GGGI signs agreements to partner with Korean Environment Minister and Korean water and clean tech organizations at COP26

Seoul Korea, November 3, 2021 – The Global Green Growth Institute (GGGI) signed Memorandum of Understandings (MoUs) with the Ministry of Environment (MOE) and its affiliated institutes Korea Water Resources Corporation (K-Water) and Korea Environmental Industry and Technology Institute (KEITI) during the COP 26, Glasgow, today. The three MoUs were signed by HE Jeoung Ae Han, Minister of Environment, Mr JaeHyeon Park, Chief Executive Officer of K-Water, Mr Jechul Yoo, President of KEITI, and Dr Frank Rijsberman, Director-General of GGGI.

Under the MoUs signed today, GGGI will formalize a general framework for a strategic partnership and joint cooperation in the 2030 Agenda for sustainable development, the Paris Climate Agreement, and other areas of mutual interests with MOE, K-Water, and KEITI as summarized hereafter.

GGGI and MOE will work towards developing green growth, climate resilience, and adaptation projects in developing countries. Moreover, both will focus on expediting the reduction of greenhouse gas emissions and their transaction mechanisms. The MoU will enhance cooperation to mobilize financial resources that include a public-private partnership financing approach.

“Now more than ever, it’s crucial for developing countries to be able to access green finance to be able to withstand the worst effects of the climate crisis and transition to a green economy. This MoU will facilitate our joint collaboration toward this common goal and catalyze greater access to the financial resources needed for climate-vulnerable countries to increase their resiliency while recovering from the pandemic,” shared Minister of Environment of the Republic of Korea, HE Jeoung Ae Han.

GGGI and K-Water will expand cooperation in areas including green growth, sustainable water resources management, green energy, climate-resilient water infrastructure, smart cities, carbon neutrality, and WASH (Water, Sanitation, and Hygiene) in developing countries. Moreover, the MoU signed will expedite joint feasibility study and research projects, sharing knowledge and experience through conferences, capacity building seminars, and experts.

“To achieve carbon neutrality, we need to respond to climate by carrying out customized projects. By resolving water-related issues, the adverse impacts of climate change can be effectively addressed since water is a cross-cutting issue. K-water is dedicated to strengthening and supporting the resiliency of developing countries through the development of renewable energy and green infrastructure. Water and sanitation systems are necessary to build back better with a sustainable long-term approach in mind. With the collaboration under this MoU, GGGI and K-Water will work together to facilitate this transition toward net-zero by 2050,” shared Dr Jae Hyeon Park, Chief Executive Officer of K-Water.

GGGI and KEITI will cooperate in environmental fields such as policies, regulatory frameworks and programs, climate change, water management and sanitation, waste management, air pollution, and relevant data. The MoU will facilitate the development and implementation of regional strategies and approach for inclusive green growth and climate-smart development to find opportunities for green ODA projects.

“To overcome the global climate crisis and achieve carbon neutrality and sustainable development, it is crucial for developing countries to be able to implement a green recovery through green ODA projects. KEITI will actively seek ways to provide technical support for GGGI’s regional strategies and action plan in developing countries and continuously collaborate to allocate ODA towards green growth and climate-smart projects to scale-up environmental resilience and inclusive growth,” shared Mr Jechul Yoo, President of KEITI.

“GGGI is very pleased with the new Korean ‘Green New Deal ODA Strategy’ and the Korean government’s commitment to green the Korean ODA to the OECD average by 2030. Through the three MoUs signed today, GGGI will partner with the Korean Ministry of Environment, K-Water and KEITI to develop and implement green ODA projects in GGGI member and partner countries,” shared Dr Frank Rijsberman, Director-General of GGGI.

“Here at COP26, we fight to keep 1.5 alive through commitments for NetZero by 2050 and Zero Deforestation by 2030. Green ODA focuses on economic development that will create green jobs while at the same time accelerating climate action through investments such as in renewable energy, electric mobility or reforestation. Korea and GGGI will partner to support developing countries to implement their green transition towards NetZero.”