INCHEON, KOREA –December 5, 2013 –To reflect the concerns and inputs of the private sector, the Global Green Growth Institute established an Advisory Committee to provide guidance on the organization’s program of work, including reporting and measuring the execution of its work, and specific country circumstances wherein GGGI is engaged. The Committee held its first meeting in Incheon, Korea on December 5, just prior to the Fourth Session of the GGGI Council.
In recognition that green growth requires the private sector to be a key driving force if scale is to be achieved, GGGI has in recent months strengthened its Public-Private Cooperation efforts –one of three of the organization’s major work streams –by appointing a new Assistant Director-General, Nikolaus Schultze, and by actively engaging private sector members to complement the organization’s work in green growth planning. This Advisory Committee will play a key role in GGGI’s mission to facilitate and incentivize private investment in green growth-related opportunities and technologies.
“In order to successfully pursue its mission, GGGI needs to act as a bridge between the public and private sectors,” said Mr. Schultze. “To do this, we need to identify key areas of green growth investment, key incentive mechanisms to facilitate investment flows, and help improve the risk allocation between the public and the private sectors. Convening this Committee represents a significant step in GGGI’s aims to engage the private sector. We both value the private sector’s input in shaping our strategy and hope we can also be relevant in decision making”
The Committee consists of prominent individuals and experts from a wide array of companies and organizations in the financial services, energy, and green technology sectors. It will meet twice per year in-person while maintaining informal lines of communication throughout the year. The next meeting will be in Paris in April 2014 hosted by the International Chamber of Commerce.
Participants of the first Committee meeting included: Gwen Andrews of Alstrom, Carlos Busquets of the International Chamber of Commerce, Eva Maria Erisgen of BASF, Gary Hattem of Deutsche Bank, Penny Herbst of ESKOM, Takashi Hongo of Mitsui Global Strategic Studies Institute, and Sungwoo Kim of KPMG.
The GGGI Council agreed that the Committee will become the organization’s official Advisory Committee as stipulated in Article 9 of the GGGI Establishment Agreement.
For more information on GGGI’s Public-Private Cooperation work, please see here.