SEOUL –June 25, 2013 – The Korean National Assembly ratified the Headquarters Agreement of the Global Green Growth Institute today, with an overwhelming majority voting in the affirmative. Out of 215 lawmakers in attendance, 199 voted to ratify the Agreement, 3 voted against, and 13 either abstained or were not present for the vote.
Under the Headquarters Agreement, the Korean government recognizes that GGGI is an “international organization with international legal personality and capacity to perform legal acts required for the performance of its constitutional functions, in particular, to conclude treaties, to contract, to acquire and dispose of property and to participate in legal proceedings.” The Agreement also stipulates that GGGI staff and dependents will be subject to certain immunities and obligations, similar to that of other major international organizations.
“We are delighted the Korean government has resoundingly ratified GGGI’s Headquarters Agreement. In many ways, this represents the final step in our journey to becoming an International Organization,” said GGGI Director-General Howard Bamsey after the vote was held.
GGGI was established as a non-profit organization under Korean law in 2010, and converted into an International Organization in October 2012.
GGGI is an international organization dedicated to developing and diffusing a new paradigm of economic growth – green growth – which simultaneously balances economic performance and environmental sustainability. Headquartered in Seoul and founded in June 2010, GGGI works in long-term partnership with developing and emerging economies through rigorous green growth planning, research and public-private cooperation.