Expanded climate cooperation with the Global Green Growth Institute
The Swedish Energy Agency and the Global Green Growth Institute (GGGI) have entered into a formal cooperation agreement, aiming to support the implementation of emission reduction activities in line with Article 6 of the Paris Agreement.
H.E. Baduarbe Kankanamge Prabath Chandrakeerthi (Secretary to the Ministry of Environment, Sri Lanka), Alison Carlin (Climate Change and Environment Policy Unit Manager, Ministry of Foreign Affairs and Trade, New Zealand), Guri Storaas (Deputy Director General, Ministry of Climate and Environment, Norway), Madeleine Diouf Sarr (Director of Climate Change and Sustainable Finance, Ministry of Environment and Ecological Transition, Senegal), Fenella Aouane (Director and Head, Carbon Pricing, GGGI), H.E. Ban Ki Moon (President of the Assembly and Chair of the Council of GGGI & 8th Secretary-General of the United Nations), Sandra Lindström (Head of International Climate Cooperation, Swedish Energy Agency, Sweden) and Frank Rijsberman (Director-General, GGGI)
Through the new cooperation agreement, the Swedish Energy Agency has allocated SEK 300 million for a new carbon trust fund called the Article 6 Climate Cooperation Fund (ACCTIF), which will be managed by GGGI. The fund will support the development and implementation of climate projects that promote green technologies and capacity building in other countries, as well as contributing to the achievement of Sweden’s national climate targets. Sweden is the first country to establish a trust fund under GGGI’s new initiative, the Carbon Transaction Facility (CTF).
Furthermore, the Swedish Energy Agency has allocated SEK 50 million to GGGI’s recently established Article 6 Readiness Facility under the CTF, which will provide technical assistance and readiness support to GGGI member and partner countries.
Sandra Lindström, Head of International Climate Cooperation at the Swedish Energy Agency, states:
– Through this partnership, we are scaling up Sweden’s engagement in the carbon market, aiming to accelerate green growth development worldwide. GGGI brings valuable experience to this field and has relevant expertise to work with countries where mitigation activities can be implemented.
The Swedish Energy Agency has collaborated with GGGI since 2019.
