Global Green Growth Institute joins the Carbon Pricing Leadership Coalition
In April 2021, the Global Green Growth Institute (GGGI) joined the Carbon Pricing Leadership Coalition through its Carbon Pricing Global Practice. GGGI’s Carbon Pricing Global Practice is a leading actor in global piloting of international carbon transactions under Article 6 of the Paris Agreement and brings with it, experience in providing key services in carbon pricing policy design, development of regulatory frameworks and institutional capacity, design and structuring of transactions, and thought leadership. These key services are aimed at unlocking international carbon finance to increase ambition, above and beyond countries’ climate commitments under the Paris Agreement. GGGI offers unique insight and demonstrates pathways to strengthening Article 6’s rapidly forming framework as well as increasing climate ambition beyond Nationally Determined Contributions (NDCs) at the national and supranational levels.
With global calls for ambition on the rise and strong demand from global citizens for action to be undertaken swiftly and decisively on climate change, GGGI also leads with a substantial Article 6 portfolio with major programs that offer solid entry points for decision-makers to respond to the call for bold leadership. Through its programs, GGGI provides technical assistance to GGGI member and partner governments to put in place the required capabilities for engaging in international carbon transactions, in collaboration with resource partners such as the Swedish Energy Agency (SEA) and the Norwegian Ministry of Climate and Environment. These programs aim to result in completed international carbon transactions which will be amongst the first in the world under the Paris Agreement as the UNFCCC rulebook is agreed upon. These international transactions will be some of the early steps that will help lead the way in creating a global price for carbon.
The need for adept technical assistance is vital to the future of carbon trading and GGGI is boldly leading these ‘first-to-market’ opportunities. Capacity building and support are a center piece of standardizing carbon markets as Article 6 of the Paris Agreement necessitates participating countries to have institutional frameworks in place to authorize mitigation transfers. Bridging these gaps in treaty requirements and capacity realities is a matter of utmost importance, amidst the undeniable struggle of countries across the development spectrum to meet their Nationally Determined Contributions and Net Zero goals by 2050. A key part of the GGGI Carbon Pricing Global Practice role is supporting host countries in establishing these frameworks which are needed for sustainable transacting that can facilitate a flow of results-based carbon finance to host countries through not only a continual pipeline of mitigation activities, but also through large-scale national-level policy crediting to achieve transformational change.
All this builds on GGGI’s strong track record as an enabler and facilitator in related issues such as mobilizing green investments, supporting sustainable recoveries, implementation of green growth projects, and helping drive the Net Zero goals. GGGI demonstrates dedication to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies is instrumental works towards building a resilient world of strong, inclusive, and sustainable growth.
For more information
Please visit our website at https://gggi.org/
About GGGI
About GGGI The Global Green Growth Institute (GGGI) is a treaty-based international, inter-governmental organization dedicated to supporting and promoting strong, inclusive and sustainable economic growth in developing countries and emerging economies. GGGI’s mission is to support the transition of its Member and Partner countries toward a model of green growth by developing and implementing strategies that simultaneously achieve poverty reduction, social inclusion, environmental sustainability, and economic growth. By pursuing this mission, GGGI aims to achieve its vision of a resilient world of strong, inclusive, and sustainable green growth.
