Busan, Republic of Korea, August 26, 2025 – The Global Green Growth Institute (GGGI) hosted a side event, “Mobilizing green and sustainable finance at scale for the clean energy transition” at the Clean Energy Ministerial 16 and Mission Innovation 10 (CEM16/MI10).

The side event brought together energy experts, government and private sector stakeholders, and partners. More than 100 participants engaged in intensive discussions on exploring clean energy investment and developing effective financial mechanisms and business models to accelerate clean energy transitions.

In his welcome remarks, GGGI’s Director-General Sang-Hyup Kim, stated, “The clean energy transition is our greatest challenge and our most profound opportunity to enable green, inclusive growth.” He said clean energy investments are insufficient, especially in emerging economies, where energy demand grows fastest, but financial barriers are highest and proposed three critical actions:

1. De-risking investments through blended finance
2. Strengthening policy-investment linkages to create bankable projects; and
3. Adopting technological enablers.

Pohang City Mayor H.E. Lee Kang-Deok, in his congratulatory remarks, highlighted the city’s pursuit of low-carbon innovations, including hydrogen-based steelmaking and a large-scale Carbon Capture and Utilization (CCU) project. He noted, however, that local governments and industries continue to face challenges, and called for more substantial support from the national government, greater international technology cooperation, and bold private sector investment.

The second half of the event featured an esteemed panel of experts such as Mr. Jiwan Acharya, Principal Energy Specialist, Asian Development Bank (ADB); Mr. Daniel Morris, Head of Clean Energy and Technology, Climate Investment Funds (CIF); Ms. Janice Cheong, Deputy Director, Global Wind Energy Council (GWEC); Ms. Smriti Sharma, Vice President, Nepal Infrastructure Bank (NIFRA); Deger Saygin, Industry Programme Lead, Clean Energy Finance and Investment Mobilisation Programme (CEFIM), OECD; and Mr. P.C. Garg, Principal Advisor, National Solar Energy Federation of India (NSEFI).

Mr. Daniel Morris (CIF) underscored the critical role of catalytic funding in unlocking multilateral development bank (MDB) finance to achieve scale in the energy transition. He highlighted the innovative financing instruments, including capital market mechanisms, that CIF is deploying to expand the reach and impact of its interventions.

Mr. Jiwan Acharya (ADB) noted, “The Clean Technology Fund has proven to be truly catalytic in advancing climate finance and emphasized ADB’s commitment to amplifying its impact”. He further shared that ADB is actively investing in artificial intelligence programs, leveraging AI to enhance decision-making and de-risk investments, thereby strengthening the overall resilience and effectiveness of their climate investments.

The side event reinforced GGGI’s commitment to innovative partnerships, green finance, and scaling clean energy investments that drive an inclusive and sustainable future.