14 countries to sign treaty in Brazil next week; inaugural meeting set for October


The Global Green Growth Institute created by the Korean government is set to transform into an international organization in October, Seoul officials said Thursday.

Fourteen countries are scheduled to sign a treaty for the status change at the U.N. Conference on Sustainable Development in Rio de Janeiro on June 20-22. They plan to hold the inaugural meeting in October here.

The Seoul-based think tank was launched in 2010 to help countries share their experiences and technological know-how for environment-friendly development.

Among the 14 members are Seoul and seven other donors ― the U.K, Australia, Denmark, Norway, Mexico, the UAE and Qatar. They will contribute $15 million over the next three years and map out and help implement development frameworks for recipient countries including Ethiopia, Vietnam, the Philippines, Papua New Guinea, Costa Rica and Cambodia.

“The treaty is aimed at securing more funds, mid- and long-term strategies and top-notch human resources to cope with an increasing number of emerging economies looking for the GGGI’s help,” a senior government official told journalists on condition of anonymity.

The GGGI is a showpiece of President Lee Myung-bak, who unveiled his “low-carbon, green growth” initiative in 2008 to stimulate the economy and create jobs through investment in eco-friendly technologies and industries.

With an additional 10 currently seeking advice from the institute, the number of its members is likely to top 20 in the coming few years, the official said.

The organization is expected to remain independent and headquartered in Seoul with regional offices in Copenhagen, Abu Dhabi and London. It plans to expand its workforce from the current 60 to 160 by 2014, about 100 of whom will be Korean. Biennial general meetings will take place here or elsewhere on a rotational basis.

To boost investment efficiency and innovation, the GGGI will also invite companies and allot five seats to them on its 17-member board, the official noted.

Through the transformation, the think tank aims to make a global public-private partnership platform where developing countries access a greater pool of assistance and investment while reserving efficiency and ecosystem dynamics, said GGGI executive director Richard Samans.

“Out of that practical experience, we can learn from each other, and with our help and through collective experience, everyone ― North, South, East and West ― can learn how to generate economic growth and make social progress,” he told The Korea Herald in a recent interview.

By Shin Hyon-hee (heeshin@heraldcorp.com)