Day 3 of Global Green Growth Week 2023

Day 3 – October 25, 2023 

AT A GLANCE: What sessions took place today?  

Climate Finance Access Network (CFAN), Adaptation and biodiversity conservation- Mobilizing blended finance instruments and Carbon Neutrality Targets, Media and Communication for Climate Action, Decoding Transformational Change: What does it look like and how do we measure it? Insights and Metrics from Leading Global Organizations, Long Term Strategies for Climate Change: from Planning to Implementation for Accelerating Multi-level Climate Action, Building capacity and leveling the playing field for participants in the Article 6 carbon market – Part 1: Operationalization of Article 6 Governance Frameworks; – Part 2: Operationalization of Article 6 Governance Frameworks for Host Governments, Green, Climate Adaptive and Inclusive Approaches for Urban Areas: Strategies and Best Practices from Project Implementation, Sustainable Finance themes in Asia, Green Entrepreneurship in Africa: Capturing opportunities and paving the way forward 

We had 10 sessions on Day 3 of Global Green Growth Week 2023. 

Five sessions offered in-depth insights into the Green Economic Opportunities. One session featured the urgent need for biodiversity conservation and advocated for blended finance instruments to support appropriate infrastructure projects. GGGI also showcased its global projects, focusing on adaptation and biodiversity conservation fundings.  

Two sessions delved into carbon pricing mechanisms, pivotal in combating climate change. One explored innovative financing under Article 6, facilitating discussions between buyers and sellers to streamline carbon transactions efficiently. The other session provided a platform for government stakeholders and the private sector to share experience in policy making, implementation, and framework development related to Article 6 operationalization.  

“It can be a complex situation for buyers and sellers of carbon credits. However, we believe that there are big opportunities and hopes in this field. To make deals that are mutual interest that help to accelerate climate action, that really is the only reason that GGGI is in this business with our Member States.”

-Frank Rijsberman, Director-General of GGGI-

Moreover, sustainable finance themes in Asia were explored, highlighting the role of Green, Social, Sustainability, and Sustainability-linked (GSSS) Bonds in financing projects in developing countries. It emphasized overcoming market challenges calling for efforts from governments, development entities, and the private sector. Lastly, one session spotlighted the emerging field of green entrepreneurship in Africa. Discussion centered on strategies for success in Africa’s green business landscape, utilizing the continent’s growing economies and abundant resources while overcoming local challenges.   

For Road to COP28, the focus was on LT-LEDS (Long term- Low Emission Development Strategies), particularly those finalized in Ethiopia, Burkina Faso, Vanuatu, and the Solomon Islands. These discussions centered on the opportunities and challenges during the shift from strategy development to practical implementation. The session also delved into different viewpoints regarding LT-LEDS implementation. Additionally, the urgent needs of Efficient and Sustainable Resource Use in Pacific Island Countries were highlighted. The session emphasized the innovative funding solutions provided by the Climate Finance Access Network (CFAN) with the support of GGGI.   

“Fast-tracking transformative climate action conversation couldn’t be more important as we all recognize that climate change is the single greatest threat to the livelihood security and wellbeing of the peoples of the Pacific. And we know the scale and pace of climate finance to the region does not match either the threat or the urgency. Small island states in the Pacific are disproportionately experiencing the effects of climate change. However, essential collaboration exists, the Climate Finance Network Access CFAN.”  

Two cross-cutting sessions explored the crucial role of media and communication in climate change, highlighting the impact of narratives on participation and engagement. It discussed practical ways in which media can involve people in climate action.  

“When communication is done right, it changes things. It changes our understanding, knowledge, attitudes, and ultimately our behavior towards climate action. Communications is a tool of strategic management holding a great power”.

-Stephanie Speck, Green Climate Fund (GCF)- 

Additionally, the other session delved into defining transformational change, focusing on frameworks for measuring and evaluating such changes and impacts.  

“Transformative climate action is a big word; we can all agree that this is where we are all trying to lead to. However, we might not all agree on what it looks like, what defines it, and even trickier when it comes to measuring it. Although we might not have all the answers to these, it is important that we should be asking the questions to measure the impacts and evaluate the transformation change while tracking the progress”. 

A group of people in a room

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