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"There is going to be no transition without people.”  

With this statement, Shameela Soobramoney, CEO of the National Business Initiative in South Africa set the stage for a conversation focused on people and the environment.  

The high-level panel on “Partnerships for a Just Transition” at the 2023 P4G Colombia Summit saw speakers from business and multilateral institutions share solutions for people-centric transitions while also urging the audience to consider unexpected consequences.  

Soobramoney shared the country’s challenges with making sure its transition from coal provides opportunities for social inclusion and gender equity. With 60% unemployment in South Africa contributing to social unrest, the country cannot think about transition without focusing on jobs. That’s why as South Africa prepared its updated nationally determined contributions for COP26, a coalition of businesses participated in a fact-based study that charted a pathway that makes the transition not only possible, but also jobs-positive if done in the right way. By participating in this process, businesses demonstrated that they were on board, paving the way for government policies that could facilitate the transition.

Andres Rebolledo, Executive Secretary for the Latin America Energy Organization (OLADE), highlighted his organization’s work with countries across the region pursuing an energy transition. Currently, Latin America generates 30% of its energy with renewables, compared to 17% worldwide. With countries at different stages of the transition and with diverse energy resources, Latin America needs to look at alternative sources, such as green hydrogen to not just decarbonize the energy sector, but the whole economy.  

Bringing in the perspective of a multilateral development bank, Marianna Alfonso, Lead Specialist for Climate Change and Sustainable Development Department at the Inter-American Development Bank (IDB) shared IDB’s framework for a just transition that benefits people. Its approach focuses on five areas: employment and skills development, impact on spaces, communities, fiscal policies and the political economy overall. She noted that technological solutions exist, but partnerships and coordinated work are essential to make sure they’re implemented effectively.  

Alfonso also emphasized that we need to be realistic about how decarbonization can affect government revenues that pay for social services. For example, we need to anticipate changes in energy prices and how these prices will affect low-income households to make sure it doesn’t disproportionately burden their basic necessities. “These are not small challenges,” she said.

The session was moderated by Adriana Lobo, Managing Director, Global Presence and National Action at World Resources Institute who framed the challenge we have as humanity to support a sustainable transition. Speakers highlighted the value of P4G’s approach, noting that it enables the transition with action that is already happening – it just needs to rapidly scale.  

They also discussed the opportunity to learn from others at the Summit and use them to leapfrog solutions in their own country. For example, Soobramoney highlighted how Bogota’s efforts to help women earn good quality jobs by leading the electric bus transition could be a useful model in South Africa. Meanwhile, Alfonso shared IDB’s work with the government of Ecuador developing hybrid trainings for workers to build green skills, starting in the water and agriculture sectors, so they can refine and replicate these kinds of skill development courses across sectors and regions.

More than anything, speakers emphasized that the just transition requires urgent, rapid action. 

As Soobramoney put it, “The climate is not going to wait for you to have the right conversation.” 

About

From May 24-29, the Republic of Korea led a series of dynamic discussions as part of Green Future Week to share its innovative technology to scale investment. Kicking off the Opening Ceremony, Chung Eui-yong, Minister of Foreign Affairs, Republic of Korea, defined the themes of inclusivity and bringing together diverse stakeholders as a key focus of the week and where P4G contributes great value through its impactful partnerships on the ground. The sessions underscored the need to build back better and greener as the world continues pursues an equitable recovery from the COVID-19 pandemic.  

At the “Green New Deal: Clean Transition to the Green Economy” session, the discussion centered around climate finance as key to achieving national ambitions of net neutrality by 2050 and the urgency of unlocking more private capital. This is where P4G was noted as adding global value by demonstrating a model to increase private investment. The session built on Korea’s announcements that it will invest 3.8 percent of its GDP in Green New Deal projects including green infrastructure, renewable energy and green mobility.  

Several sessions, including the “Actions of Local Governments towards Carbon Neutrality” breakout, highlighted the importance of tailoring local and regional measures on climate, especially in terms of creating jobs and providing financial incentives. The focus on financing echoed throughout the week as necessary to scaling solutions across areas. In “Hope for the Future, ‘Biodiversity Restoration,’” the discussion emphasized nature-based solutions as a crucial area where financial sector leadership can capitalize on momentum for mainstreaming targeted policies and investments to scale and accelerate regeneration.    

The “Business Paradigm Shift in the Era of ESG & Green Tech” session emphasized that corporations are an integral part of the race to net zero. Their transition will be driven by leadership that prioritizes medium- and long-term investments rather than short term profits through new technologies, increased efficiencies and other innovations. Speakers noted the importance of communication and collaboration delivered through initiatives like P4G. Chey Tae-won, Chairman of SK Group and incoming Chief of the Korean Chamber of Commerce and Industry noted, "I sincerely hope that the P4G, a global platform participated in by different stakeholders will play a decisive role in forming a strong collaboration at a global level."  

Throughout the week, P4G partnerships were featured as examples of multi-country collaboration for innovative market-based solutions. The “Building Back Bluer Through Ocean” session emphasized the need to decarbonize shipping through P4G’s Getting to Zero Coalition partnership, which urged key stakeholders to bridge the competitiveness gap between carbon-based fuels and zero-carbon energy sources to unlock opportunities for developing countries. In “Forests for Global Net-Zero and Peace,” P4G’s Agroforestry for People, Peace and Prosperity partnership served as an example of partnering to restore the forest ecosystem and generate sustainable income for local residents amidst the challenges posed by COVID-19. 

The “Green Technology: Path Finder for Carbon-Neutral Society” session emphasized Korea's commitment to investing in green technology and cooperating with other countries for climate technology development. Private sector leaders discussed strategies to take a whole supply chain approach to going carbon neutral, including through exploring viable strategies for scaling technologies such as green hydrogen, artificial intelligence, and bio-based resources. P4G was hailed as a valuable platform in delivering inclusive partnerships, and Mark Radka, Acting Director of the UN Environment Programme shared P4G’s role as a “fellow traveler in forward-looking, altruistic implementation.” 

At one of the final sessions, "The Role of Finance: Fostering Green Recovery in the Post COVID-19 Era” the discussion focused on mobilizing investment in green technologies and infrastructure needed for the global low-carbon transition. Keynote speakers, including Makhtar Diop, Managing Director at the International Finance Corporation, shared the critical role public-private partnerships will play in the transition to carbon neutrality, especially in the leadup to COP26.  

"Partnerships between the public and private sector are key to unlocking clean energy future. Organizations like P4G and efforts like these are key to making that future a reality,” said Diop.  

Access recordings of all of the Green Future Week sessions here.

About

The opportunity for developing countries to leapfrog to zero emissions was a central theme of the 2021 P4G Seoul Summit Session “Partnership for Smart and Resilient Green Cities.”

Nigel Topping, High Level Champion for Climate Action, COP26, kicked off the discussion with his keynote that underscored the urgency of going from targets to plans to actions. He emphasized the need for innovative and practical partnerships with accessible solutions and mentioned the role of P4G “as a crucial platform for pursuing those kinds of solutions in developing economies that will help us in the lead up and beyond COP26.” Topping, who launched the Race to Zero Campaign in June 2020, shared how P4G’s work complements the campaign’s goals of galvanizing ambitious climate action among cities, regions, businesses and investors – all of whom are expected to declare concrete plans of halving their emissions by 2030.

Sharing the impact of the built environment on emissions and an approach to decarbonization was Cristina Gamboa, CEO, World Green Building Council. Through the work of the Green Building Council, multiple cities in Latin America have enacted key energy efficiency policies to make new builds net zero. Gamboa noted the uptick of cities interested in energy efficient buildings and the role of partnerships in sharing best practices that could speed the process. Since residential structures comprise 70% of new builds, Gamboa highlighted the need to include housing in net zero building policies as well.

Daniel Gomez, Deputy Minister for National Planning, Colombia, rounded out the keynote speeches by sharing Colombia’s commitment to achieving its ambitious Nationally Determined Contributions (NDCs). He called out a few guiding pillars that informed its strategy for a sustainable and resilient economic recovery – infrastructure and sustainable cities, bio-economy, and nature-based solutions. Gomez also mentioned the urban mobility priorities of Colombia - a sector in which P4G works closely with Colombia, accelerating numerous zero emissions transportation partnerships. He wrapped by sharing Colombia’s excitement about hosting the P4G Summit in 2023.

Session moderator, Leila Yim Surrat, Director of Strategy & Engagement at P4G, led the session into a discussion where she asked all panelists to share the innovative solutions they are working on and how P4G could help scale their vision.

Monica Araya, Special Adviser to COP26 Climate Champion Nigel Topping stressed the importance of a clear vision on the end goal of net zero and the need to get there fast. As she pointed out about the Race to Zero, “it’s a race, we’re not walking.” She spoke about smart financing being integral to e-mobility breakthroughs and combining enabling policies with suppliers who commit to producing e-buses and investors who provide the capital. She called on P4G to engage local banking sectors in its partner countries, so financing did not flow to high carbon projects. Ultimately, she said, this is a story of people – drivers, children and people w in the city whose lives will change for the better with these solutions.

Bryan Wisk, Chief Investment Officer, Asymmetric Return Capital (ARC) shared the approach of using finance to come up with a model that has been applied to other asset classes to consolidate the technological risk, lower the cost, and increase the bankability of these solutions. This increases the probability of attracting international capital and standardizing these models. He noted that P4G is instrumental in ensuring that these models get driven nationally with close buy-in at the local and regional levels.

Continuing the e-mobility conversation, Dennis Awori, Chairman, Toyota Kenya, shared Toyota’s goal of getting to net zero in operations and products that complemented Kenya’s commitment to climate action. With the transport sector contributing to 13 – 17% of emissions in Kenya, using e-mobility for public transport and goods movement enables the country to leapfrog from conventional mobility to sustainable alternatives. He shared how Toyota was focusing on 2-3 wheelers, before moving to 4-wheelers and buses and the opportunities this would lead to developing a new industry and expanding an existing one. He urged P4G to continue its work of bringing together different stakeholders from government, private sector and civil society to forge and develop the implementation of net zero plans.

Lars Tveen, President, Developing Regions, Danfoss, picked up the thread started by Cristina Gamboa on the need for energy efficiency in buildings. Buildings are responsible for nearly 40% of direct and indirect CO2 emissions and Danfoss is focused on saving energy and turning energy green. Tveen shared that green and financially attractive propositions can work together, providing an example of a 20-story building in Kuala Lumpur retrofitted with a new cooling system that resulted in 60 – 70% of energy efficiency with a payback time of two years. He spoke of P4G’s role in articulating these solutions and delivering progress at speed. “Energy efficiency is the best job creator,” he said as he highlighted the opportunity for developing countries to be at the forefront of bringing down CO2 emissions in the built environment.

Yim Surratt closed with inspiring remarks that got to the core of the need for sustainable cities – the impact on people as they live, breathe, commute and work in cities. She painted an exciting picture of the way everyone’s lives could be transformed in the next decade through clean vehicles and buildings.

Watch the full session recording here.

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“We are nurturing the future triggers of change that can actually transform a society,” said Pia Yasuko Rask, SafeWater Senior Director at Grundfos, in her keynote remarks for the P4G Summit Thematic Session on “Carbon-neutral Smart Water Management for Climate Resilience.”

Speakers at the session emphasized the collaboration needed to overcome challenges to deliver safe water and sanitation access. Moderated by Kalanithy Vairavamoorthy, Executive Director of the International Water Association, the session highlighted the real opportunity for innovation that lies in in the developing world because there is not the legacy water infrastructure as in the rest of the world.

Opening the session, State Minister Shahriar Alam of Bangladesh’s Ministry of Foreign Affairs shared the climate change challenges faced by Bangladesh. In response, the country has created a climate trust fund dedicated to climate adaptation and resilience. Minister Alam underscored the value of P4G’s partnerships in Bangladesh, including Clean Water for All, to recognize the multidimensionality of water infrastructure and access.

Rask focused her remarks on the need for bold change to make the business case for water access. Rask shared Grundfos’ launch of a business to mainstream their products and services to the most vulnerable populations in the developing world. To build the bridge from aid to trade and from grant to growth, Rask emphasized the value of P4G in providing the space to collaborate and innovate to explore what is commercially viable.

Karin Finkelston, Vice President of Partnerships, Communication, and Outreach at the International Finance Corporation, shared the transformational impact delivering safe water will have and the need for innovative, market-driven, and long-term solutions to ensure that access. This means bringing in the private sector through key partnerships. Finkelston noted that the alignment and coordination with P4G and others proves essential in scaling up collaboration and finding proactive solutions to these challenges.

The panel session brought together speakers from P4G partnerships to identify and advance innovative water enterprises providing proven solutions on the ground and scaling up the finance needed to accelerate these solutions. Panelists were asked to share how their solutions unlock investment for transformative change and what specific gaps in the investor marketplace their solutions seek to address.

Vedika Bhandarkar, Chief Global Impact Officer of Water.org shared their work with financial institutions for technical and capacity building help to make loans to households at the base of the economic pyramid. Sharing several examples, Bhandarkar noted that these partnerships with financial institutions have enabled 36 million people to get access to clean water and sanitation. Yet, these efforts need to continue to replicate and scale. For Bhandarkar, this is where P4G can shine a light on investment, help models expand, and bring in other investment managers to meet the great need.

Building on Bhandarkar’s comments, Josien Sluijs, Managing Director of Aqua for All shared the transformative impact of access to capital because public funding available is vastly insufficient to meet the need. This is why organizations like Aqua for All and Water.org can collaborate with P4G to strengthen enterprises and create a pipeline for investors in the water sector. Sluijs also spoke about the intersectional nature of water sector solutions, such as partnerships to prevent garment industry pollution in local water supply.

Valentin Post, CEO of FINISH Mondial, shared the need to bring in finance for local entrepreneurs to start constructing and building in a way that will ultimately institutionalize solutions. FINISH Mondial has taken this approach through sanitation training in Kenya to scale and mainstream solutions. Post stressed that there is a clear case for investment, and P4G is well suited to accelerate that.

Bringing in the local perspective, Robert Bunyi, CEO of Kenya Pooled Water Fund shared his organization’s work to fill the gap between government and private funding by securing local capital to achieve Kenya’s goal of universal water access. Bunyi explained how the Fund sells long-term bonds on the market to give local companies the unique ability to directly invest in themselves. “When you give this kind of power to the water companies, we end up with local decision making, local solutions, and therefore that’s where the sustainability starts,” Bunyi said.

Closing the session, P4G’s Director of Partnerships Robyn McGuckin reflected on the innovative solutions that present a clear path forward for achieving clean, safe water access for all. P4G hopes to continue scaling and accelerating the kind of partnerships needed to drive a just transition.

Watch the session recording here.

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Enhancing Food Security through Sustainable Food Partnership

As a side event to the 2021 P4G Seoul Summit, the Sustainable Food Partnership (SFP) event on May 28 included an engaged dialogue between the CEOs driving the collaborative and innovative model. The partnership aims to manufacture nutritious and affordable biscuits in Ethiopia with locally sourced ingredients and enhance food security for women and children in the country. Fekadu Beyene, Commissioner of Ethiopia’s Forest and Climate Change Commission opened the discussion by sharing how the partnership could address childhood malnutrition in the country and is taking a market-based approach to food security – a priority issue for Ethiopia.

Ian de Cruz, Global Director, P4G moderated a panel discussion in which CEOs representing each partner in the model shared how the partnership was critical to their growth strategy. Samuel Zemui, CEO, Moya Foods Complex noted how a partnership like SFP that involves local smallholder farmers while enriching the nutritious value of the Ethiopian diet could be eye-opening to a lot of businesses. It also opens the doors for the development of other innovative products that Moya and others could consider in the future. Ester Baiget, CEO, Novozymes shared how a partnership like this is “not only the right thing to do, it’s also a good solid business case.” By bringing science to a sustainable and competitive product in the Ethiopian market, Novozymes could expand this model to other countries and products in Africa.

Henrik Andersen, CEO, Arla Food Ingredients, spoke about value of building a model whose impact could be long-lasting while also enabling its learning to be applied in other places in the African continent. Birgitte Qvist-Sørensen, General Secretary, DanChurchAid, brought in the civil society perspective by sharing how SFP presents a disruptive model that can be replicated and expanded to provide a nutritional resource for refugee camps. The CEOs also got a chance to sample a prototype of the biscuit, which Qvist-Sørensen described as “delicious, crisp and sweet.”

Tomas Anker Christensen, Climate Ambassador, Ministry of Foreign Affairs, Denmark, closed the event with a call for strong partnership models like SFP that rise to the challenge of tackling food security – a growing issue during the COVID-19 and climate crises. He shared Denmark’s priority of strengthening climate agriculture and spoke about SFP being a hallmark P4G partnership that produces tangible results.

E-mobility Strategies to Scale Zero Emissions Transportation

Net zero is not achievable without a transition in the transportation sector. To accelerate the adoption of e-mobility vehicles it’s critical to overcome challenges such as adequate funding, infrastructure issues and finding ways to replicate successful models. These were some of the issues discussed at a May 28 P4G Seoul Summit side-event on e-mobility hosted by the Global Green Growth Institute, the Ministry of Foreign Affairs of the Republic of Korea and P4G.

Sarbinder Singh, Director of Investments, P4G spoke about the platform’s approach of integrating its e-mobility theme within its larger electric transition strategy. He spoke about the need to link renewable energy solutions with the utility sector and pilot initiatives to ensure stakeholders get familiar with the solutions and risks. The event, which included representatives from governments, businesses, financial institutions and partnerships took an in-depth look at the lessons learned from Norway to Latin America and the different approaches being trialed to accelerate the transition in different parts of the world.

Watch the full recording here.

Catalyzing Investors to Accelerate the Transition to Net Zero

The Asian Investor Group on Climate Change (AIGCC) hosted a forum on May 31 to offer insights into the current actions by investors and ones they can take in the future to address climate change risk and the business opportunities afforded by this approach.

Nigel Topping, High Level Champion for Climate Action, COP26, opened the discussion by sharing the launch of the Glasgow Financial Alliance for Net Zero (GFANZ) that brings together over 160 firms across the financial system to accelerate the transition to net zero by 2050.

Rebecca Mikula-Wright, Executive Director, AIGCC, moderated the discussion and opened by asking panelists about their strategy for accelerating the shift to net zero.

Jon Johnsen, CEO, PKA (a Danish pension fund) shared how the fund now invests10% of its asset base in green investments and that a strong green portfolio acts as a stabilizer and a risk mitigation strategy. Akira Sugano, CEO, Asset Management One, mentioned how his company focused on areas where they have the most leverage which is currently Japanese companies. He spoke about using a science-based approach to set their targets for the percentage of assets that align with the goals of the Paris Agreement. Sandra Boss, Global Head of Investment Stewardship, Blackrock, noted the company’s intensified focus on sustainability and its extensive engagement with its clients asking carbon-intensive companies to have a net zero aligned business plan. Boss also shared Blackrock’s strategy of measuring and managing sustainability risk.

Ian de Cruz, Global Director, P4G, emphasized the business opportunity provided by developing countries and challenged investors to invest in solutions that progress the net zero agenda. While highlighting the Republic of Korea’s commitment to end overseas coal financing, he suggested the next step be the reallocation of that capital domestically and globally.

Watch the full recording here.

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Role of public-private partnerships in progressing net zero commitments brought to forefront

SEOUL (June 1, 2021) — 67 world leaders and heads of international organizations united for climate action at the 2021 P4G Seoul Summit on May 30 and 31, calling for concrete action to meet ambitious climate commitments. More than 200 high level officials including policymakers, CEOs, representatives of international organizations and civil societies participated at Green Future Week sessions and Thematic sessions from May 24 to May 31. 

The P4G Summit was the first multilateral environmental event hosted by the Republic of Korea at a Summit level. Participating world leaders including Emmanuel Macron (President of France), Boris Johnson (Prime Minister of the United Kingdom), Li Keqiang (Premier of China), Sheikh Hasina (Prime Minister of Bangladesh) and Sahle-Work Zewde (President of Ethiopia) delivered a clear and consistent message. Bold commitments need to be followed by concrete action, and climate finance commitments need to be honored so developing countries can get access to inclusive finance to reach their climate action targets. John Kerry, United States Special Presidential Envoy for Climate, emphasized the need for countries to raise their 2030 target ambitions. He spoke about platforms like Partnering for Green Growth and Global Goals 2030 (P4G) and public-private partnerships as crucial to building sustainable and resilient communities. Leaders also drew out the correlation between green growth and job growth. 

President Moon Jae-in announced the Republic of Korea’s intention to present its enhanced Nationally Determined Contributions for 2030 by the UN Climate Change Conference of the Parties COP26. He shared the commitment of the Korean National Pension Service – the world’s third largest pension fund – to decarbonize. He also announced a plan to increase Green official development assistance funding (ODA) including support to the Global Green Growth Institute and P4G.

"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," said Moon Jae-in, President of the Republic of Korea.

Positioned as a stepping stone to COP26 in November this year, the Summit highlighted the importance of multistakeholder partnerships for unlocking a clean future. 

"If we want to fight climate change, we have to work together. Governments, industries, citizens. Across the globe. That is what we hope to pass on through P4G: Climate action brought about by the right political decisions and strong partnerships. Between our countries. And between sectors," said Mette Frederiksen, Prime Minister of Denmark. 

"The next few years will be crucial. Here I see P4G as a key delivery mechanism. It will help us follow through on our commitments to the Paris Agreement and the SDGs, including beyond COP26," said Mark Rutte, Prime Minister of the Netherlands. 

Iván Duque, President of Colombia, announced the country’s commitment to reduce 51% of emissions by 2030 through its energy transition strategy including "making a big bet on electric vehicles." He also announced that Colombia would host the next P4G Summit in 2023. 

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 green transition.

The Summit showcased P4G as a delivery mechanism that could turn political commitments into market-based solutions for developing countries that can be accelerated and scaled by private sector investment. It featured solutions led by innovative partnerships that could help developing countries leapfrog carbon-dependent infrastructure, accelerate a clean energy transition, and make progress on their increasingly ambitious climate goals.

"What makes P4G unique is that our partnerships put developing countries in the lead. Based on their national priorities, we match their climate solutions with global technology, investment and expertise. This partnership pipeline creates jobs and helps countries drive climate action," said Ian de Cruz, Global Director, P4G. 

A few examples of tangible and investable P4G solutions discussed at Summit sessions are included below: 

• Food: FLAWLESS is a partnership developing models to monetize the savings from food loss and waste reduction in Mexico, Indonesia and South Africa. It’s establishing innovative financial products that banks could offer companies who commit to taking measurable action on their food waste. 
• Water: The Finance for WASH Access Partnership is designing a multi-million dollar lending facility to improve water and sanitation solutions for retailers and households in Kenya. 
• Energy: Energise Africa is a crowdfunding platform that has raised more than $27 million from individual investors for solar businesses in sub-Saharan Africa. This allows small and medium solar businesses to raise the flexible finance needed to provide solar home and commercial systems on affordable payment plans.  
• Cities: P4G’s zero emissions transportation partnerships in Latin America such as the ZEBRA partnership are developing investment models to enable the commercial deployment of electric buses and freight across the region. 
• Circular Economy: The SSEZ/Sustainable Industrial Clusters Partnership is transforming industrial parks into green manufacturing circular hubs. The Oserian Two Lakes Industrial Park under development in Kenya has the potential to mobilize US $500 million investment in green infrastructure and create 10,000 local jobs. 

To speak with Ian de Cruz, Global Director of P4G or a P4G Partnership, please contact Sangeetha Sarma at Sangeetha.sarma@p4gpartnerships.org. 

Learn more about the 2021 P4G Seoul Summit: https://2021p4g-seoulsummit.kr

Learn more about P4G: https://p4gpartnerships.org/

About P4G – Pioneering Green Partnerships, Investing in Impact
P4G – Partnering for Green Growth and the Global Goals 2030 - is a global platform pioneering green partnerships to build sustainable and resilient economies. P4G bridges the gap between development and investment to deliver transformative solutions to meet the Sustainable Development Goals and the Paris Climate Agreement. P4G mobilizes a global ecosystem of 12 partner countries and 5 organizational partners to unlock opportunities for more than 50 partnerships working in developing countries in five SDG areas: food and agriculture, water, energy, cities and circular economy.

About

Low carbon renewable energy solutions with enormous growth potential exist and are being implemented in developing countries today. Through an enabling environment and investment, they can grow and replicate to deliver an energy transition that leaves no one behind.

On May 31,at the 2021 P4G Seoul Summit Thematic Session “A Greener Planet with Innovative Energy Solutions” speakers from the private sector, leaders of international organizations and P4G partnerships shared their visionary ideas backed by action - all in the pursuit of a more equitable and net zero future for all. Moderated by P4G Global Director Ian de Cruz, the session focused on existing solutions and tangible next steps to accelerate their growth.

Mads Nipper, CEO, Ørsted, opened the session with an inspirational keynote address on how the leading Danish energy company achieved its two targets of lowering offshore wind power prices and generating 85% of its energy from renewables by 2040 far ahead of time. This rapid transition was made possible by the enabling policies set by governments in Denmark, the Netherlands and the United Kingdom that gave Ørsted the safety net to make these long-term investments in low carbon solutions. Nipper urged the private sector to be catalysts for change and leverage platforms like P4G to accelerate the transformation required right now.

The next keynote speaker was Ana Hadjuka, CEO & Founder of Africa GreenCo, a P4G partnership that acts as a creditworthy buyer and seller of energy and reduces the risk of investing in renewable energy projects in Zambia. Hadjuka pointed out that while the electrification of Southern Africa offered great potential, it needed to be turned into a reality. She called the current piecemeal project-based funding approach to energy projects in Africa “a sticking plaster and not a cure.” She laid out GreenCo’s plans to mobilize billions of dollars by 2030 to create 4,000 jobs and power nearly six million homes. She concluded by reflecting on the shared vision between P4G and GreenCo, “we believe in the systems change that brings benefits to all actors in the energy space in Africa.”

Finally, Dan Jørgensen, Minister for Climate, Energy and Utilities, Denmark rounded out the keynote remarks by sharing Denmark’s long history of listening and cooperation. He announced the launch of a new report that tracks Denmark’s sustainable energy growth and called on participants to find ways to catalyze investments and accelerate innovation in an inclusive manner. He highlighted this as a defining hallmark of P4G.

De Cruz kicked off a panel discussion to focus on the specific solutions emerging in developing countries. He asked the panelists to share their investable solutions and how P4G could help scale that ambition.

Lisa Ashford, CEO, Ethex, spoke about Energise Africa’s role in bridging the financing gap to meet the Sustainable Development Goals by bringing in retail finance. The P4G partnership uses a crowdfunding platform to provide flexible and affordable capital to solar businesses across sub-Saharan Africa. This enables them to scale their businesses and in turn supply clean energy access for millions of people. The partnership aims to expand in other regions like Asia and sectors such as agro-tech, clean mobility and water. Ashford spoke about P4G’s role in helping Energise Africa access players that are not traditionally active in the crowdfunding space and allow them to open new markets to deliver impact. Ashford noted, “Solutions like Energise Africa potentially are limitless in their growth and highly replicable around the world.”

Saurabh Kumar, Executive Vice Chairperson of Energy Efficiency Services Limited (EESL) laid out their path to building a sustainable future for villages in India and ushering an energy transformation. This energy efficiency model starts with small solar installations in rural areas with accompanying battery storage units that can store energy for multiple purposes in the community. By bundling these into a power purchase agreement and offering it to a utility, the model becomes a sustainable one that could benefit millions in the country. He added that P4G not only gave models like his credibility but with its powerful global network could disseminate learnings that would allow developing countries to leapfrog into an energy transition.

Sharing the momentum created by Chile’s energy sector, Max Correa Achurra, Head of the Fuels and New Energies Division at the Ministry of Energy spoke about Chile’s ambitious commitment to reach carbon neutrality by 2050. He detailed the country’s vision of being one of the top three exporters of green hydrogen. Private sector investment plays a key role in achieving these goals and Correa shared how in a novel move, Chile allocated $50 million to support green hydrogen projects with around 40 projects already in the pipeline. He spoke about P4G’s network strength and ability to connect Chile with potential project developers to scale Chile’s energy transformation.

Nipper echoed the importance of green hydrogen for decarbonizing harder to abate sectors. In addition, he shared the need for policies to secure long-term investment so these innovations could become competitive products. He underscored the value of P4G in sharing best practices and forging partnerships between public and private entities to advances these innovations.

Dominic Waughray, Managing Director, World Economic Forum shared closing remarks and underscored the potential for P4G to link the examples heard at the session and transmit them from south to north.

“Partnership isn’t just one way traffic. There are two ways to this,” he said succinctly.

Waughray offered the influential political and private network of the World Economic Forum as a partner of P4G to scale these solutions. He closed the session with a sense of optimism from the innovative solutions taking shape across Africa, Latin America, Asia and Europe.

Watch the full session recording here.

About

At the 2021 P4G Seoul Summit Thematic Session on “Resilient and Sustainable Agriculture and Food Systems,” P4G network champions advanced strategies to strengthen food security through sustainable agriculture and reduce food loss and waste by accelerating innovative financial models. Moderated by Claire Kneller, Head of International Food Programme at Waste and Resources Action Programme (WRAP), the session highlighted the importance of scaling inclusive market-based solutions to transform food systems in developing countries.

Byeong-Am Choi, Minister of the Korea Forest Service delivered keynote remarks about the need to balance a sustainable and resilient agri-food system. Minister Choi highlighted the P4G Agroforestry for People, Peace and Prosperity partnership, which enables Ethiopian coffee farmers to restore degraded lands and export fair-trade products for the gourmet coffee market in Korea. The partnership hopes to replicate the business model to other major coffee producers in P4G’s ecosystem.

Bas Rüter, Director of Sustainability at Rabobank framed food loss and waste as an investment opportunity, sharing Rabobank’s approach through an SDG 12.3 loan, which provides a financial solution that rewards positive accomplishments and sanctions based on performance. Rüter noted that Rabobank would be joining the P4G FLAWLESS partnership, as they work together to set ambitious measurable targets and accelerate action on the ground. “By doing so, we hope to be able to actually speed up the development into food loss and waste reduction by creating market incentives to do the right thing,” Rüter said.

Providing insights on FLAWLESS’ implementation in South Africa, Bruno Olierhoek, Managing Director and Chairman for the East and Southern African Region at Nestle, underscored how reducing food loss and waste is a necessary stalwart against food insecurity in the country. Sharing the FLAWLESS model of voluntary agreements for corporations to measurably reduce food loss and waste, Olierhoek noted how support from the highest levels in South Africa’s government inspired the private sector to come on board, and now smaller, local independent players are also signing up, making the approach more holistic across the entire value chain. With support from platforms like P4G, Olierhoek highlighted the importance of mobilizing financial systems for a circular approach.

Daan Wensing, CEO of IDH – the Sustainable Trade Initiative, shared how IDH through the SourceUp online platform, links buyers and smallholder farmers. As part of P4G’s Sustainable Sourcing at Scale Partnership in India, the platform has the potential to scale in P4G partner countries, linking markets across the world and collectively creating financial incentives to the benefit of nature, people, and the economy.

Charlotte Sorensen, Senior Project Manager, Arla Foods Ingredients, introduced the P4G Sustainable Food Partnership, which uses protein from local crops to produce a more nutritious biscuit for Ethiopia. Sorensen noted the importance of approaching this project through reverse engineering, where the partnership started by identifying consumer needs and the price they’d be willing to pay before working together with local producers to develop these products. The partnership is redefining the nutrition biscuits consumed by school children and refugees, with the hope to scale in similar markets experiencing malnutrition and food insecurity.

Closing the session, Fekadu Beyene, Commissioner of Ethiopia’s Forest and Climate Change Commission, remarked on the innovative and inspiring business models presented that are aimed at building resilience. He noted the important takeaway that market-based solutions are a silver bullet to deliver climate action at speed and scale. “P4G's unique position of bringing on board private sector stakeholders and hands-on experience and engagement of leading global networks will bolster the transformative impacts,” said Beyene.

Watch the full session recording here.

About

The 2021 P4G Seoul Summit Thematic Session on “Circular Economy Measures towards a Zero Waste Society” featured an engaging discussion with key P4G champions advocating for innovative solutions to generate green growth. Moderated by Kevin Moss, Global Director, Center for Sustainable Business, World Resources Institute, this session emphasized the need to optimize the use of all resources and materials for a just, circular transition. 

Kicking off the keynote remarks, Faruque Hassan, President, Bangladesh Garment Manufacturers and Exporters Association highlighted the link between the need to build back better for a garment industry hit hard by COVID-19 and the opportunity to shift the fashion business model to a circular one. With Bangladesh’s prominent role in textile production, Hassan urged stakeholders to strengthen the local ecosystem for circularity, as Bangladesh’s garment industry seeks to close the loop for a just transition.  

Dr. Julius Muia, Principal Secretary, National Treasury and Planning, Kenya, emphasized Kenya’s priorities of green manufacturing where the government has collaborated with P4G to accelerate sustainable industrial clusters, making them feasible and profitable. Dr. Muia remarked that P4G has provided a proven roadmap model of implementation through sustainable clusters that will help Kenya achieve its climate ambitions while driving forward economic growth.  

Suharso Monoarfa, Minister of National Development and Planning, Indonesia, outlined his country’s commitment to circular economy as essential to meeting the sustainable development goals. Through Indonesia’s Vision 2045 and Green National Development plan, Indonesia has defined low-carbon and climate resilient development as a national priority while integrating circular economy strategy throughout the plans. “We are optimistic that with collaboration of all stakeholders, economic transformation through low-carbon development and circular economy can be a long-term solution for Indonesia,” Minister Monoarfa said. 

In the panel discussion, key changemakers shared their lessons learned from implementing circular economy business models, as well as what P4G can do to further scale their agendas. Amy Jadesimi, CEO, Lagos Deep Offshore Logistics Base, introduced her work with the P4G Partnership, SSEZ/Sustainable Industrial Clusters, which transformed LADOL Free Zone from a disused area into a fully integrated logistics space. “The industrialization of Africa using the blueprint that’s been created by LADOL in partnership with P4G that creates special economic zones that are industrial and sustainable is possible, it is profitable, and it is the preferable way to industrialize across the entire continent,” remarked Jadesimi.  

Building on Faruque Hassan’s keynote remarks about Bangladesh’s sustainable fashion transition, Morten Lehmann, Chief Sustainability Officer, Global Fashion Agenda, framed the business opportunity to turn waste turned into a new valuable resource and attract investment for commercial sustainability. Through partnerships such as P4G’s Circular Fashion Partnership, Lehmann noted the value of engaging all stakeholders to ensure equity and inclusion.  

Highlighting the role of plastics in the circular economy, Christophe Maquet, Senior Executive Vice President, Veolia Asia, presented the 3RI Partnership with P4G as a pioneering initiative that creates a market-based mechanism through plastic credit financing. This method urges the private sector to take action to reduce total plastic use throughout the value chain in a transparent and socially inclusive way.  

Ayaan Zeinab Adam, Senior Director, Africa Finance Corporation, emphasized the need for local infrastructure development in Africa, especially in power, transport and logistics. Adam highlighted the need to work with platforms like P4G to mobilize institutional capital to translate development efforts into real projects that are financeable and bankable. This will enable African companies to build resilient infrastructure that is affordable, can attract capital, and offset climate costs.  

The diverse group of panelists working on sustainable industrialization, circular fashion, and plastics recycling all emphasized the value of P4G in bringing together international cooperation for local implementation.  

Stephan Sicars, Managing Director, Directorate of Environment and Energy, UN Industrial Development Organization closed the session by reiterating the business case for circular economy solutions, whereby stakeholders must adopt a whole of society and inclusive approach, facilitate partnerships, and ensure policy coordination. He summed up the discussion by validating the importance of innovative zero waste partnerships in testing and implementing viable circular economy models that could deliver a just transition. 

Watch the full session recording here.