Vientiane Capital, Lao PDR, August 1, 2019. The Department of Climate Change (DCC) under the Ministry of Natural Resources and Environment (MONRE) and the Global Green Growth Institute (GGGI) Laos office co-hosted a one-day workshop on private sector engagement in climate change and green growth in Lao PDR. The workshop was aimed to raise awareness on Lao PDR’s commitment to international climate change accords, its domestic green growth agenda, and the Green Climate Fund (GCF), and to identify opportunities and potential barriers to green investment in Lao PDR.
The workshop was part of the GCF Readiness Support that was provided to DCC in partnership with Public Works and Transport Research Institute (PTRI) through GGGI as a delivery partner. One of the main outputs of the project is to increase participation of the private sector in addressing climate change and green growth. The workshop was attended by 76 participants, of whom 34 were females, from public sector, private sector, business association and development partners. Out of the total participants, there were 24 companies and business associations attending this workshop. This was the first time ever to organize a structured dialogue with the private sector in the context of green growth and climate change agendas.
Addressing climate change and promoting green growth requires the transformation of the current development pathway to a greener and more climate-resilient model that require significant investments and innovations from both public and private sectors. Therefore, it is important to engage the private sector because they are the sources of resources, knowledge, and innovations.
“Trillions of dollars and Lao Kip that is spent every year need to shift away from actions that exacerbate climate change problem towards becoming part of the solution. The involvement of private sector is essential to delivering these goals” said Ms. Annaka Peterson, Deputy Country Representative of GGGI Laos.
The Government of Laos has made ambitious commitments to achieve its long-term development goals through its Vision to 2030, National Climate Change Strategy, adoption of the Sustainable Development Goals, and the National Green Growth Strategy. Indeed, turning this vision and strategy into reality will require collaboration from all parties including the private sector, which needs to evolve and grow in a more sustainable direction, resilient to climate change. GGGI stands ready to support the Government of Lao PDR to harness the strengths of different partners, including the private sector, and work together to make this vision of a sustainable and prosperous future for Lao PDR a reality.