The Governments of Denmark, China, Kenya, Korea, Mexico, Qatar, Ethiopia, Vietnam and Chile have launched the Global Green Growth Forum (3GF) to realise the potential for long-term global, inclusive green growth.
It is overwhelmingly evident that the world’s current economic growth model is no longer sustainable.
At the same time, the transition to a green economy is part of the answer to some of the world’s most pressing challenges: depletion of natural resources, economic crisis, world global poverty and climate change.
If handled intelligently, this transition – often referred to as the green industrial revolution – can by itself propel a new wave of economic growth and secure long-term economic growth, including development in emerging economies and developing countries while mitigating the risks of climate change.
However, neither market forces nor international policies can be relied on to push for this transition by themselves. Markets will eventually react to global resource scarcities. But by then, detrimental climate changes will be a reality and the foundation for future growth seriously undermined. The same problem of slow pace, unfortunately, seems increasingly to be true of the inter-governmental agreements.
Partner Countries behind the Global Green Growth Forum (3GF)
Faced with this challenge, in 2011, the Danish Government together with the Governments of Korea and Mexico launched the Global Green Growth Forum (3GF) - a global public-private initiative to promote the transition to a green economy. In 2012, China, Kenya and Qatar joined the 3GF as partner countries, Ethiopia joined in 2014 and in 2016 Chile and Vietnam also became partner countries.
The idea behind the Forum is as simple as it is promising: Bringing all relevant parties together in order to intensify large-scale public-private action to accelerate the transition to a green economy.
3GF proposes to test a new international architecture for green growth. This takes the form of a concerted bottom-up approach to collaboration among businesses, experts and public institutions. The shared goal is inclusive green growth at scale and at speed.
The 3GF partner countries at the opening ceremony of 3GF 2013 in Copenhagen, Denmark. From left to right: H.E. Helle Thorning-Schmidt, Prime Minister, Denmark; H.E. Hong-won Chung, Prime Minister, Republic of Korea; H.E. Liu Qi, Vice Minister for National Energy Administration (NEA), China; H.E. Ahmad Bin Amar Bin Mohammed Al-Hemaidi, Minister of Environment, Qatar; H.E. Judi Wakhungu, Minister of Environment, Water and Natural Resources, Kenya; and H.E. Cuauhtémoc Ochoa Fernandéz, Vice Minister of Environmental Regulation and Promotion, Mexico.
The Value of Going Green
Greening the global economy is both an imperative and an economic opportunity for businesses and nations. This industrial transition holds incredible potential for spurring global economic growth.
Studies on green growth opportunities from the OECD, UNEP and the World Bank conclude that the economic opportunity in ‘going green’ is worth several trillion dollars between now and 2030. The development of innovative, sustainable growth models will be our single greatest challenge in the 21st century.