New climate alliance ‘Partnering for Green Growth and the Global Goals 2030’ launched in New York
The Denmark-inspired ‘Partnering for Green Growth and the Global Goals 2030’ (P4G), a new global climate alliance aiming to become a new engine to drive green growth, was launched on Wednesday in the UN Headquarters.
P4G aims to create a space for innovative partnerships between businesses, leaders from the governmental and local authorities, financial actors and representatives from the civil society.
The core aspirations of the new alliance are to develop powerful solutions that contribute towards the UN Sustainable Development Goals (SDGs) and Paris Agreement.
Lars Løkke Rasmussen, Prime Minister of Denmark said: “To accelerate progress and deliver concrete results on the SDGs, it is paramount that governments and cities join hands with the private sector through innovative public-private partnerships.”
“Sustainable development is a universal task that requires action from all of us in concert”.
Michelle Bachelet, President of Chile commented: “Achieving the ambitious goals outlined in the UN Sustainable Development Goals can only be possible by working together at scale - globally, regionally, and nationally - and jointly between the public and private sectors”.
According to the official press release, countries that have signed on the lead P4G include Chile, Denmark, Ethiopia, Kenya, Korea, Mexico and Vietnam.
The alliance will make use of the available knowledge to identify and scale up tangible solutions that will promote new models of economic development.
According to the Business and Sustainable Development, moving towards this pathway could create at least $12 trillion in some sectors alone.
It could also create 380 million jobs by 2030, with almost 90 percent of which located in developing countries fostering economic growths to the countries that mostly need it.
P4G will comprise three pivotal elements to achieve its goals, - partnerships, summits and knowledge through rigorous evidence and accountability.
Partners will engage with sub-national, national and international leaders to offer technical support and financial assistance to facilitate the transformation process.
The Danish Government will provide $4 million each year for financial support to incubate and scale strategies of P4G partnerships.
It is expected that more funds will collaborate will the alliance, such as the SDG Investment Fund that will be established in January 2018 by the Danish Government and ensure at least $5 billion in total investments.
Some examples of the types of partnership P4G will aim to support are the ones addressing topics such as livable cities through increasing demand of sustainable and affordable housing solutions, health-related initiatives and the promotion of circular economy initiatives, water leakages management et al.
Andrew Steer, President and CEO of World Resources Institute said: “It is profoundly encouraging to see this group of leading nations and companies driving forward new economic models that will benefit the economy, citizens and the environment”.
“P4G can be a catalyst for dynamic collaborations that will speed, scale and track this progress toward a more inclusive and robust form of global development”.
Read more on the new global alliance here