Marrakech, Morocco – November 10, 2016 – Top experts from government ministries, NGOs, and the green finance participated in a panel discussion for a GGGI side-event to discuss financing Intended Nationally Determined Contributions (NDCs). The event took place during the twenty-second session of the Conference of the Parties (COP22) to the United Nations Framework Convention on Climate Change (UNFCC).
Last year’s COP21 saw 160 NDCs submitted, reflecting 187 countries accounting for 95% of the global greenhouse gas (GHG) emission. The NDCs are country-driven, where countries determine their own actions and ‘contributions’ within the framework of their national priorities, circumstances, and capabilities. As such, NDCs are national expressions of the countries’ strong commitment to climate action.
The key barriers to implementing green bankable projects in effort to achieve country NDCs is the large “financing gap” resulting from mismatching risk-reward profiles that investors seek and the actual project risk profiles. GGGI’s NDC side event for COP22 discussed GGGI’s global activities related to financial solutions to close the “financing gap” between financial institutions and green growth projects in the Middle East, Africa, Latin America, and Asia. This event served as a platform to share knowledge, strengthen partnerships, and enhance the understanding of financial solutions available for NDC implementation.
This event provided participants with valuable knowledge that will help them to contribute towards achieving the NDCs in their countries. Currently, GGGI assists in designing better policies, designing and advising better projects, developing and attracting financing for bankable green projects, and strengthening institutions and partnerships within countries and regions.
About the Global Green Growth Institute (GGGI)
Based in Seoul, GGGI is an intergovernmental 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.
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Global Green Growth Institute
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