Global Green Growth Institute’s Post

#DidYouKnow?🌱 | On December 17, 2024, the Government of Ecuador, supported by the U.S. International Development Finance Corporation , the Inter-American Development Bank, The Nature Conservancy, and Bank of America, completed the largest commercial debt-for-nature swap in history, allocating over USD $460 million for Amazon conservation! #GGGI is proud to have provided essential interministerial technical assistance through the Global Trust Fund on Sustainable Finance Instruments (GTF), financed by the Grand Duchy of Luxemburg. This innovative operation showcases the power of #SustainableFinance in driving environmental preservation and sustainable development in the region.👏 🔗 Learn more about this groundbreaking initiative: https://lnkd.in/eyqBHBkw 🔗About the Amazon Biocorridor Program: https://lnkd.in/e8uiNZ5n

At Export Finance Australia, we are committed to supporting projects of national importance that drive long-term economic growth, create jobs and enhance Australia’s global competitiveness. As part of my presentation on the role of Specialist Investment Vehicles (SIVs) in supporting national priorities at last week’s Investor Roundtable, I talked about our strong track record working in partnership with private investors, our fellow SIVs and our international counterparts. As we work towards a Future Made in Australia, collaboration will be crucial to the country’s transition to a net-zero economy. Attracting more private capital investment is key to building the foundations that will position Australia as a global leader in sustainable industries. 

The African Development Bank’s Board of Directors has approved a $30 million equity investment in Africa Finance Corporation (AFC) for the rollout of innovative “green shares” aimed at mobilising resources for climate action projects across Africa. https://lnkd.in/d6JVn2zH

This is an example of some of the innovative financial facilities that developing countries can access to achieve climate resilience objectives.

Official Statement of YACAP on the Philippines Hosting the Loss & Damage Fund This month, it was announced that the Philippines will host the board of the Loss and Damage Fund. According to Finance Secretary Ralph Recto, “Hosting the LDF Board will unlock more opportunities for the Philippines to accelerate its access to climate finance and investments, which are critical for future-proofing our economy and ensuring sustainable and inclusive growth.” #ClimateJusticeNow #UpholdHumanRights #AbolishNTFELCAC #JunkTerrorLaw #DefenderTheDefenders #LossAndDamage Read the statement here: https://lnkd.in/g_yEQgbv

Ivory Coast Launches USD 500 M Green Finance Fund for Climate Action Ivory Coast has unveiled a USD 500 M green finance fund under the African Green Banks Initiative, led by the African Development Bank. The fund aims to mobilize private capital for climate action and support sustainable development projects across the country. Funding will be sourced from the Ivorian government, the Green Climate Fund, and the Global Environment Facility. Additional funding will come from multilateral development banks and private investors. Managed by the Banque Nationale d’Investissement, the fund will prioritize sustainable projects, including carbon credit programs, to boost resilience to climate change and promote economic growth. #GreenFinance #ClimateAction #SustainableDevelopment #IvoryCoast #AfricanDevelopmentBank #GreenEconomy #ClimateResilience

📢 Over 10 civil society organisations have called on the European Parliament to champion the creation of a Next Generation 2.0 fund. 🤯 The investment needed for the EU's green and just transition is massive! 🤝🌍 We urgently need to establish a Next Generation 2.0 fund to ensure a socially fair transition towards a more resilient and sustainable Europe for all. Read the full recommendations in our statement: https://t.ly/kHKvP

📢 42 civil society organisations have called on the European Commission to ensure the Just Transition Fund remains part of the next EU budget. Here are their key recommendations: ⏺️ Keep the Just Transition Fund as a dedicated financial instrument under the cohesion policy. ⏺️ Preserve the territorial focus of the fund. ⏺️ Apply stronger social conditionalities. ⏺️ Dedicate a minimum proportion of spending to social projects. ⏺️ Strengthen environmental conditionalities. These measures are crucial for ensuring the Just Transition Fund continues to support an environmentally and socially just transition. 📄 Read in more details https://bit.ly/3TxPRfG

It was a true privilege to recently attend the "Deep Dive Meeting on Strategic Partner Assessments in the Directorate-General for Neighborhood and Enlargement Negotiations (DG NEAR)" which was organized by the European Commission (EC) and the European External Action Service in #Brussels.   The discussions focused on socio-economic priorities and strategic investments for driving long-term, sustainable economic growth in #Jordan, #Lebanon, and the #WestBankandGaza. These countries are at critical junctures, and targeted, well-coordinated investments will be instrumental.   During the meeting, I highlighted IFC’s strategic focus on these markets, emphasizing the importance of accelerating the deployment of financial instruments under the European Fund for Sustainable Development Plus (EFSD+). We also explored the need to enhance #PublicPrivatePartnerships and scale up green and #sustainablefinance, particularly through #greenbonds and other capital market innovations. Additionally, we examined ways to de-risk key projects using #blendedfinance instruments, all with the goal of creating more resilient, inclusive economies.   I want to extend my gratitude to our host Gert Jan Koopman, EC's Director General for Neighbourhood and Enlargement Negotiations (NEAR), @Gert Jan Koopman and all our partners for facilitating these valuable discussions. Together, we are strategically positioned to deepen our cooperation and maximize the impact of our collective efforts in the region.   Sergio Pimenta, Wiebke Schloemer, CHEICK-OUMAR SYLLA, Nicolas Souche, Nicolas Marquier, Saad Sabrah, Lada Busevac, Lucia Sousa, Katrin Greisberger, Elona Morina

There is growing need for continued reforms to the existing international financing regime. The Caribbean faces unique challenges with accessing sustainable financing to accelerate work on the implementation of the Sustainable development Goals. With the reality of climate vulnerabilities and undue exposure that many regional economies faces, things cannot be business as usual in terms of how the region interfaces with the global financial system. Check out this video for more insights. Video Credit: The Caribbean Policy Development Center #developmentfinance #Caribbean #sustainability #publicpolicy #internationalfinance