The main activities of GGGI in Hungary are focusing on supporting low-carbon and climate resilient investments in South East and Eastern Europe with the development of regional financial vehicles and specific financial schemes to incentivize private sector investments.
Countries of the Western Balkans have only marginally benefitted from climate finance to date in spite of the challenges and risks associated with climate change and environmental pollution. The region’s growth is showing high volatility to weather-related shocks. Since 1990, 100 disasters have affected more than 3.8 million people in the region and caused more than US$ 3.5 billion in direct damages. Local air pollution is a major concern mainly due to the large dependence on coal and reliance to inefficient heating systems. While financial resources are available in the region for climate-related investments, multiple challenges prevail and prevent the deployment of green technologies at scale. GGGI partners with international and local actors to support the deployment of green investments in a complementary manner, focusing on integrated value-chain interventions and developing incentive schemes for private sector investments and bankable solutions.
News • November 18, 2018
November 18, Budapest, Hungary – An Agreement to host a Global Green Growth Institute (GGGI) Office in Budapest, Hungary was concluded on October 31, 2018 in Seoul, Republic of Korea. On October 31, GGGI convened the Seventh Session of its Assembly and Eleventh Session of its Council. The joint session was chaired by GGGI’s President […]