P4G Seoul summit unites world leaders for inclusive green recovery and serves as springboard for next climate COP

  • Seoul P4G summit ends May 31st, proclaiming inclusive global green growth in the Seoul Declaration

  • Summit calls for global cooperation in responding to climate change; developed countries announce their support for carbon neutrality; developing countries to accelerate green growth

  • The summit strengthens innovative private-public cooperation in five major areas, contributes to the response to climate change and the proliferation of the new green paradigm

Seoul, South Korea, June 9, 2021 / PRNewswire / – The 2021 P4G Seoul Summit closed its two-day meeting on May 31st with world leaders affirming their commitment to an inclusive green recovery and carbon neutrality. At the first multilateral climate summit hosted by the Republic of Korea, leaders of developed and developing countries discussed measures to respond to climate change and reaffirmed expanding support for green growth in developing countries and their commitment to the objective of the Paris Agreement (to achieve carbon neutrality by 2050).

Major countries such as USA, UK and Germany expressed their determination to reduce greenhouse gas emissions in their country and globally, and to support sustainable growth in developing countries. During the leadership dialogue on May 31stThe President’s Special Envoy for Climate John Kerry noted that to achieve net zero emissions by 2050, three things must be accomplished: ending the use of carbon-intensive fossil fuels, diffusion of clean energy technologies and major investments in such technologies. He said the United States would double its public climate finance to developing countries by 2024.

During the leaders’ meeting on May 30, British Prime Minister Boris Johnson said no government on its own can achieve a green industrial revolution and that international cooperation is imperative to create massive funds for the climate response. He added that the UK will support the transition to a green economy through investments in R&D and technological development. German Chancellor Angela Merkel says that Germany strives to achieve carbon neutrality by 2045 and has pledged to faithfully deliver on its commitment to the international climate fund.

Leaders and senior officials of Bangladesh, Vietnam and other countries said they would accelerate green growth and actively participate in global efforts for carbon neutrality. Prime Minister Sheikh Hasina of Bangladesh said the country has adopted a 100-year sustainable development plan called Delta Plan 2100. She added that Bangladesh focuses on defending the interests of countries vulnerable to climate change and promoting regional adaptation solutions. Vietnamese Prime Minister Phạm Minh Chính stressed the need to build capacity and improve conditions to address climate issues. He also expressed from Vietnam willingness to cooperate for an inclusive green recovery, calling for a more harmonious approach in which developed countries continue to take the lead in emissions mitigation and all stakeholders participate in these efforts.

Chinese Premier Li Keqiang said that for sustainable green development, international cooperation is essential, especially support to resolve the difficulties faced by developing countries. China contribute to a green and low-carbon recovery by committing to become carbon neutral by 2060 and by organizing the 15th Conference of the Parties (COP15) of the United Nations Conference on Biological Diversity, he added.

The Seoul Declaration, adopted following the P4G Seoul Summit, demonstrated the solidarity and determination of the participating countries. The Declaration declares their commitment to overcome the COVID-19 crisis through a green recovery, to limit the increase in the Earth’s temperature to 1.5 degrees Celsius, to accelerate an energy transition away from fossil fuels, to solve the marine plastics issues and to achieve Nationally Determined Contributions (NDCs) under the Paris Agreement.

The Declaration was endorsed by 38 participating countries, including Korea, the United States, Japan and China, and by nine international organizations, including the World Economic Forum (WEF), the International Renewable Energy Agency (IRENA) and the Global Green Growth Institute (GGGI). Angel Gurria, Secretary General of the Organization for Economic Co-operation and Development (OECD), Fatih Birol, Executive Director of the International Energy Agency (IEA), and Bruno Oberlé, Director General of the International Union for Conservation of Nature (IUCN), also expressed their personal support for the Declaration.

President Moon Jae-in expressed his appreciation for the leaders in Twitter posts on June 3, after the summit is closed. In his tweet to US Presidential Special Envoy for Climate John Kerry, Moon said: “We welcome the return of US leadership in the climate change response. ‘Achieving net zero by 2050 is an incredible economic opportunity. ‘ I agree with your remark and look forward to enhanced cooperation between Korea and the United States in our fight against climate change. ” In a tweet to Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF), he said: “The three points you highlighted enriched our discussion session,” referring to his remarks that a successful green transformation requires that the world adopts carbon pricing, green public investments and just transition for those most affected.

The Seoul P4G Summit strengthened public-private collaboration with the participation of leaders and representatives from dozens of nations, international organizations, businesses and civil society groups. In Korea, the preparatory office for the P4G Summit in Seoul organized various events for the response to climate change and sustainable growth, in collaboration with 23 companies, public institutions and non-governmental organizations, including IKEA Korea, Jeju Province Development Co., SK Telecom, Samsung Electronics, Hyosung T&C, Coupang, Pulmuone, Pleatsmama, Tree Planet, World Wildlife Fund (WWF) and Daelim Museum.

Yoo Yeon-cheol, the executive director of the preparatory office for the P4G summit in Seoul said: “The summit is very important for the response to climate change as developing and developed countries have come together to discuss their green cooperation plans and express their commitment. “Thanks to the summit, which is Korea’s first-ever multilateral climate summit, Korea has made a significant contribution to responding to climate change and spreading the new green paradigm. In addition, this event will become an opportunity to go beyond discussions on climate change. focused on developed countries and drive inclusive green growth that engages everyone, ”he added.

P4G 2021 Summit in Seoul (https://2021p4g-seoulsummit.kr)

P4G (Partnering for Green Growth and the Global Goals 2030) was launched in September 2017, directed by Denmark, as a global initiative to accelerate the response to climate change and the achievement of the Sustainable Development Goals (SDGs) through public-private partnerships. Out of the 17 SDGs defined by the United Nations in 2015 with the aim of achieving them by 2030, the P4G specifically targets five objectives related to climate change (food and agriculture, clean water, clean energy, sustainable cities and the circular economy). Twelve countries – the Republic of Korea, Denmark, the Netherlands, Vietnam, Mexico, Chile, Colombia, Kenya, Ethiopia, Bangladesh, Indonesia and South Africa – as well as international organizations (including the World Economic Forum and the Global Green Growth Institute) and private companies participate in the summit. P4G – is a consultative group made up of governments, businesses and civil society organizations, – emphasizes action-oriented public-private cooperation, – is made up of middle-power countries (playing the role of bridge between developing and developed countries) – seeks to build a sustainable economic model (a bridge between development and investment).

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SOURCE Ministry of Foreign Affairs, Republic of Korea


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