Only by addressing global policy framework that green growth impact will be seen-Jagdeo-at Global Green Growth Summit in South Korea

Georgetown, GINA, June 10, 2013

Still disappointed at the scale of action and political will to address clean energy, food security, deforestation and climate change, incumbent President of the Global Green Growth Institute (GGGI) Assembly and former President of Guyana Bharrat Jagdeo believes that the Institute can show what can be achieved through national green growth strategies.

Speaking at the GGGI’s 2013 Summit in Songdo, Korea today, Jagdeo said the Institute can develop the “indisputable” case that inclusive green growth is the only form of development that makes economic and societal sense, supports those who are building examples of inclusive green growth and advocates for the global policy shifts needed progress to be imbedded and sustained.

“…we – in particular, the countries which are Members of the Assembly (GGGI) – 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,” Jagdeo said.

With Brazil successfully at reduced greenhouse gas emissions, Ethiopia aiming to become a middle income country by 2025 through green economy objectives, Guyana maintaining 99.5% of its forest and projecting to cut energy-related emissions by 92% by 2017- and South Korea transforming on a green economic path, Jagdeo said GGGI can add real value by becoming the partner of choice for developing countries.

“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,” Jagdeo said.

The former Head of State who pioneered a revolutionary Low Carbon Development Strategy (LCDS) and was conferred the 2010 Champion of the Earth award, based his proposals on the fact that there is continued global failure at the policy level to address critical issues like capping greenhouse gas emissions and the mobilization of climate financing.

“…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. In major part, this is because the conversation around green growth is still excessively focused on its costs rather than on its opportunities and benefits – such as wealth creation, jobs and economic growth,” Jagdeo said.

The case presented for climate actions is well known; a global warming limit of 2?°C or below that must be achieved by 2015 and implemented by 2020, and climate financing totalling US$100B per annum by 2020.

University access to energy and water, 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 global development without excessive resource depletion, have also been argued as among the much needed policies.

In the past, efforts have been undertaken, but Jagdeo is not convinced that in the recent past, those have come close to what is really required.

“Last year about $207M was invested in green technologies, but we need that to be about $2 trillion, and it is only by addressing the global policy framework that we will truly see the impact we need,” Jagdeo said in his address.

GGGI was launched by former South Korean President Lee Myung-bak three years ago to pioneer a new model of economic growth, known as “green growth” with poverty reduction, job creation and social inclusion as its key priorities.

Jagdeo became a board member at the onset along with Indian economist Montek Ahlhuwalia, Danish politician Ms. Lykke Friis, South African politician Trevor Manuel, and United Nations Executive Secretary of the Economic Commission for Africa (ECA) Abdoulie Janneh.

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