The Seoul Summit of Partnering for Green Growth and the Global Goals 2030 (P4G) resulted in a Leaders’ Declaration on inclusive partnerships among governments, business, and civil society to achieve green recovery and carbon neutrality by 2050. Participants highlighted plans to use green hydrogen as an alternative fuel source, pursue “greener” steel production, achieve carbon-neutral urban mobility, and incorporate circular economy into national planning.
The 2021 P4G Seoul Summit convened from 30-31 May 2021, using a hybrid format with in person participants in Seoul, Republic of Korea, as well as online participation. Discussions pointed to the key role of renewable energy and energy efficiency in a just transition and green, inclusive recovery.
As the Earth Negotiations Bulletin reports, this message was underscored by the Republic of Korea’s announcement that it will end financing for overseas coal-fired power plants.
The Declaration recognizes that the impacts of climate change extend beyond the environment, and affect cities’ quality of life.
The resulting Declaration calls for an inclusive green recovery from COVID-19 as a “progressive strategy” that reflects a just transition, taking into account different national circumstances as well as socially and environmentally vulnerable communities. The Leaders recognize that the impacts of climate change extend beyond the environment, and they commit to encouraging responses to climate change, desertification and land degradation, and biodiversity loss that maximize co-benefits and minimize trade-offs. They also agree on the need for global solidarity to address marine plastic issues, and intend to promote a transition to a “zero-waste society.” They intend to pursue smart and resilient green cities, recognizing that climate action will improve the quality of life, and they will work to enhance the role of local governments in achieving the SDGs and Paris Agreement. On engaging other stakeholders, the Leaders welcome an active role for civil society to raise public awareness, and noted the importance of environment, social, and governance (ESG) standards for corporate performance and evaluation.
The P4G platform was created by the Republic of Korea in 2017 to facilitate market-based partnerships for implementing international goals and agreements. The partner governments are: Bangladesh, Chile, Colombia, Denmark, Ethiopia, Indonesia, Kenya, Mexico, the Netherlands, the Republic of Korea, South Africa, and Viet Nam. P4G also has five organizational partners: World Resources Institute (WRI), World Economic Forum (WEF), the World Bank Group’s International Finance Corporation (IFC), Global Green Growth Institute (GGGI), and C40 Cities.
Colombia will host the P4G Summit in 2023, with a view to triggering “new action so every business and NGO will acknowledge the need to address climate change.” [ENB meeting summary]