The Republic of Korea joined P4G as a country partner in 2017 and launched its National Platform in 2018. In 2022, the Republic of Korea and the World Resources institute signed a Memorandum of Understanding that pledged $4 million in funding for P4G to help developing countries' responses to climate change.
Korea has fostered a strong green growth alliance with Denmark, including as a leader in P4G’s predecessor, the Global Green Growth Forum, and is building on that progress through P4G. Noting its demonstrated success and continued commitment to sustainable development, the Republic of Korea facilitates cooperation and knowledge sharing with P4G partner countries.
In collaboration with P4G, the Republic of Korea supports the curation of new partnerships that align with its development priorities and supports the implementation of these solutions. It advances P4G partnerships including those focused on the zero emissions shipping and agricultural economic growth. The Ministry of Foreign Affairs, working with business leaders, government and sustainability professionals from across the country, will help identify and accelerate partnerships in developing countries that offer innovative sustainability solutions.
The Republic of Korea’s leadership during COVID-19 and its introduction of the Korean New Deal is an inspiring example for P4G partnerships. This deal outlines a clear agenda that prioritizes a green recovery aligned with long-term climate goals. The proposed plan comprising a Green New Deal and Digital New Deal includes an investment agenda of US $ 135 billion in green and digital technology. The Green New Deal calls for the expansions of solar panels, investments in microgrid communities, zero emissions vehicles and circular economy practices.
The Republic of Korea hosted the 2021 P4G Seoul Summit on May 30 – 31, 2021. The Summit gathered 67 world leaders and heads of international organizations in uniting for bold climate action to meet international commitments. The Seoul Declaration adopted at the Summit highlighted the role of public-private partnerships in driving a net zero future. It emphasized the importance of green recovery from the pandemic as well as scaling investments in market-based solutions and a carbon neutral transition in developing countries. A stepping stone to COP26, the Summit mainstreamed P4G as a delivery mechanism for climate action and showcased how P4G partnerships are accelerating green investment and innovative solutions centered on developing countries’ priorities.
Population 51.6 million
Country Priorities and Plans:Climate Policy
We were able to reaffirm that we are united as one in our commitment. The public-private partnerships enhanced through this Summit will lead to a successful COP26 coming in November, which I say with confidence. Moreover, leaders concurred that the UN-led initiatives for responding to climate change and achieving SDGs have been complemented by P4G.