Second P4G Summit opens in Republic of Korea

Seoul (VNA) - The second Partnering for Green Growth and the Global Goals 2030 (P4G) Summit opened in Seoul, the Republic of Korea (RoK), on May 30 with the participation of more than 60 leaders of nations and international organisations.

The two-day event, which is held virtually due to the COVID-19 pandemic, will include a leaders’ discussion with the participation of many leaders, including Korean President Moon Jae-in, Vietnamese Prime Minister Pham Minh Chinh, Chinese Premier Li Keqiang, British Prime Minister Boris Johnson, French President Emmanuel Macron, and German Chancellor Angela Merkel.

A general discussion will draw the attendance of 170 officials, representatives from international organisations, businesses, civil organisations, and scholars. UN Secretary-General Antonio Guterres and OECD Secretary-General Angel Gurria are also among the participants.

Speaking at the opening ceremony, President Moon Jae-in announced Seoul's plans to expand support for developing nations, including a significant increase by 2025 in its official development assistance (ODA) associated with climate and green projects.

Moon also made public the RoK's bid to host the 28th United Nations Climate Change Conference of the Parties (COP28) in 2023.

He reaffirmed the country's commitment to further raise its carbon emission reduction target as part of efforts achieve the goal of going carbon neutral by 2050 and to halt official financial support for construction of new overseas coal-fired power plants.

The RoK will play a responsible role as a bridging nation between developing and advanced countries, going forward as well, the President stated.

In the second day of the event, Moon will chair a leaders’ discussion on carbon neutrality and green growth. Participants are expected to adopt a Seoul statement in the closing session.

P4G was formed in 2017 as an initiative of Denmark. So far, it has 12 members and the engagement of more than 90 countries, international organisations as well as businesses across the globe.

P4G is a global platform pioneering green partnerships and providing market-based solutions in developing countries. It mobilises a global ecosystem consisted of countries, organisations, corporations and civil societies committed to make a progress in delivering the UN Sustainable Development Goals (SDGs) and the Paris Agreement.

P4G directly contributes to the development of national climate agendas, global campaigns, and coalitions with a focus on finding market-based solutions, mobilising the private sector and institutional finance to deliver sustainable economic growth.

As a steppingstone to COP26, the P4G Summit will provide a momentous opportunity for participating countries to raise their ambitions, share cutting-edge solutions and build ideas that can bring the net zero vision closer to realization.

The P4G Summit 2021 is considered an important event as climate change response and green recovery has become a top priority of many countries. It is expected to promote determination and commitments of the international community and prepare for the COP 26 which is slated for November this year.

P4G aims to deliver solutions and impacts in five thematic areas: Water, Energy, Food and Agriculture, Circular Economy and Cities.

Vietnam is one of the seven founding member of P4G./.