ABU DHABI, January 17, 2013 – The Korean Cabinet signed the Headquarters Agreement the government forged with the Global Green Growth Institute and was signed by the Minister of Foreign Affairs and Trade, Kim Sung-Hwan, at a ceremony during the second session of the GGGI Council in Abu Dhabi.
The second session of the GGGI Council took place concurrently with the World Future Energy Summit, a major convening of global policymakers and private sector leaders to discuss and shape the future of renewable energy held from January 15 to 17.
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.
This development came less than two months after National Assembly of Korea voted to approve the Establishment Agreement of the Global Green Growth Institute on November 22, 2012. With the signing of the Headquarters Agreement, the Korean government is reaffirming its support for GGGI’s mission and goals to promote sustainable economic development. .
“The signing of this Agreement represents a significant milestone in the history of GGGI and its transformation into an international organization. In many ways, this event completes the evolutionary process of changing from a Korean non-profit foundation to a full-fledged international and intergovernmental organization. GGGI as an I.O. now officially has a home, and we couldn’t be happier that it is in Korea,” said Lars Løkke Rasmussen, Chairman of the GGGI Council.
The GGGI Council meeting was the organization’s second as an international organization. Among the agenda items discussed were updates on the status of member states, a presentation on the projected budget for the fiscal year 2013, clarification on the regulations and, measures taken to develop and establish the Advisory Committee and the Sub-Committees of the Council.
Representatives from Australia, Costa Rica, Denmark, Norway, and Korea as well as non-state Council member Kim Sang-hyup, Senior Secretary to the President for Green Growth in Korea and Mr. Richard Samans, Director-General of GGGI attended the meeting.
About GGGI
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.