Gggs2013 report

GGGS 2013 Global Green Growth Summit 2013

10 (Mon) - 11 (Tue) June 2013 Songdo Convensia, Incheon City, Republic of Korea

Report

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The Future of Green Growth: Finance, Innovation and Policy

Contents GGGS Introduction

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Keynote address

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Chairman’s speech

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GGGS 2013 report

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GGGS 2013 Program

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Global Green Growth Summit 2013

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Date: 11 June 2013 Time: 10:30 - 12:00

Introduction

The third annual Global Green Growth Summit focused on the nexus between finance, innovation and policy, providing a unique window into international best practice in accelerating the transition to an inclusive green growth pathway.

GGGS Recap Finance: In the realm of finance, much was said about the investment requirements for a green growth transition, barriers to securing investment, the different types of financial institutions and investment vehicles required for green growth, and regulatory regimes that can most effectively encourage green investment.

There is an overwhelming consensus that both public and private financial resources must be mobilized. To do this requires innovative financing instruments and institutions. There is much hope that the newly formed Green Climate Fund can do much to stimulate activity in this space. Although the GCF faces huge challenges and may fall short of its fund-raising goals of 100 billion USD annually by 2020, the very existence of the fund provides an opportunity to demonstrate to the world the benefits and efficacy of green investment.

Likewise, private investment can be encouraged and steered through green investment vehicles, such as hedge funds, funds of funds, and even retail mutual funds that have investment guidelines tailored toward green growth-related enterprises.

Innovation: There was also much discussion about the need for more technological innovation in a green growth transformation.

Advances in technology can do much to lower the costs and barriers to adopting green growth policies. Technological innovations are critical to developing and emerging economies in their quests for economic growth and rising living standards. Cheap, available technology can allow such economies to leap frog dirty stages of development and remain competitive on the global stage, as well as spur job creation in green industries.

Encouraging the development of green technologies remains a challenge, however institutions such as the Green Technology Center Korea and the Masdar Institute in the U.A.E. can play an important role coordinating and integrating research & development-related activities into policy.

Policy: Without sound policy frameworks, money and technology will not flow to those who need it most and thus their effectiveness will be compromised.

Members of the GGGI Council discussed the status of green growth in their respective countries. They shared some lessons that can be learned from the practical implementation of green growth policy. This session was extremely productive in that they were able to discuss GGGI’s role in contributing to green growth in its member countries, both in countries where GGGI has active projects and in those who act as a GGGI financial contributor.

There was a session on energy policy that addressed, in part, how to place green growth on the agenda of energy ministries and agencies in developing countries. There was also one about transport sector policy and the green growth opportunities it presents as countries repair aging and ailing public transportation systems or construct new ones in some of the expanding urban areas of the developing world. Policy matters in water and agricultural were also discussed at length and we heard some very innovative ideas and approaches to greening those two critical sectors.

Green and low carbon growth policies are rapidly being adopted all around the world. The main task now is to help encourage and implement policies that are inclusive and effective in order to create a green growth chain reaction whereby green growth becomes the policy norm.

The Way Forward Partnerships: This policy transformation can only happen through active, involved, and, most of all, innovative international cooperation. The existing institutions and platforms through which international movements are channeled are not sufficient to fully enable the transition to green growth. GGGI is attempting to do its part by taking a new approach to international cooperation and development. Support for new institutions such as GGGI and the GCF is essential for bridging the gap between employing old development policies and designing and implementing new green growth policies. Partnerships between and among older, more established institutions and new ones that target green growth as their mission will help ensure financial resources and institutional knowledge will be deployed in the most effective way.

Date: 10 June 2013 Time: 17:00 - 18:30

KEYNOTE ADDRESS BY HIS EXCELLENCY BHARRAT JAGDEO President of the Assembly of the Global Green Growth Institute and former President of Guyana Distinguished representatives of Governments, Ladies and Gentlemen, Colleagues:

green growth is the only form of growth that makes economic and societal sense, and to work to develop the tools that allow that form of growth to be implemented.

It is a pleasure to be in Korea again, and in particular to be in Songdo for the first time. This new city is both a symbol of the amazing progress that Korea has made over decades, and of how cities can play a critical role in solving many of the sustainability challenges we face today.

Two, we need to support those who are building examples of inclusive green growth to prove that large scale, transformative change is possible.

And three, we need to deploy the power and legitimacy of our entire Membership and networks to advocate for the global policy shifts that are needed if progress is to be embedded and sustained.

I make my first point because - beyond high level rhetoric - the case for green growth is still not sufficiently accepted, or embedded in daily decisions, to make leaders, businesses and citizens fully commit to creating a new economy.

I travelled here after a few days in Canada, and while there, I had the opportunity to meet and speak with many young university graduates who are now setting out to make a contribution to the world. I was struck by their idealism, their energy and their commitment to make a difference in the world – but also by their high sense of expectation that those in leadership positions today are prepared to make the decisions that are needed to face our world’s challenges.

The next generation knows perfectly well the scale and the nature of those challenges. They know about the need for affordable clean energy; they understand the challenges a growing world population presents to long term food security; and they are very aware of the problems of climate change, deforestation and the destruction of bio-diversity.

They don’t need to be convinced about these things; they are long past needing a re-articulation or a redefinition of the problem. They want to see solutions.

And the truth is– despite the valuable work of people in this room and many others - the scale of action to address these challenges is nowhere near what is needed.

So all of us, whether the young people I met, or those of us here today - especially the Members, network and friends of the Global Green Growth Institute - need to ask ourselves: how can we deploy our individual and collective power to address this continued global failure of policy? Without addressing this policy failure, the other topics of this conference – finance and innovation – will prove much harder, because without policy, the signals that businesses need for finance and innovation will not be there at the scale required. Last year about 207 million dollars was invested in green technologies, but we need that to be about 2 trillion dollars, and it is only by addressing the global policy framework that we will truly see the impact we need.

I think that GGGI and its partners can help to address this in three ways: One, we need to keep developing the indisputable case that inclusive 6

The Future of Green Growth: Finance, Innovation and Policy

In major part, this is because the conversation around green growth is still excessively focussed on its costs rather than on its opportunities and benefits - such as wealth creation, jobs and economic growth.

Changing the nature of that conversation is where GGGI and its partners can add real value – through world class analytics which show what can be achieved through national green growth strategies. Today, the science is clear and the high level economic argument is made. But more work is needed before green growth is seen as the only rational choice for countries and businesses.

And GGGI can move the conversation on – especially because there are many policies that can be implemented at little cost, but with real benefits. For example, as the cost of technology decreases, policies to support carbon productivity will improve national competitiveness, without even considering the global carbon good that is also delivered.

GGGI can also help to popularise the argument for green growth by proving that it is also the indispensable element for the achievement of other priority global objectives. In particular, the point needs to be made that inclusive green growth is essential to continuing global success in alleviating extreme poverty, and can be the key to reaching the historic target of eliminating extreme poverty by 2030. Similarly, green growth is indispensable in the global fight for equity and justice.

There is no solution to the problems of climate change if a billion people, mainly women, continue to use dirty stoves. There is no solution to food security unless hundreds of millions of small holder farmers are able to participate in a market which pays them a fair price for their food and labour. There is no solution to water shortages unless we are able to create incentives for the stewards of the forests and land that are responsible for our rainfall. All of these objectives are part of a hardheaded argument for green growth – as well as supporting the moral and ethical arguments that nobody should be left behind.

These arguments are needed because history is only partially useful as a guide. No historical data contains 9 billion citizens consuming energy, minerals and food. No historical data contains 3 billion people in the middle class. The twenty-first century is throwing up new challenges which need new arguments.

But precisely because of history’s limited use as a guide, we also need new examples of how progress is possible - and this leads me to the second point that I want to make about the role of GGGI and its network and friends.

The stark reality is that the remaining, over-arching obstacle to green growth today remains a policy obstacle. This is not because we don’t know what policies are needed. Most people understand the broad parameters. Climate policies that create public and private incentives to get the world onto a 2 degree trajectory or less; sustainable energy and water policies that enable universal access to both; forest and land use policies that preserve vital biodiversity and eco-system services; and sustainable agriculture and mining policies to support universal food security and continued global development without excessive resource depletion.

It is not policy expertise that is missing.

Plenty of examples are already emerging.

Few people know that the greatest greenhouse gas emissions reduction in history happened in Brazil which, since 2005, has reduced greenhouse gas emissions by more than the entire European Union combined - while increasing exports, reducing poverty and growing strongly. Ethiopia is now one of the fastest growing economies in the world, and is aiming to become a middle income country by 2025 through the achievement of green economy objectives. My own country, Guyana will cut energy-related emissions by 92% by 2017- more than any country in the developed world - while maintaining 99.5% of our forest, and investing heavily in a suite of low carbon social and economic opportunities. Our hosts, Korea, are building on their first rapid transformation from a developing country to a developed country into a second transformation on to green economic path.

What is missing can be summarized in two words, which may be a bit of cliché by now, but are still undeniably needed. That is “political will”.

And we – in particular, the countries which are Members of the Assembly – have the legitimacy, the reach and the influence to change the policy environment at a national and global level in a way that few can.

We cannot afford to fail again in agreeing a global climate deal that contains the level of ambition needed to get onto a 2 degree pathway or less. The agreement must be made by 2015, it must be implemented by 2020, and climate financing of the scale agreed in Cancun – namely US$100 billion by annum by 2020 – must be mobilised. If today’s leaders and those who influence them sleep walk mobilized through the next few years, the window to make these things happen will close, and they will be responsible for a catastrophic derogation of responsibility to the generation which follows.

There are many other examples, but we need more.

GGGI can add real value by becoming the partner of choice for developing countries who will lead the way. Traditional methods of global co-operation do not possess the institutional agility to change at the speed required – but GGGI can possess this agility.

This is a new way of working – and developed countries in particular must have the intellectual confidence and vision to see that their own objectives are best served by supporting the home-grown visions of developing countries.

I recognise that the three points I make present significant challenges to all recognize our thinking. Each contribution is valuable in its own right, but individually, this is not enough. It is through the combination of all three elements - robust analytics around the case for green growth; real life proof at scale; and an informed and critical mass of countries and citizens advocating for systemic, international policy change - that the transformative power of GGGI will become a reality rather than a vision.

However, we must not mis-interpret the impressive gains made through examples as being sufficient to deliver the scale of change that we need. There are some essential outcomes that can only be achieved through global agreement.

After GGGI’s conversion into an International Organisation last year, and the building of its networks in recent years, the Institute and its partners can match the scale of ambition I have outlined.

Settling for less would be a failure of nerve.

Thank you.

And that leads me to my third point. Despite all the power in world class analytics to put forward the green growth argument, and all the usefulness of real world examples, we should not get blinded by the fact that these in themselves cannot deliver a solution at the scale required.

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Date: 10 June 2013 Time: 15:00 - 16:30

Remarks by Lars Løkke Rasmussen Chair of the GGGI Council

Distinguished Participants, Esteemed Colleagues, Welcome and thank you for attending and participating in the third annual Global Green Growth Summit. It is an honor and a pleasure for me to address a group of such distinguished experts and policymakers.

I would like to start by acknowledging the hosts and partners of this year’s summit for putting together such an impressive convening: the Ministry of Foreign Affairs, the Ministry of Environment, the Ministry of Strategy and Finance, and, of course, the organizer, the Global Green Growth Institute.

Ladies and Gentlemen: Three years ago, the Global Green Growth Institute was founded here in Korea. Based in large part on Korea’s domestic vision of low-carbon green growth, the fledgling organization quickly attracted the support of other governments, including my own, Denmark, and a little more than two years later, in October 2012, GGGI became an international treaty-based organization with 18 member countries, multiple regional and field offices, and a growing cadre of experts in the new field of green growth. As of now, GGGI is the world’s only international organization dedicated solely to developing and diffusing green growth theory and practice.

Aside from the phenomenal pace with which GGGI became an international organization, we have also rapidly expanded our green growth activities. In the three short years since our establishment, we have grown to include projects in close to 20 developing countries, helped to lead some of the largest and most comprehensive cooperative research initiatives in the field of green growth, and scaled up our efforts in public-private cooperation by being a key partner in a 8

The Future of Green Growth: Finance, Innovation and Policy

major international platform for PPPs, the Global Green Growth Forum.

So we have come a long way in a short time. And for this enormous accomplishment, we owe thanks to the extraordinary leadership and momentum created by the founding member states, especially GGGI’s host nation, the Republic of Korea. As GGGI’s membership expands, and as we embark upon new projects in nearly every corner of the globe, the organization is becoming stronger and is forming its own unique identity. And yet, those early days, when GGGI was very much a Korean dream, will impact and shape the organization for the foreseeable future. As such, we are an international organization with an international agenda and an international mandate, but we retain a bit of a Korean character and we recognize the enormous support we get from the Korean government and people.

As an international organization, GGGI plays an important and unique role in promoting green growth through, among other things, stimulating a South-South dialogue. We believe we can improve the economic, environmental and social conditions of developing countries by acting as a bridge between developed and developing countries and the public and private sectors.

This is a worthy vision indeed. And despite serious concerns surrounding the state of the global economy, and despite concerns about financial commitments to climate change adaptation and mitigation, our vision of green growth is as relevant as ever. And GGGI and its partners are as committed as ever to shifting the growth paradigm to global green growth.

To be sure, the road is long and the challenges are great. Thankfully the commitment to green growth is not shared only among GGGI’s member countries. As is evidenced by this great summit here today, the commitment is becoming far-reaching and deep. All of you

Date: 10 June 2013 Time: 15:00 - 16:30

here, in a wide array of capacities, have also made the commitment to green growth. Meetings such as the GGGS not only serve to explore new ideas and further refine existing green growth policies and concepts but also help to build momentum and help make green growth a policy norm. These types of meeting and initiatives also play a crucial role in providing policymakers the tools they need to affect change and in bringing to the public knowledge and ideas that we need to bring change from the ground up.

Our young international organization, GGGI, is also deeply involved in several other initiatives designed to build momentum to shift the growth paradigm. We are one of the lead organizations of the Green Growth Knowledge Platform, which will be holding a session here tomorrow. The GGKP is attempting to build a network of people who share knowledge and information on green growth theories and practices and build the best, most practical green growth policies for governments to adopt.

Likewise, the Green Growth Best Practice initiative in which GGGI is also taking a lead role, tries to synthesize the myriad of green growth ideas and policies into a set of best practices in order to guide policymakers in planning and implementing green growth in the real world.

GGBP is also represented here today and will be holding a side event.

These types of initiatives are instrumental in moving green growth forward into the mainstream and into the realm of policymaking at local and national levels.

Of course, all of these things require financial resources, and the conditions of the world economy makes this more challenging than before.

though we have made great strides in bringing green growth into the mainstream, there is concern it could take a backseat in the near future due to fiscal constraints.

Solutions to this challenge are one of the central issues this GGGS will address.

With the theme The Future of Green Growth Finance, Innovation and Policy, at its core, the Summit will consider: critical finance and investment requirements innovative approaches to technology development and policy and fiscal instruments as a transformational drivers We already know, the international community has taken an important step in addressing issues surrounding climate finance by establishing the Green Climate Fund to mobilize and channel climate finance to developing countries. But how it will reach its target of 100 billion dollars a year by 2020 is at this point up in the air, as are what its methods of delivery will be. It is my hope that the GGGI and the Green Climate Fund will, over time, become sister organizations. If GGGI is successful in delivering implementation through its green growth planning program, we will take a big step in helping GGGI’s partner countries become ‘GCF Ready.’ I look forward to hearing possible proposed solutions to these and other questions here at GGGS. We have such an impressive group of people that I am confident that the ideas and proposals that arise from this Summit will be important in continuing to move green growth forward.

Thank you and, once again, welcome to the Global Green Growth Summit 2013.

All countries, from the least developed to the most advanced nations, face what they view as more immediate policy priorities. And so, alGlobal Green Growth Summit 2013

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Global Green Growth Summit 2013 10-11 June, Songdo Convensia, Incheon, Republic Korea 10

The Future of Green Growth: Finance, Innovation and Policy

Global Green Growth Summit 2013 10-11 June, Songdo Convensia, Incheon, Republic Korea

Global Green Growth Summit 2013

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Date: 10 June 2013 Time: 10:30 - 12:00

Plenary I: Delivering Green Growth Representatives from Mexico, Denmark, Mongolia, Ethiopia and Cambodia provided unique insights into the challenges and opportunities presented through the implementation of green growth policies in their countries. The key challenges discussed during the panel included issues surrounding sustainable energy development and energy pricing and incorporating poverty reduction as a key platform of green growth.

In addition, participants discussed about factors required for the success of green growth policies including: removing subsidies the non-renewable energy, introducing social safety nets, and diversifying revenue expenditure to ensure that development is sustainable.

By incorporating poverty reduction into green growth strategies, economic growth improves overall as more jobs are created, more people are given access to electricity and education, and overall productivity increases. In addition, environmental degradation can be addressed through tree planting initiatives and a shift towards localized green energy resources, as well as a reduction in the use of inorganic and unsustainable agricultural methods.

It is evident that developing countries are now more aware of the importance of initiating Green Growth policies than ever before. However, developing countries face far more challenges and disadvantages than developed countries when implementing green policies. Thus, it is critical that established avenues of international cooperation continue to play a prominent role in knowledge-sharing, capacity building, and green growth implementation.

While the past discussions have always been about the tradeoffs between growth and sustainability, green growth provides us with a middle path where we can pursue both.

The role of GGGI is to keep the green growth debate central to development aspirations in specific GGGI and others is to keep and internationally.

Moderator: • Mr. Howard Bamsey, Director-General, GGGI

Lead Speech: • H.E. Dr. Christian Friis Bach, Minister for Development Cooperation, Kingdom of Denmark

Discussants: • H.E. Mr. Juan José Guerra, Minister of Environment and Natural Resources, United Mexican States • H.E. Dr. Mok Mareth, Senior Minister and Minister of Environment, Kingdom of Cambodia • H.E. Dr. Sanjaasuren Oyun, Minister of Environment and Green Development, Mongolia • H.E. Ato Sileshi Getahun, State Minister of Agriculture, Federal Democratic Republic of Ethiopia

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The Future of Green Growth: Finance, Innovation and Policy

Date: 10 June 2013 Time: 13:30 - 15:00

Plenary II: Green Financing: Instruments, Institutions and Regulations The level of investment in energy development is higher than ever before. However, the growing importance of renewable energy also means an increased level of risk in energy investment. Current investment trends in green growth and renewable energy signal that sustainable energy is no longer seen as an “alternative” option but a global norm. Currently available financial instruments and financial systems present a number of obstacles to future green investments. One significant obstacle discussed in this Plenary was the ongoing deleveraging of banks that began with the financial crisis several years ago. This process has been discouraging investors from taking risks. In addition, unstable government policies and volatile return rates on green investments are also hindering to active investment in green energy-related enterprises.

In order to increase financing of green growth, the nature of the global financial system must be included in the discussion. Public finance is indeed important but it alone is insufficient.

The need for more investment from the private sector is paramount. Private investment, however, is constrained by factors such as uncertainty, risks, and government policies. Action at various levels are required and international organizations including Green Climate Fund can play a key role in unlocking private investment by initiating changes in the global financial architecture.

In order to successfully mitigate climate change and reduce the discrepancies between the global North and South, we must increase the amount of financing and investments by a factor of nearly ten. We can achieve this figure by re-evaluating current finance structures and policies used in commercial banks, and, also, by cultivating other forms of private investments and creating new international institutions. Analyzing current systems at the micro and macro levels will help create situations with the lowest risk possible while offering higher benefits.

Moderator: • Mr. Dominic Waughray, Senior Director, Head of Environmental Initiatives, World Economic Forum

Lead Speech: • Mr. Michael Liebreich, Chief Executive, Bloomberg New Energy Finance

Discussants: • Mr. Vikram Widge, Head, Climate Finance & Policy, International Finance Corporation • Dr. Jung Hong-Sang, Director General for International Economic Cooperation, Ministry of Strategy and Finance, Republic of Korea & Alternate Member of GCF Board • Mr. Amar Bhattacharya, Director of the Secretariat, Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24)

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Date: 10 June 2013 Time: 17:00 - 18:30

Plenary III: Green Growth Transformation Renewed interest in sustainable development under the new heading of green growth is a constructive response to the recent global financial and economic crises and the challenges brought by climate change. Participants explored positive aspects of low-carbon growth and policies that need to be put in place to ensure that this change is inclusive, innovative and effective in preventing negative environmental impacts caused by resource extraction and other human activities.

Both public and private involvements are urgently needed to achieving a successful transition to low carbon economic growth. This is about both the dynamics of innovation and learning and creating benefits beyond the definition of GDP. Green growth can be achieved with the inclusion of poor if the implementing institutions are well-managed and are cooperating with government.

Global green policy efforts will take the current economic growth to higher level. That is to say they will not only help bring economic growth but also help reduce carbon emissions – and thus help slow the impacts of climate change. However, for most developing countries, climate change mitigation is still not considered a priority issue. Developing countries are far more focused on mitigation.

Moderator: • Dr. Alex Bowen, Principal Research Fellow, Grantham Research Institute on Climate Change and Environment, London School of Economics

Lead Speech: • Lord Nicholas Stern, IG Patel Professor of Economics & Government and Chair, Grantham Research Institute on Climate Change and the Environment, London School of Economics (via video)

Discussants: • H.E. Dr. Rene Castro-Salazar, Minister of Environment, Energy and Telecommunications, Republic of Costa Rica • Dr. Masahiro Kawai, Dean and CEO, Asian Development Bank Institute (ADBI) • Dr. Kirit Parikh, Former Member, Planning Commission & Chairman, Integrated Research and Action for Development

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The Future of Green Growth: Finance, Innovation and Policy

Date: 11 June 2013 Time: 10:30 - 12:00

Plenary III: Technology and Innovation Innovation is the driving force for economic growth, and it is critical to a green growth transformation, which depends to a large extent on rapid invention, adaptation and diffusion of new technological and business solutions. Participants discussed why emerging economies should be encouraged to further invest in innovation technology to foster rapid green economic growth by looking at successful business cases in different countries.

Innovation and technology is one of the central pillars for development and the driving force for economic growth. Emerging economies face two main tasks: to reduce the gap with the developed economies and to come up with innovative solutions to achieve green growth. However, it is also important to address the need for changing the current institutional structures.

Moderator: • Dr. Jason Eis, Deputy Director of Green Growth Planning & Implementation, GGGI

Lead Speech: • Dr. Changmo Sung, President, Green Technology Center Korea (GTC-K)

Discussants: • Dr. Nawal Al-Hosany, Director of Sustainability, Masdar and Director, Zayed Future Energy Prize • Mr. Peter Haas, Founder and Executive Director, Appropriate Infrastructure Development Group • Dr. H. Harish Hande, Managing Director and co-Founder, SELCO-India • Dr. Nathan Hultman, Fellow, Global Economy and Development Program, Brookings Institution • Dr. Kevin Urama, Executive Director, Africa Technology Policy Studies Network

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Date: 10 June 2013 Time: 17:00 - 18:30

Closing Plenary The closing plenary offered a overview of key points discussed during the Summit. In particular, the following questions were discussed in length: (1) what are the critical investment, technology and policy requirements to drive green growth forward; (2) what are innovative approaches for delivering the required finances and how do we get there; and (3) what is the role of the Global Green Growth Institute in enhancing the implementation of green growth in developing countries.

Several key points were identified as fundamentally necessary for developing countries. These points aimed to help achieve greater technology development by adopting recommended green growth strategies. The key points discussed were as follows: (1) Relevant policies, political will and technological innovations are key aspects to sustainable and inclusive economic growth.

(2) The main identified ways to gather and maintain innovative required finances for green growth, are: private sector financing, bringing different sectors, crowd funding, etc.

(3) The role of the GGGI is to help enhance capacity building as well as to provide green economy knowledge sharing programmes for developing and emerging countries.The Summit promotes partnerships working, creativity and inclusivity. Governments and environmental experts and private sector representatives gather to exchange their knowledge and share their ideas. The GGGS is a great policy learning platform where opinions and data are gathered and evaluated. As an international organization, the GGGI promotes a diversity of voices and facilitates meaningful participation of other international representatives.

(4) Korean government currently focuses on economic well-being as known as “Creative Economy” which aims to integrate creativity with science and technology. Creative Economy can be achieved by making current governmental regulations easier and simpler that people who running small business can understand the regulations that apply to their businesses.

Moderator: • Mr. Howard Bamsey, Director-General, GGGI

Lead Speech: • Dr. Choi Soon-Hong, Senior Secretary for Future Strategies, Office of the President, Republic of Korea

Discussants: • H.E. Mr. Juan José Guerra, Minister of Environment and Natural Resources, United Mexican States • H.E. Mr. Tiarite Kwong, Minister for Environment, Land and Agricultural Development, Republic of Kiribati

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The Future of Green Growth: Finance, Innovation and Policy

Global Green Growth Summit 2013 10-11 June, Songdo Convensia, Incheon, Republic Korea

Global Green Growth Summit 2013

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Date: 10 June 2013 Time: 15:00 - 16:30

Parallel Sessions I: Financing Green Growth Plans- Energy The “greening” of the world’s energy supply, the smarter management of that energy, and its most efficient use are at the heart of the green growth transition. Cities consume one third of the world’s energy and account for more than 70 percent of global CO2 emissions. Aggregate energy demand is expected to grow by more than a third by 2035. Moreover, the risks of climate change and growing resource scarcity point to the urgent need for a transformative approach.

In the discussion of climate change, energy is the central factor that will determine the success of all other strategies. Green energy must be financed on a much larger scale to meet the needs of the developing world while promoting green growth and carbon reduction at the same time. Uncertainty and lack of risk disclosure leads to reluctant investors, preventing the development and use of green energy to a scale that can achieve true climate change mitigation. There must be a discussion on what policies and incentives can be applied to not only encourage green energy start-ups but also push larger, more established companies to transition to green energy. Start-up money is more readily available than money to continue financing green growth projects, therefore the lack of mid to large-sized energy companies limits rapid energy market expansion.

For example, we can see how South Africa has made a rapid shift towards a reliance on renewable energy by implementing the following elements: government cooperation, high investor rewards, and creating cultural awareness and opportunities offered by green growth.

However, it is important to note that solutions and policies must be localized, taking into account the local culture, infrastructure, politics, and environmental surroundings in order to be highly effective.

In addition, the following elements have an important role to play in fostering the transition towards clean energy and green societies: political will, transparency and active dialogues with investors, and developing the right investment policies for clean energy. There is no one single solution for all countries but different institutional and cultural situations must be taken into account in creating solutions.

Moderator: • Mr. Mark Halle, Executive Director, International Institute for Sustainable Development Europe (IISD-Europe) and Vice President, IISD

Discussants: • Dr. Kirit Parikh, Former Member, Planning Commission, Republic of India & Chairman, Integrated Research and Action for Development • Mr. Martin Hiller, Director General, Renewable Energy & Energy Efficiency Partnership (REEEP) • Dr. Doug Arent, Executive Director of the Joint Institute for Strategic Energy Analysis, National Renewable Energy Laboratory (NREL) • Ms. Sharmala Naidoo, Director, Misuka Green Development Solutions 18

The Future of Green Growth: Finance, Innovation and Policy

Date: 10 June 2013 Time: 15:00 - 16:30

Parallel Sessions I: Financing Green Growth Plans- Transport Investment in green transport infrastructure is being hampered by current global fiscal constraints. Public funds alone may not be sufficient to stimulate a paradigm shift. However, it should be noted that a growing share of transport financing from climate funds and development aid programs are moving from constructing infrastructure to supporting green transport technologies and policies. Considering this as well as other challenges and dynamics of the global environment, participants discussed how the green transition in the transport sector can be accelerated through innovative financing mechanisms, advanced technologies and transformative policies.

The global economic crisis and the inclination to maintain the financial status quo (financial constraints) limit current objectives in the field of green technology. This situation strongly suggests that there is a need for rethinking the traditional roles of the various actors in the realm of financing transport schemes. The private sector needs to be more actively involved in order to more forcefully drive innovation in the sector.

The transport sector requires a major shift toward embracing public-private cooperative financing mechanisms that embrace green transport technologies. In order to overcome existing and potential constraints, major focus should be placed on innovative policy development and implementation, financial diversification, and collaboration with different actors and stakeholders. .

Moderator: • Mr. Stephen Perkins, Head of Research, International Transport Forum, OECD

Discussants: • Mr. Leng Thun Yuthea, Under Secretary of State, Ministry of Public Works and Transport, Kingdom of Cambodia • Dr. Oh Jaehak, Vice President, The Korea Transport Institute • Mr. B.I. Singal, Director General, Institute of Urban Transport (India)

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Date: 10 June 2013 Time: 15:00 - 16:30

Parallel Sessions I: Financing Green Growth Plans- Water

The United Nations has designated 2013 as the International Year of Water Cooperation in recognition of the importance of water, and water’s cross-cutting roles across all sectors, including energy, agriculture, fisheries, transport, and industry. 783 million people still lack access to proper drinking water and 2.6 billion still lack access to improved sanitation services. Global demand for water will soar by 55 percent over the next 50 years. The following issues were raised on the panel: establishing effective global policies on water, translating policies into practical action on the ground through cuttingedge, innovative technologies and proper allocation of funds.

Water contributes greatly to the social economic development of all countries and societies. In the most developed countries, water has been indispensable for progressive national development and economic growth, as a driving force for green economy and growth, and for creating tremendous opportunities for the poor. Studies have shown that investment in proper water management can boost GDP per capita and facilitate structural reforms and change in industry.

It was also noted that water related disasters are becoming more visible. In addition to the increasing number of disasters and affected people, regional disasters now have global impacts as economies and societies become increasingly interrelated and interdependent. Natural disasters are increasing not only in numbers but also in its intensity. Developing countries are becoming more vulnerable to natural disasters.

By reimaging water security with an integrated approach by the governments, institutions and communities, it will be easier to achieve prosperity. A nexus of food, energy, water, and security will lead to effective green growth. Furthermore, polices related to natural resources, including water, should be well thought-through and a holistic approach to water governance should be taken; participation, innovation, education, partnership extensions, and integrated governance are keys to alleviating contemporary problems.

Moderator: • Mr. Anders Berntell, Executive Director, 2030 Water Resources Group, International Finance Corporation

Discussants: • Dr. Hyo-Seop Woo, President, Korea Institute of Construction Technology (KICT) • Dr. M. Aslam Chaudhry, Head of Office, United Nations Office for Sustainable Development (UNOSD) • Dr. Arunabha Ghosh, Chief Executive Officer, Council on Energy, Environment and Water (CEEW) • Dr. Kuniyoshi Takeuchi, Director, International Centre for Water Hazard and Risk Management • Dr. Torkil Jønch Clausen, Chief Water Policy Adviser, DHI Group

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The Future of Green Growth: Finance, Innovation and Policy

Date: 10 June 2013 Time: 15:00 - 16:30

Parallel Sessions I: Financing Green Growth PlansAgriculture and Food Security

Globally, agriculture accounts for 30 percent of employment, 34 percent of land-use, 70 percent fof water use, and 30 percent of greenhouse gas emission. Moreover, due to the rise in the level of CO2 emissions and the impacts of climate change on agriculture, ensuring a transition to a green economy should be considered as critical. In this session, the participants explored options for putting agricultural green growth policies at the heart of the policymaking agenda.

In developing countries, agriculture supports a large proportion of livelihoods. Agriculture in Ethiopia, for example, is characterized by a low level of productivity and high vulnerability to climate variability and the future impact of climate change. Furthermore, the amount of emissions under a ‘business as usual’ scenario is set to increase remarkably. In the developed world, agriculture is characterized by high productivity, mechanization, low overall employment and high commercialization. In addition, the potential for reducing emissions is much less and current vulnerability is lower.

In order to balance the need of increased food production and maintain a safe working environment, farmers must realize the importance of sustainable farming and able to act responsibly. In addition, farmers should have access to a portfolio of solutions but also the freedom to experiment what best works for each of them as the part of policy.

Regarding the international policy implications, policy solutions often impede the work on green growth. Initiatives aimed at adapting to climate change are important, however additional policies aimed at reducing carbon emissions addressing erosion resilience must be reviewed and developed. Carbon credit schemes that help to incentivize people to reduce gas emissions was offered as an example.

Moderator: • Dr. Kilaparti Ramakrishna, Executive Director, 2030 Water Resources Group, International Finance Corporation

Discussants: • H.E. Ato Sileshi Getahun, State Minister of Agriculture, Federal Democratic Republic of Ethiopia • H.E. Dr. Christian Friis Bach, Minister for Development Cooperation, Kingdom of Denmark • Ms. Shayleen Thompson, F irst Assistant Secretary of Land Division, Department of Climate Change and Energy Efficiency, Commonwealth of Australia • Mr. Varad Pande, Officer on Special Duty to India’s Minister for Rural Development, Republic of India.

Global Green Growth Summit 2013

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Global Green Growth Summit 2013 10-11 June, Songdo Convensia, Incheon, Republic Korea

Report: Global Green Growth Summit 2013 10-11 June, Songdo Convensia, Incheon, Republic Korea 22

The Future of Green Growth: Finance, Innovation and Policy

Global Green Growth Summit 2013

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Date: 11 June 2013 Time: 13:30 - 15:00

Parallel Sessions II: Measuring Progress and Financing Future Growth New Financing Architecture for Sustainable Infrastructure Due to the various constraints in public financing and the lack of private investment, the current financial architecture has proved to be insufficient in financing sustainable infrastructure, particularly in developing countries. The need for private investment in green growth infrastructure has increased, however attracting investors has posed a number of difficulties. Through the creation of new institutions such as the Green Climate Fund and projects and programs by existing international institutions such as the World Climate Fund, new partnerships between public and private sector investors are being explored in order to determine the best mix of involvement that will maximize investment and returns while simultaneously mitigating risks.

In terms of the existing financial architecture there are several key areas that currently serve as obstacles to accomplishing these goals, including capital leveraging requirements, the deleveraging of banks in Europe, and restrictive regulations on bank lending in the post financial crisis era. Additional challenges include mitigating risks to make investments in green growth projects attractive for investors, making investment in renewable energy a more profitable prospect than investment in fossil fuels, and the inherent nature of investment in green infrastructure, which typically generates long-term low returns. New institutions and current projects underway offer us insights to different ways to overcome these obstacles while also highlighting the changes that must be made if we are to successfully finance the green growth infrastructure transition in a timely manner.

Moderator: • Dr. Mattia Romani, Deputy Director-General, GGGI

Lead Speech: • Mr. Amar Bhattacharya, Director of the Secretariat, Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24) • Mr. Ewen McDonald, Deputy Director General, The Australian Agency for International Development (AusAID) & co-Chair of Green Climate Fund

Discussants: • Ms. Mmakgoshi Phetla-Lekhethe, Deputy Director-General, International and Regional Economic Policy Division, National Treasury, Republic of South Africa • Ms. Brindusa Fidanza, Associate Director, Deputy Head of Climate Change Initiatives, World Economic Forum • Mr. Emanuele Fanelli, Senior Vice President – Investor Initiatives, CDP

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The Future of Green Growth: Finance, Innovation and Policy

Date: 11 June 2013 Time: 13:30 - 15:00

Parallel Sessions II: Measuring Progress and Financing Future Growth Fiscal Instruments for Green Growth Fiscal instruments are important to encourage the transition to green growth. They provide the basis for redirecting investments towards clean and efficient technologies in a time of global financial restraint period, ., and ensuring that environmental externalities are adequately reflected in decision-making processes. Participants explored the various instruments including public procurement, trade policy, and the redeployment of subsidies from fossil fuels to renewable energies and assess their effectiveness.

Financing on fossil fuels is moving in the wrong direction. Government should recast their subsidy policies and move towards re-allocation of subsidies so that they can help tackle climate change impacts and, also, take a closer step towards achieving green growth.

Participants also discussed a variety of tools and approaches that can be used to influence governments’ green growth activities in both the short term and long term. With heavy involvement of the public sector in infrastructure, governments can promote innovation by creating more opportunities for green technology development and application.. Suggested solutions include: reforming energy subsidies to increase investments in public goods and renewable energy and raising awareness of the importance of examining and differentiating carbon tax policies on a national and international level. Countries such as Pakistan and Mexico have been working towards implementing such carbon tax policies.

Moderator: • Mr. Vikram Widge, Head, Climate Finance & Policy, International Finance Corporation

Discussants: • Mr. Rod Hilton, Assistant Director General, Global Funds and Financing Branch, Australian Agency for International Development • Dr. Ehtisham Ahmad, Senior Fellow, Center for Development Research (ZEF), University of Bonn • Mr. Mark Halle, Executive Director, International Institute for Sustainable Development Europe (IISD-Europe) and Vice President, IISD • Dr. Dimitri Zenghelis, Principal Research Fellow, Grantham Research Institute on Climate Change and the Environment, London School of Economics

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Date: 11 June 2013 Time: 13:30 - 15:00

Parallel Sessions II: Measuring Progress and Financing Future Growth Measuring Progress: Green Growth Indicators In this session, panelists discussed various ways to strengthen the framework for monitoring progress on green growth, the first step of which was the launch of the joint publication on green growth indicators at the Green Growth Knowledge Platform (GGKP) Annual Conference in early April 2013. The session focused on the key priorities and the gaps remaining for further research and and considering in particular the use of green growth indicators.

GGKP was launched with an aim of to obtain, relevant, up-to-date and reliable data and information on practical and theoretical approaches to green growth. People at all levels in governments, businesses, NGOs, and others need to be actively engaged. Indices to show the results of green growth research and policy efforts are important for determining which aspects of green growth are most effective. These indices can be used to develop policy guidelines relevant to different development contexts and circumstances. They need to provide useful advice on countries’ specific needs, capacity creation, and data collection. Further efforts for cooperation, knowledge sharing, and communication across institutions and communities will continue.

Moderator: • Mr. Ben Simmons, Deputy Director-General, GGGI

Presentation: • Dr. Ziga Zarnic, Director of the Secretariat, Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24)

Discussants: • Dr. Ir. Endah Murniningtyas, D eputy Minister and Head of Natural Resource and Environment, State Ministry of National Development Planning (BAPPENAS) • Dr. Sang In Kang, Senior Specialist, United Nations Office for Sustainable Development (UNOSD) • Mr. Sheng Fulai, H ead of Research and Partnerships Unit, Economics and Trade Branch, Division of Technology, Industry and Economics, United Nations Environment Programme (UNEP) 26

The Future of Green Growth: Finance, Innovation and Policy

Global Green Growth Summit 2013 10-11 June, Songdo Convensia, Incheon, Republic Korea

Global Green Growth Summit 2013

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Date: 11 June 2013 Time: 13:30 - 15:00

Program GGGS Eve 18:00 – 20:00 Grand Ballroom(3F), Sheraton Hotel

DAY 1

Sunday, 9 June Welcoming Dinner (Invitation Only) Hosted by Mr. Song Young-Gil, Mayor of Incheon Metropolitan City

Monday, 10 June

08:00 – 09:30

Registration

10:00 – 10:30

Opening Ceremony Opening Video

Premier Ballroom (2F)

Welcome Remarks • H.E. Mr. Lars Løkke Rasmussen, Chair of the Council, GGGI

Keynote Address • H.E. Mr. Bharrat Jagdeo, President of the Assembly, GGGI and Former President, Co-operative Republic of Guyana

10:30 – 12:00

Plenary I Delivering Green Growth

Premier Ballroom (2F)

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The session is designed to present the views of the GGGI Council members as to the status of the green growth discussion in the current economic and development debate in their countries and internationally, particularly in this period of fiscal and economic crisis.

The focus of the session is on lessons, both in terms of challenges and opportunities, from the practical implementation of green growth policy. The session also explores how the GGGI can contribute to keeping the green growth debate central to development aspirations, both in specific countries and internationally.

The Future of Green Growth: Finance, Innovation and Policy

Date: 11 June 2013 Time: 13:30 - 15:00

Moderator • Mr. Howard Bamsey, Director-General, GGGI

Lead Speech Premier Ballroom (2F)

12:00 – 13:30 Premier Ballroom (2F) 13:30 – 15:00

• H.E. Dr. Christian Friis Bach, Minister for Development Cooperation, Kingdom of Denmark

Discussants • H.E. Mr. Juan José Guerra, Minister of Environment and Natural Resources, United Mexican States • H.E. Dr. Mok Mareth, Senior Minister and Minister of Environment, Kingdom of Cambodia • H.E. Dr. Sanjaasuren Oyun, Minister of Environment and Green Development, Mongolia • H.E. Ato Sileshi Getahun, State Minister of Agriculture, Federal Democratic Republic of Ethiopia

Luncheon Hosted by the Ministry of Foreign Affairs, Republic of Korea

Plenary II Green Financing: Instruments, Institutions and Regulations The session will outline the developments in financing and financial markets to deliver the investment required to drive the green growth transition. In particular, panelists will focus on the key issues and questions including what are the investment requirements for the green growth transition and the barriers to securing this investment; what innovative public financing instruments can effectively leverage private investment to accelerate green growth; what are the roles of public financial institutions, from development banks to sovereign wealth funds, in delivering green growth; how can financial regulators best encourage green investment; and how can shareholder activism encourage business to adopt green practices?

Premier Ballroom (2F)

Moderator • Mr. Dominic Waughray, Senior Director, Head of Environmental Initiatives, World Economic Forum

Lead Speech • Mr. Michael Liebreich, Chief Executive, Bloomberg New Energy Finance

Discussants • Mr. Vikram Widge, Head, Climate Finance & Policy, International Finance Corporation • Dr. Jung Hong-Sang, Director General for International Economic Cooperation, Ministry of Strategy and Finance, Republic of Korea & Alternate Member of GCF Board • Mr. Amar Bhattacharya, Director of the Secretariat, Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24) • Mr. Hans Olav Ibrekk, Policy Director, International Energy and Climate Initiative – Energy+, Ministry of Foreign Affairs, Kingdom of Norway and Chair, UNFCCC Adaptation Fund

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Date: 11 June 2013 Time: 13:30 - 15:00

15:00 – 16:30

Parallel Sessions I Financing Green Growth Plans Energy The “greening” of the world’s energy supply, the smarter management of that energy, and its more efficient use are at the heart of the green growth transition. Energy accounts for more than 70 percent of worldwide carbon dioxide emissions. Aggregate energy demand is expected to grow more than a third by 2035. Moreover, the risks of climate change and resource scarcity point to urgent need for a transformative approach. Yet a green growth transition in the energy sector is not the main concern of energy ministries and agencies around the world. With this in mind, this session will focus on how a green growth approach can be put at the center of the policy agenda, especially in emerging economies.

#117 (1F)

Moderator • Mr. Mark Halle, Executive Director, International Institute for Sustainable Development Europe (IISD-Europe) and Vice President, IISD

Discussants: • Dr. Kirit Parikh, Former Member, Planning Commission, Republic of India & Chairman, Integrated Research and Action for Development • Mr. Martin Hiller, Director General, Renewable Energy & Energy Efficiency Partnership (REEEP) • Dr. Doug Arent, Executive Director of the Joint Institute for Strategic Energy Analysis, National Renewable Energy Laboratory (NREL) • Ms. Sharmala Naidoo, Director, Misuka Green Development Solutions

Transport

#115 (1F)

Investment in green transport infrastructure is being hampered by current global fiscal constraints and public sector financing alone may not be sufficient to stimulate a paradigm shift. A growing share of transport financing from climate funds and development aid programs is also moving from the construction of infrastructure to supporting green transport technologies and policies. Considering this dynamic and challenging global environment, this session will focus on how the green transition in the transport sector can be accelerated through innovative financing mechanisms, advanced technologies, and transformative policies.

Moderator • Mr. Stephen Perkins, Head of Research, International Transport Forum, OECD

Discussants: • Mr. Leng Thun Yuthea, Under Secretary of State, Ministry of Public Works and Transport, Kingdom of Cambodia • Dr. Oh Jaehak, Vice President, The Korea Transport Institute • Mr. Kim Chan, Chairman & CEO, Veolia Transport RATP • Mr. B.I. Singal, Director General, Institute of Urban Transport (India)

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The Future of Green Growth: Finance, Innovation and Policy

Date: 11 June 2013 Time: 13:30 - 15:00

Water The United Nations has designated 2013 as the International Year of Water Cooperation in recognition of the importance of water, and water’s cross-cutting aspects, which demand attention at all levels and across all sectors including energy, agriculture, fisheries, transport and industry. 783 million people still lack access to proper drinking water and 2.6 billion still lack access to improved sanitation services. Global demand for water will soar by 55% over the next 50 years. This session seeks to identify the way forward towards establishing effective global policies on water, and how such policies can be translated into practical action on the ground through cutting-edge, innovative technologies and properly allocated funds.

#109 (1F)

Moderator • Mr. Anders Berntell, Executive Director, 2030 Water Resources Group, International Finance Corporation

Discussants • Dr. Hyo-Seop Woo, President, Korea Institute of Construction Technology (KICT) • Dr. M. Aslam Chaudhry, Head of Office, United Nations Office for Sustainable Development (UNOSD) • Dr. Arunabha Ghosh, Chief Executive Officer, Council on Energy, Environment and Water (CEEW) • Dr. Kuniyoshi Takeuchi, Director, International Centre for Water Hazard and Risk Management • Dr. Torkil Jønch Clausen, Chief Water Policy Adviser, DHI Group

Agriculture and Food Security Globally, agriculture accounts for 30 percent of employment, 34 percent of land-use, 70 percent of water use and 30 percent of greenhouse gas emission. Moreover, due to current emissions and the impacts of climate change on agriculture, ensuring a transition to a green economy is critical. The session seeks to explore options for putting agricultural green growth policies at the heart of the policymaking agenda.

#106 (1F)

Moderator • Dr. Kilaparti Ramakrishna, D irector, ESCAP Subregional Office for East and North-East Asia

Discussants • H.E. Ato Sileshi Getahun, State Minister of Agriculture, Federal Democratic Republic of Ethiopia • H.E. Dr. Christian Friis Bach, Minister for Development Cooperation, Kingdom of Denmark • Ms. Shayleen Thompson, First Assistant Secretary of Land Division, Department of Climate Change and Energy Efficiency, Commonwealth of Australia • Mr. Varad Pande, Officer on Special Duty to India’s Minister for Rural Development, Republic of India

16:30 – 17:00

Coffee Break

Global Green Growth Summit 2013

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Date: 11 June 2013 Time: 13:30 - 15:00

17:00 – 18:30

Plenary III Green Growth Transformation The renewed interest in sustainable development under the new heading of green growth is a constructive response to the recent global financial and economic crisis and the challenge of climate change. This session is designed to explore the positive aspects of lowcarbon growth and the policies that need to be put in place to ensure that it is inclusive, innovative and effective in preventing environmental degradation, especially as a result of human-induced climate change.

Moderator Premier Ballroom (2F)

• Dr. Alex Bowen, Principal Research Fellow, Grantham Research Institute on Climate Change and Environment, London School of Economics

Lead Speech • Lord Nicholas Stern, IG Patel Professor of Economics & Government and Chair, Grantham Research Institute on Climate Change and the Environment, London School of Economics (via video)

Discussants: • H.E. Dr. Rene Castro-Salazar, Minister of Environment, Energy and Telecommunications, Republic of Costa Rica • Dr. Masahiro Kawai, Dean and CEO, Asian Development Bank Institute (ADBI) • Dr. Kirit Parikh, Former Member, Planning Commission & Chairman, Integrated Research and Action for Development

19:00 – 21:00 Grand Ballroom ( 3F), Sheraton Hotel

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Dinner (Invitation Only)

Hosted by the Ministry of Strategy and Finance, Republic of Korea

The Future of Green Growth: Finance, Innovation and Policy

Date: 11 June 2013 Time: 13:30 - 15:00

DAY 2

Tuesday, 11 June

08:30 – 10:00

Registration

10:00 – 10:20

Keynote Address

Premier Ballroom (2F)

10:30 – 12:00

“Green Growth: Looking Back, Looking Forward” • Dr. Soogil Young, Former Chairman of the Presidential Committee on Green Growth (PCGG), Republic of Korea and Visiting Professor and Director, Program on Green Growth & Sustainable Development (GGSD), KDI School of Public Policy and Management, Korea Development Institute

Plenary IV Technology and Innovation Innovation is the driving force for economic growth, and it is critical to a green growth transformation, which depends to a large extent on rapid invention, adaptation and diffusion of new technological and business solutions. For emerging economies, this will be a critical challenge, and major opportunity in relation to a green growth development pathway. This session will explore how emerging economies should encourage innovation for rapid and green economic growth.

Premier Ballroom (2F)

Moderator • Dr. Jason Eis, Deputy Director of Green Growth Planning & Implementation, GGGI

Lead Speech • Dr. Changmo Sung, President, Green Technology Center Korea (GTC-K)

Discussants • Dr. Nawal Al-Hosany, Director of Sustainability, Masdar and Director, Zayed Future Energy Prize • Mr. Peter Haas, Founder and Executive Director, Appropriate Infrastructure Development Group • Dr. H. Harish Hande, Managing Director and co-Founder, SELCO-India • Dr. Nathan Hultman, Fellow, Global Economy and Development Program, Brookings Institution • Dr. Kevin Urama, Executive Director, Africa Technology Policy Studies Network

12:00 – 13:30 Premier Ballroom (2F)

Luncheon

Hosted by the Ministry of Environment, Republic of Korea

Special Address : “Green Growth to 2052 – a Forecast for the Next 40 Years” • Dr. Jørgen Randers, Professor of Climate Strategy, BI Norwegian Business School

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Date: 11 June 2013 Time: 13:30 - 15:00

13:30 – 15:00

Parallel Sessions II Measuring Progress and Financing Future Growth New Financing Architecture for Sustainable Infrastructure This session explores the shortcomings of the current financial architecture for investing in sustainable infrastructure in developing and emerging countries and will discuss potential solutions. It will provide an assessment of the needs for sustainable infrastructure, as well as assess and quantify the current investment flows to developing and emerging countries. The session will also elaborate on the key bottlenecks to investment, with a particular focus on what is preventing larger private sector investment. Innovative financial institutions will be highlighted, such as the Green Climate Fund and the proposed New Development Bank recently announced at the BRICS Summit, as well as public-private partnerships such as the Green Growth Action Alliance in the context of the G20.

Moderator #117 (1F)

• Dr. Mattia Romani, Deputy Director-General for Green Growth Planning & Implementation, GGGI

Lead Speech • Mr. Amar Bhattacharya, Director of the Secretariat, Intergovernmental Group of Twenty-Four on International Monetary Affairs and Development (G-24) • Mr. Ewen McDonald, Deputy Director General, The Australian Agency for International Development (AusAID) & co-Chair of Green Climate Fund

Discussants • Mr. Christian Rwakunda, Permanent Secretary, Ministry of Infrastructure, Republic of Rwanda • Ms. Mmakgoshi Phetla-Lekhethe, Deputy Director-General, International and Regional Economic Policy Division, National Treasury, Republic of South Africa • Ms. Brindusa Fidanza, Associate Director, Deputy Head of Climate Change Initiatives, World Economic Forum • Mr. Emanuele Fanelli, Senior Vice President – Investor Initiatives, CDP

Fiscal Instruments for Green Growth Fiscal instruments are important to encourage the transition to green growth. They provide the basis for redirecting investments towards clean and efficient technologies in a financially restrained world, and ensuring that environmental externalities are adequately reflected in decision-making processes. This session will explore the various instruments including public procurement, trade policy, and the redeployment of subsidies from fossil fuels to renewable energies and assess their effectiveness.

#115 (1F)

Moderator • Mr. Vikram Widge, Head, Climate Finance & Policy, International Finance Corporation

Discussants • Mr. Rod Hilton, Assistant Director General, Global Funds and Financing Branch, The Australian Agency for International Development (AusAID) • Dr. Ehtisham Ahmad, Senior Fellow, Center for Development Research (ZEF), University of Bonn • Mr. Mark Halle, Executive Director, International Institute for Sustainable Development Europe (IISD-Europe) and Vice President, IISD • Dr. Dimitri Zenghelis, Principal Research Fellow, Grantham Research Institute on Climate Change and the Environment, London School of Economics

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The Future of Green Growth: Finance, Innovation and Policy

Date: 11 June 2013 Time: 13:30 - 15:00

Measuring Progress: Green Growth Indicators

This session seeks to build on the framework for monitoring progress on green growth, the first step for which was the launching of the joint publication on green growth indicators at the Green Growth Knowledge Platform (GGKP) Annual Conference in early April this year. The session focuses on key priorities and gaps remaining for further research and analysis and considering in particular the use of green growth indicators in a policy context and remaining challenges in this regard.

Moderator

• Mr. Ben Simmons, Manager, Green Growth Knowledge Platform (GGKP) Secretariat

#109 (1F)

Presentation

• Dr. Ziga Zarnic, Policy Analyst, OECD

Discussants

• Dr. Ir. Endah Murniningtyas, Deputy Minister and Head of Natural Resource and Environment, State Ministry of National Development Planning (BAPPENAS), Republic of Indonesia • Dr. Yu Hai, Director and Senior Research Fellow, Division of Environmental Strategy, Policy Research Center for Environment and Economy, Ministry of Environmental Protection, People’s Republic of China • Dr. Sang In Kang, Senior Specialist, United Nations Office for Sustainable Development (UNOSD) • Mr. Sheng Fulai, Head of Research and Partnerships Unit, Economics and Trade Branch, Division of Technology, Industry and Economics, United Nations Environment Programme (UNEP)

15:00 – 15:30

Coffee Break

15:30 – 16:00

Closing Plenary Summary by drawing together the important points arising from the proceedings of the Summit, particularly in relation to the important questions of (1) what are the critical investment, technology and policy requirements to drive forward green growth; (2) what are the innovative approaches for delivering the required finances and how do we get there; and (3) what is the role of the GGGI in enhancing the implementation of green growth on the ground in developing countries?

Premier Ballroom (2F)

Moderator

• Mr. Howard Bamsey, Director-General, GGGI

Lead Speech

• Dr. Choi Soon-Hong, Senior Secretary for Future Strategies, Office of the President, Republic of Korea

Discussants

• H.E. Mr. Juan José Guerra, Minister of Environment and Natural Resources, United Mexican States • H.E. Mr. Tiarite Kwong, Minister for Environment, Land and Agricultural Development, Republic of Kiribati • Mr. Christian Rwakunda, Permanent Secretary, Ministry of Infrastructure, Republic of Rwanda

16:00 – 16:10

Closing Remarks

Premier Ballroom(2F)

• Mr. Howard Bamsey, Director-General, GGGI

Global Green Growth Summit 2013

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Date: 11 June 2013 Time: 13:30 - 15:00

GGGS Eve 18:00 – 20:00 그랜드볼룸(3층) 쉐라튼 인천 호텔

DAY 1

2013년 6월 9일 (일) 환영 리셉션 (송영길 인천광역시장 주최) * 초청자 대상

2013년 6월 10일 (월)

08:00 – 09:30

등록

10:00 – 10:30

개회식 개회 영상

프리미어볼룸(2층) 송도컨벤시아

환영사 라르스 뢰케 라스무센 글로벌녹색성장기구(GGGI) 이사회 의장

기조 연설 바라트 자그데오 글로벌녹색성장기구(GGGI) 총회 의장 및 가이아나 전 대통령

10:30 – 12:00

총회I 녹색성장의 구현 이 세션은 GGGI 이사진들이 직접 참여해 실질적인 녹색성장 정책 수립을 위한 논의가 진행될 것입니다. 특히 녹색성장의 국내 및 국제적 중요성, 녹색성장의 발전에 있어 국제협력의 필요성, GGGI가 각 나라와 국제적 녹색성장 계획에 어떻게 기여할 것인지에 관해 토론이 이루어질 것입니다.

진행 프리미어볼룸(2층) 송도컨벤시아

하워드 뱀지 글로벌녹색성장기구(GGGI) 사무총장

기조 연설 크리스티앙 프리 바흐 덴마크 개발협력부 장관

패널 토론 후안 호세 게라 멕시코 환경자원부 장관 목 마레트 캄보디아 환경부 장관 산야수렌 오윤 몽골 환경부 장관 아토 실레시 게타훈 에티오피아 농림부 장관

36

The Future of Green Growth: Finance, Innovation and Policy

Date: 11 June 2013 Time: 13:30 - 15:00

12:00 – 13:30

오 찬 (외교부 장관 주최)

13:30 – 15:00

총 회 II 녹색 금융 이 시간에는 녹색성장을 위한 필요한 투자 관련 자금 조달 및 금융 시장의 성장에 대해 설명할 것입니다. 녹색성장으로 전환 시 필요한 투자와 그 자금 충원 시 발생하는 장벽, 녹색성장 가속화에 있어 민간 투자를 이끌어 낼 수 있는 혁신적인 정책 지원, 개발은행과 국부펀드 등 녹색성장 관련 공공 금융 기관의 역할, 금융 규제 기관의 녹색 투자 장려 방안과 민간 기업의 주주들로 하여금 자발적으로 녹색 방안을 채택하게 할 수 있는 방안 등에 대하여 토론이 이루어질 것 입니다.

진행 프리미어볼룸(2층) 송도컨벤시아

도미닉 오프리 세계경제포럼(WEF) 환경분과 수석이사장

기조 연설 마이클 리브리히 블룸버그 뉴에너지 파이낸스 최고경영자

패널 토론 비크람 위지 국제금융공사(IFC) 기후자금 및 정책 분야 팀장 정홍상 기획재정부 대외경제 협력관 및 녹색기후기금(GCF) 대리 이사 아마르 바타차르야 G24 사무국장 한스 올라브 이브렉 노르웨이 외교부 국제에너지 및 기후변화 정책국장 겸 유엔기후변화협약(UNFCCC) 기후변화 적응기금 의장

15:00 – 16:30

분과 세션 I 녹색성장 계획 재정 지원 녹색성장을 향한 재정 지원과 기술 및 제도의 융합이 국가적, 지역적 차원에서 일관되게 이루어질 수 있는지, 그 해답을 찾아볼 것입니다.

에너지

#117 (1층)

녹색성장 전환에 있어 국제 에너지 자원 공급의 녹색화와 효율적인 에너지 운영과 사용은 빼놓을 수 없을 것입니다. 현재 세계적으로 이산화탄소 배출에 있어 에너지는 사용은 약 70%를 차지하며, 2035년까지 에너지 수요는 약 1/3 정도 더 늘어날 것이라고 예상됩니다. 기후변화의 위험과 한정된 자원은 에너지 공급에 큰변화의 필요성을 긴급하게 요구하고 있지만, 녹색성장 전환은 아직까지 전 세계적으로 에너지 관련 부서와 업체들의 중요 관심 사항이 아닙니다. 본 세션은 어떻게 녹색 성장이, 특히 개도국의 주요 정책 아젠다에 포함될 수 있을지 중점을 두며 진행될 것입니다.

진행 마크 할레 국제지속가능개발연구소(IISD) 소장

패널 토론 키리트 파리크 인도 전 국가기획위원회 위원 및 인도 발전종합연구사업부(IRADe) 대표 마틴 힐러 재생에너지 및 에너지효율성 프로그램(REEEP) 사무총장 더그 아렌트 미국 국가신재생에너지연구소(NREL) 전략에너지 분석부 공동연구소장 샤르말라 나이두 미수카 녹색개발 솔루션 소장

Global Green Growth Summit 2013

37

Date: 11 June 2013 Time: 13:30 - 15:00

수송 금융 위기에서 초래된 재정 제약에 의한 녹색수송 인프라에 대한 투자는 현재 미비하며, 녹색수송으로의 패러다임 전환을 유도하기에는 공공부분의 재정 역시 부족한 상태입니다. 또한 수송부문 투자의 큰 부분을 차지했던 기후자금 및 개발원조 프로그램 분야보다 녹색교통기술 및 정책관련 인프라분야가 더욱 많은 조명을 받고 있습니다. 이러한 유동적인 상황 속에서 금번 세션에서는 혁신적인 재정 매커니즘, 첨단 기술, 변화하는 청책들을 통해 수송부문의 녹색전환이 가속화할 수 있는 방안을 알아보게 될 것입니다.

#115 (1층)

진행 스티븐 퍼킨스 OECD 국제수송포럼 연구팀장

패널 토론 렝 뚠 유떼아 캄보디아 공공사업·교통부 차관 오재학 한국교통연구원 부원장 김 찬 베올리아 트랜스포트 RATP 회장 B.I. 시갈 인도 도시교통연구소 소장

수자원 UN은 2013년을 국제 물 협력의 해로 지정하고 에너지, 농업, 운송, 제조업 등을 포함해 사회 전반에 영향을 미치는 물의 중요성과 다양성을 알리기로 했습니다. 여전히 전 세계적으로 약 8억 명의 사람들이 식수가 부족하며 26억 명의 사람들이 열악한 위생시설에서 살고 있습니다. 하지만 물의 수요는 향후 50년간 55% 이상 늘어날 것입니다. 이번 시간에는 효과적인 수자원 관리를 위한 국제적 정책을 수립하는 방법과 어떻게 이런 정책들이 새로운 기술과 제대로 된 재정지원을 받아 실제적으로 시행될 수 있을지 논의될 것입니다.

#109 (1층)

진행 앤더스 번텔 국제금융공사(IFC) 2030수자원그룹 대표

패널 토론 우효섭 한국건설기술연구원(KICT) 원장 M. 아슬람 차우드리 유엔지속가능발전센터(UNOSD) 팀장 아루나바 고시 인도 에너지·환경수자원협회(CEEW) 회장 쿠니요시 타케우치 국제 물 재해 및 위기관리센터(ICHARM) 소장 토킬 존크 클라우센 DHI 그룹 수자원 정책 수석 자문위원

농업과 식량 전 세계적으로 농업은 고용시장에서 30%를 차지 하고 있으며 전체 토지 의 34%, 수자원 의 70%가 농업 을 위해 사용되고 있습니다. 또한 전 세계 온실가스 배출의 30%가 농업으로 인해 발생되고 있습니다. 이런 온실가스 배출과 기후변화가 농업에 끼치는 영향을 고려해보면 녹색 경제로의 전환은 절대적으로 필요합니다. 이번 세션은 녹색 농업 성장 정책이 정책마련 아젠다에 포함될수 있는 방안들에 대해 살펴 볼것 입니다.

#106 (1층)

진행 킬라파르티 라마크리시나 유엔 아시아 태평양 경제사회위원회(UNESCAP) 동북아지역 사무소 국장

패널 토론 아토 실레시 게타훈 에티오피아 농림부 정무장관 크리스티앙 프리 바흐 덴마크 개발협력부 장관 셰이린 톰슨 호주 기후변화 에너지효율부 토지 분할 차관 보좌관 바라드 판데 인도 농촌개발부 특별 연구원

38

The Future of Green Growth: Finance, Innovation and Policy

Date: 11 June 2013 Time: 13:30 - 15:00

16:30 – 17:00

휴식

17:00 – 18:30

총 회 III 녹색성장 변화 의제 중 ‘성장’이라는 측면에 초점을 맞춰, 기술과 정책을 포함하여 향후 수십 년 간 무엇이 녹색성장을 이끌 것인지에 관해 심도 있게 논의해 볼 것 입니다.

진행 프리미어볼룸(2층) 송도컨벤시아

알렉스 보웬 런던 정경대 그랜탐 기후변화·환경연구소 수석연구원

기조 연설(비디오) 니콜라스 스턴 경 런던 정경대 IG Patel 교수 및 그랜탐 기후변화·환경연구소 의장

패널 토론 르네 카스트로 살라자르 코스타리카 환경·에너지·통신부 장관 마사히로 가와이 아시아개발은행연구소(ADBI) 학과장 및 최고경영자 키리트 파리크 인도 전 국가기획위원회 위원 및 인도 발전종합연구사업부(IRADe) 대표

19:00 – 21:00 그랜드볼룸(3층) 쉐라튼 인천 호텔

DAY 2

만찬 (부총리 겸 기획재정부 장관 주최) * 초청자에 한함

2013년 6월 11일 (화)

08:30 – 10:00

등록

10:00 – 10:20

기조 연설

프리미어볼룸(2층) 송도컨벤시아

양수길 대통령직속 녹색성장위원회(PCGG) 전 위원장 및 한국개발연구원(KDI) 국제정책대학원 녹색성장지속가능개발(GGSD) 프로그램 디렉터 겸 초빙교수

Global Green Growth Summit 2013

39

Date: 11 June 2013 Time: 13:30 - 15:00

10:30 – 12:00

총 회 IV 기술과 혁신 혁신은 전환에 중요한 방안에

경제 성장의 원동력이며 신속한 발명, 적응, 신기술과 사업적 해결방안의 전파에 좌우되는 녹색성장 있어 반드시 필요합니다. 기술적 혁신은 개도국 녹색성장에 있어 가장 큰 난관이지만 이를 이룬다면 기회가 될 것입니다. 이번 세션은 개도국이 신속한 녹색 경제 성장을 위해 혁신을 장려할 수 있는 대해 모색하고 논의하고자 합니다.

진행 프리미어볼룸(2층) 송도컨벤시아

제이슨 아이스 글로벌녹색성장기구(GGGI) 녹색성장사업팀 부실장

기조 연설 성창모 녹색기술센터(GTC-K) 원장

패널 토론 나왈 알 호사니 자예드 미래에너지상 총괄자 겸 마스다르 지속가능성 대표 피터 하스 AIDG 창립자 겸 대표 H. 하리쉬 한데 인도 SELCO 공동창립자 겸 대표이사장 나탄 헐트먼 브루킹스 연구소 연구원 케빈 우라마 아프리카 기술 정책 연구 네트워크(ATPS) 대표

12:00 – 12:30 프리미어볼룸(2층) 송도컨벤시아 13:30 – 15:00

오 찬 (환경부 장관 주최) 특별 연설 요르겐 랜더스 노르웨이 경제학교 기후전략 교수

분과 세션 II 녹색성장 평가와 재정 지속 가능한 기반 구축을 위한 새로운 금융체계 개발도상국 및 신흥 국가의 지속 가능한 인프라 투자를 위해 금번 세션에서는 현재 금융 구조의 한계 뿐만 아니라 이를 해결하기 위한 방안들을 모색하게 됩니다. 본 세션은 지속가능한 인프라의 요구에 대한 평가를 제공하고 개발도상국 및 신흥국가의 투자 흐름에 대해 평가하는 자리입니다. 또한 민간부문의 투자를 방해하는 장애물이 무엇인지에 초점을 맞추어 투자 관련 병목현상에 대해 논의할 예정입니다. G20의 녹색성장실천동맹 (G2A2)과 같은 공공-민간분야 협력관계 및 BRICS 서밋에서 언급된 바와 같이 새로운 개발은행과 같은 혁신적 금융기관과GCF는 더욱 조명받게 될 것입니다.

#117 (1층)

진행 마티아 로마니 글로벌녹색성장기구(GGGI) 사무차장

기조 연설 아마르 바타차르야 G24 사무국장 이원 맥도날드 호주국제원조기구(AusAID) 부국장 및 녹색기후기금(GCF) 공동 의장

패널 토론 크리스티앙 르완쿤 르완다 기간 산업부 사무 차관 음마코시 페틀라 레케테 남아프리카공화국 재정부 국제경제정책과 부국장 브린두사 피단자 세계경제포럼(WEF) 기후변화 이니셔티브 본부장 임마누엘 파넬리 탄소정보공개프로젝트(CDP) 투자자 이니셔티브 수석부사장

40

The Future of Green Growth: Finance, Innovation and Policy

Date: 11 June 2013 Time: 13:30 - 15:00

녹색성장을 위한 재정수단 녹색성장으로의 전환에 있어서 국가 재정 정책은 중요합니다. 국가 재정 정책은 친환경적인 신기술에 투자를 이끌어내고 정책이나 결정을 내려야 할 시에 환경적인 요소를 고려하게 합니다. 이번 세션에서는 공공 조달, 무역 정책, 화석 연료 에서 재생가능에너지로의 보조금 재배당 등과 같은 여러 재정 정책을 살펴보고, 그 효과에 대해 논의할 것입니다.

#115 (1층)

진행

비크람 위지 국제금융공사(IFC) 기후자금 및 정책 분야 팀장

패널 토론

로드 힐튼 호주 국제개발청(AusAID) 국제기금 및 재원지부 부국장 에티샴 아흐마드 본대학교 개발연구센터 선임연구원 마크 할레 국제지속가능개발연구소(IISD) 부소장 및 IISD 유럽 지부 소장 디미트리 젠게리스 런던 정경대 수석연구원

녹색성장 평가 이번 세션은 녹색성장 모니터링 기반을 구축하고자 합니다. 올해 4월 초에 있었던 녹색성장지식플랫폼 (GGKP) 연례 회의의 녹색성장 지표 관련 공동출판 기념식은 그에 대한 첫 걸음이라 할 수 있습니다. 이 세션은 향후 연구 및 분석에 있어 존재하는 주요 우선순위에 초점을 두며, 특히 정책분야에서 쓰이는 녹색성장 지표와 그에 따른 문제점에 대해 다루게 됩니다.

#109 (1층)

진행

벤 시몬스 녹색성장지식플랫폼(GGKP) 사무국 매니저

기조 연설

지가 자닉 OECD 정책분석가

패널 토론

Ir. 엔다 머닝트야스 인도네시아 환경자원부 국가개발기획청 차관 겸 대표 위 하이 중국 환경보호부 환경경제정책연구센터 선임연구원 겸 센터장 강상인 유엔지속가능발전센터(UNOSD) 선임연구원 셩 풀라이 유엔환경계획(UNEP) 기술산업경제부 경제무역사무소 연구 및 파트너십 부문 대표

15:00 – 15:30

휴식

15:30 – 16:00

폐회 총회 아래의 주요 질문들을 포함하여 금번 서밋에서 논의되었던 주요 내용들을 함께 정리: (1) 녹색성장으로의 전환을 촉진하기 위해 필요한 투자, 기술 및 정책 요건은 무엇인가? (2) 필요 재원을 조달하는 혁신적 접근은 무엇이며, 어떻게 그 재원을 확보할 수 있는가? (3) 개발 도상국의 녹색성장 계획 실현을 지원하고자하는 글로벌녹색성장기구의 역할은 무엇인가?

진행 프리미어볼룸(2층) 송도컨벤시아

하워드 뱀지 글로벌녹색성장기구(GGGI) 사무총장

기조 연설

최순홍 청와대 미래전략 수석비서관

패널 토론

후안 호세 게라 멕시코 환경자원부 장관 티아리테 퀑 키리바시 환경토지농업개발부 장관 크리스티앙 르완쿤 르완다 기간 산업부 사무 차관

16:00 – 16:10 프리미어볼룸(2층) 송도컨벤시아

폐회사 하워드 뱀지 글로벌녹색성장기구(GGGI) 사무총장

Global Green Growth Summit 2013

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Summary Report Global Green Growth Summit 2013

10 (Mon) - 11 (Tue) June 2013 Songdo Convensia Incheon City Republic of Korea

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The Future of Green Growth: Finance, Innovation and Policy