IZMIR, TURKEY – 04 June, 2015 – Sustainable development stakeholders gathered yesterday on the invitation of the Turkish G20 Presidency in connection with the G20’s Development Working Group Meeting to launch the G20 mandated dialogue platform “GreenInvest”. Greeninvest will mobilize private capital, in particular from institutional investors, for inclusive green investments in emerging markets.
The genesis of GreenInvest roots in the Mexican G20 Presidency where “Inclusive Green Growth” was established as a priority area for the G20 development agenda and was taken forward by subsequent G20 presidencies. Germany finances the initial establishment of GreenInvest. Ana Luisa Saavedra from the Foreign Affairs Ministry of Mexico said: “We are delighted to see the launch of GreenInvest. The need to stimulate inclusive green growth was a key issue identified for future development under the Mexican G20 presidency. We are grateful to everyone who is assisting in the delivery and look forward to continuing our own support. We wish GreenInvest great success in its important mission.”
The Global Green Growth Institute (GGGI) was responsible for facilitating the establishment of this important dialogue platform. “As an international organization committed to a resilient world, developed through strong, inclusive and sustainable growth, we are very pleased to contribute to a platform that will support the implementation of concrete and bankable green growth projects,” said Miles Austin, Head of GGGI’s Green Investment Services Department.
GreenInvest will serve as a forum for a wide range of public and private stakeholders to support effective knowledge sharing to promote development of new mechanisms to attract private capital for inclusive green growth.
GreenInvest aims to address the challenges investors face in scaling up inclusive green investments in developing countries by working to develop an enabling environment for such investments, finding new and innovative approaches to financing green investments, and enhancing policy and regulatory frameworks.
“Ensuring the effectiveness of increasing inclusive green investments in emerging markets will only be achieved through the efficient and coordinated mobilization of private and institutional capital,” said Susanne Dorasil , Head of Division Sustainable Economic Policy, Financial Sector, at the German Federal Ministry for Economic Cooperation and Development (BMZ). “GreenInvest will serve as a critical platform for enhancing stakeholder dialogue and driving convergence between the many important and innovative green investments that are being initiated.”
Based in London, GreenInvest will focus on 3 key workstreams: Engaging and mobilizing institutional investors for Inclusive Green Investment; Tailoring Global Financial Instruments to Investment Pipelines; and Shaping financial regulation and policies to create an appropriate investment climate.
“GreenInvest is an exciting new public-private initiative with the strength of the G20 behind it. With this backing we will enable significant flows of private sector capital to support scares public capital and really drive inclusive green growth in emerging markets.” said Julian Richardson who will act as Executive Director.
About GGGI
Based in Seoul, GGGI is an intergovernmental organization founded to support and promote a new model of economic growth known as “green growth.” The organization partners with countries to help them build economies that grow strongly and are more efficient and sustainable in the use of natural resources, less carbon intensive, and more resilient to climate change. GGGI’s experts are already working with governments around the world, building their capacity and working collaboratively on green growth policies that can impact the lives of millions.
To learn more, see https://gggi.org and visit us on Facebook and Twitter.