Paraguay is a Member of the Global Green Growth Institute (GGGI), having signed the agreement establishing the organization during the Rio+20 conference on June 17, 2012. In 2018, Law No. 6073 was enacted, officially establishing GGGI’s presence in the country. 

GGGI’s work in Paraguay focuses on supporting the government in achieving its national goals and international commitments related to climate change adaptation and mitigation, as well as fostering green growth. This enables the country to address strategic priorities in areas such as sustainable production in the Agriculture, Forestry and other Land Use (AFOLU) sector, nature-based solutions, climate action, carbon markets among others.  

Additionally, GGGI promotes green growth by mobilizing investments, advancing climate policy reforms, creating  green jobs, and strengthening national institutions. 

GGGI’s journey in Paraguay has been a path of achievements and progress toward a more sustainable future. In 2018, the GGGI program in Paraguay was established following the enactment of Law No. 6073: “Agreement for the Establishment of the Global Green Growth Institute,” marking the beginning of a strategic collaboration to strengthen the country’s environmental and financial sustainability. 

A year later, in 2019, GGGI inaugurated its office at the Ministry of Environment and Sustainable Development (MADES), consolidating its local presence and facilitating joint efforts to advance national climate goals. 

In 2022, the initial results of the GCF Readiness Program were pivotal for Paraguay’s development: two subnational investment plans were developed, along with a subnational climate finance roadmap for NDC implementation, project concept notes based on the investment plans, and the nomination of two Direct Access Entities with GAP assessments and accreditation plans. In 2023, Paraguay achieved a historic milestone with the issuance of its first sustainable bond by a public institution, raising USD 13 million to finance projects with positive environmental and social impact. 

The year 2024 marked the completion of the second GCF Readiness Program, titled “Promoting low-carbon development in Paraguay via low-emission strategies and direct access entity accreditation.” This phase delivered significant results, including the development of a national strategy for SLCP mitigation and a green finance strategy for the AFOLU sector. Additionally, an MRV system was created to provide insights into climate finance mobilization, alongside the strengthening of a Direct Access Entity to advance its accreditation process with the GCF. 

Looking ahead, GGGI will continue driving Paraguay’s sustainable transformation with projects focused on implementing and strengthening the national carbon market, facilitating investment in climate-smart agricultural projects, strengthening government institutions, and developing a national adaptation plan aligned with global environmental commitments. 

2 Strategies developed to promote Green Growth:  National Strategy to reduce Short-lived Climate Pollutans in Paraguay and the Green financing strategy for the AFOLU sector.  

452 participants in capacity building and knowledge sharing-events. 

1 Measurement, Reporting, and Verification (MRV) Tool Developed to Support the Mobilization of Climate Financing. 

Subnational climate finance roadmap for NDC implementation developed 

2 National investment plans  

USD 13 Million Issuance of Paraguay’s first Sustainability Bond by a public institution.