DIPLOMAT MAYJUNE 2021 WEB READY - Magazine - Page 23
P4G SEOUL SUMMIT PRE-EVENT 23
bundling solutions often arise on a country-by-country basis
to assemble a syndicate of investors which can overcome this
issue, Sir Roger highlighted the important role of national
development banks in identifying and supporting individual
projects in need of investment. This is perhaps where P4G
offers greatest value, reflected Rt Hon Stephen Dorrell,
Chair of Public Policy Projects. Where governments are
unable to provide the linkage between investors and projects
in-situ, a collaboration of international actors is needed.
So, what next?
The discussion made clear the need for governments to
open up opportunities for investors to support smaller green
projects across the world. There is no trade-off between
achieving Sustainable Development Goal objectives and
climate change objectives.
With no shortage of money in the investment and
development community, there remains a lack of funding
upstream in innovative new business and project models
that are driving change. “There is a need for investment and
delivery mechanisms to co-create solutions from the start,”
concluded Mr De Cruz. While P4G is one such vehicle, all
initiatives require a funding framework to convert plans into
action, which supports higher-risk strategies with reliable
Mr Christensen concluded by calling for international
stakeholders to “make the conversion bigger” by engaging
with more developing countries beyond China and India.
Meanwhile, the final word fell to Ambassador Yoo: “The
world is facing the unprecedented crisis of the Covid-19
pandemic, economic recession and climate change. In order
to overcome this crisis, we need to, and we have to, give up
our old habits and have to develop our new habits.” While
government provides the strategy, it is civil society that
develops the ideas, and this is where development must begin.
2021 P4G Seoul Summit
The 2021 P4G Seoul Summit takes place on May
30-31, bringing heads of state, CEOs, and other key
global leaders to accelerate P4G’s unique impact model,
emboldening climate action for a more sustainable and
inclusive future. For more information, please visit
The 2021 P4G Seoul Summit is a key stepping-stone to
COP26 in November.
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 agendas
to scale breakthrough solutions in developing
countries to meet the Sustainable Development
Goals and the Paris Climate Agreement. P4G
mobilizes a global ecosystem of 12 partner
countries, five organizational partners, more
than 240 corporate and civil society partners
committed to delivering progress on the SDGs
and climate action commitments.
DIPLOMATMAGAZINE.COM } MAY/JUNE 2021