S. Korea officially launches int'l body for green growth

27/10/2012

SEOUL, Oct. 18 (Yonhap) -- South Korea officially launched an international organization Thursday to promote strategies for environment-friendly economic growth drivers.

The agreement to establish the Global Green Growth Institute (GGGI) took effect that day, upgrading the Seoul-based think tank set up in 2010 to an international entity, according to its Secretariat.

On Sept. 18, the Pacific island nation of Kiribati became the third country to approve its conversion, following the ratification by Denmark and Guyana, the Secretariat said. International law stipulates that at least three countries must ratify a treaty for such a transformation, and the agreement takes effect 30 days after the third ratification.

So far, four countries, including the Philippines, have ratified the treaty, with 18 countries signing it, the Secretariat added.

With aims to spread green growth models as alternative development strategies and to support emerging countries' eco-friendly growth, the GGGI plans to devise "tailor-made" plans for each country and region, its Secretariat said, adding it is now working on 24 such projects in 17 countries, including Indonesia, Cambodia and Brazil.

"Green growth is the agenda that responds to both continuous development and climate change, the key issues drawing high interest from developing countries," said Shin Boo-nam, Seoul's Green Growth Ambassador. "The GGGI is also expected to contribute to solidifying South Korea's status as a leader in this future-oriented issue."

The inaugural meetings of the Assembly and the Council will be held next week, with some 300 officials from 18 member countries in attendance, the Secretariat said.

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