman, Director General, GGGI

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