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Friday, February 23, 2024
PARIS, Jan 22 2020 - The Global Green Growth Institute (GGGI) signed a Declaration of Intent and a Memorandum of Understanding (MoU) with the French Ministry of Europe and Foreign Affairs (MEAE) and the Agence Française de Développement (AFD), a French development bank today to promote sustainable development and climate action. The signing was witnessed by Mr. Ban Ki-moon, President and Chair of GGGI.
The MoUs complement the joint declaration of the France-Korea Summit in 2018 where the two countries pledged to support GGGI’s activities and efforts to accelerate the adoption of green growth models in developing and emerging countries.
“This is the first time GGGI has signed MoUs with the Government of France and a French development bank. The cooperation agreements we signed today will be a start of our collaboration, bringing opportunities on a number of fronts. We look forward to strengthening our partnerships with the MEAE and AFD to support countries achieve solid and ambitious Nationally Determined Contributions (NDCs) for the Paris Agreement,” said Dr. Frank Rijsberman, Director-General of GGGI.
Meeting the Sustainable Development Goals (SDGs) and setting ambitious climate action targets require strong partnerships and collaboration between development partners. The MEAE plans to promote collaboration between AFD and GGGI with regards to joint funding programs.
Remy Rioux, Director-General of AFD said, “We are delighted to work together with GGGI to build innovative green investments mechanisms, especially in Africa as one of the most vulnerable regions to climate change despite contributing the least to global warming. By partnering with GGGI, I am confident that we will create synergies and support countries to deliver on Paris Agreement commitments.”
Under the MoU, GGGI and AFD have agreed to collaborate through undertaking several financing operations to promote sustainable economic development in developing and emerging countries, including the least developed countries. The two organizations seek to deliver economic growth that is both environmentally sustainable and socially inclusive. GGGI and AFD will help countries access climate finance to implement ambitious climate actions with a focus on the development of National Financing Vehicles. In addition, the two organizations will enhance countries’ NDC planning and implementation by providing support for long-term low-carbon and resilient economic development strategies/plans and Monitoring, Review and Verification (MRV) systems.
GGGI will strengthen its commitment to French-speaking developing countries to achieve their climate action goals, including the implementation of their NDCs, the formulation of resilient and low-carbon long-term economic development strategies, and the development of reliable systems for measuring, reporting and verifying greenhouse gas emissions.
“The signing of the Declaration of Intent comes at a time when there is an urgent need to take action in addressing global warming, which is in line with the commitments of the Paris Climate Agreement and 2030 Agenda,” said Philippe Lacoste, Director for Sustainable Development, MEAE.
GGGI will support countries to accelerate access to climate finance, particularly by developing innovative green investment funds and mechanisms, facilitating these countries to access the Green Climate Fund (GCF), as well as working together on the development of portfolio of green bankable projects.
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