Global Green Growth Week 2017 Kicks Off in Addis Ababa

• by IPS World Desk (addis ababa)
• Monday, October 09, 2017
• Inter Press Service

Jointly organized by the Global Green Growth Institute (GGGI) and the Federal Democratic Republic of Ethiopia, the four-day event will serve as a platform bringing together over 300 high-level ministers, thought leaders, institutional investors and decision makers to catalyze creative solutions for transformational green growth in Africa and the world over. The discussions will revolve around achieving Nationally Determined Contributions (NDCs) to the Paris Agreement and making progress on the U.N. Sustainable Development Goals.

Under the theme ‘Unlocking Africa's Green Growth Potential', #GGGWeek2017 will focus on addressing a number of green growth topics: mobilizing green/climate finance to bankable projects in developing countries; sustainably managing resources to address water and food security challenges; and developing and adopting policies that drive environmentally sustainable and socially inclusive economic growth. Sessions at #GGGWeek2017 will provide an opportunity for delegates to identify ways to secure financial resources and explore issues such as how to match climate finance with bankable projects and mobilize local capital markets for renewable energy investment.

Sessions like Africa's Green Energy Challenges and Off-grid Renewable Energy Solutions, Green Strategies and Success Stories in Africa, Greening the Belt and Road Initiative, and Greening African Cities will shed light on transformational green growth initiatives and global knowledge of green growth implementation.

The private sector, which will have a strong presence at the event, has a critical role to play given that climate finance is at the forefront of NDC implementation. Among private sector partners attending GGGWeek is Elion Resources Group, a Beijing-based company committed to eco-friendly, green finance.

Together with partners such as the Green Climate Fund (GCF), the African Development Bank (AfDB), other multilateral development banks, UN regional, economic and social commissions, GGGI is working globally to leverage private as well as public sector investment in inclusive green growth. An example is the establishment of the Federal Democratic Republic of Ethiopia's Climate Resilient Green Economy (CRGE) Facility, the financing channel for a USD50 million project to enhance critical irrigation systems in the country's drought-prone regions. Established by the Ministry of Finance and Economic Cooperation (MOFEC) with the close support of GGGI, the Facility will receive and channel the recently approved USD 45 million from the GCF for the project, developed by MOFEC in cooperation with the Ministry of Environment, Forest and Climate (MEFCC). With co-financing from the Ethiopian government of USD 5 million, the project is set to directly benefit 330 000 people directly and nearly 1 million people indirectly.

Over 15 unique sessions will highlight examples and success stories, like the Ethiopia CRGE Facility case, of global and African green growth interventions, policies and strategies.

The African Union, the International Renewable Energy Agency, CGIAR, the New Climate Economy, and the World Resources Institute are among a few partners who will showcase best practices of global green growth policies and implementation.

As a host for the Week, Ethiopia will showcase its green growth initiatives, including site visits that will highlight some of the fast growing African nation's renewable energy and other green growth projects.

For more information on #GGGWeek2017, visit http://www.gggweek2017.org/

About GGGI

Based in Seoul, GGGI is a treaty-based international, inter-governmental organization founded to support and promote green growth. The organization partners with countries to help them build economies that grow strongly, are more efficient and sustainable in the use of natural resources, less carbon intensive, and more resilient to climate change. GGGI works with countries around the world, building their capacity and working collaboratively on green growth policies that can impact the lives of millions. To learn more about GGGI, see http://www.gggi.org and visit us on Facebook and Twitter.

Follow GGGWeek2017 @gggi_hq on twitter #GGGWeek2017 or #GreenGrowthInAfrica

© Inter Press Service (2017) — All Rights ReservedOriginal source: Inter Press Service

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