Mposha Intensifies Efforts to Attract Green Investments to Zambia at Korea meetings

Minister of Green Economy and Environment, Hon.Mike Elton Mposha, has informed Global Green Growth Institute (GGGI) Member States that Zambia is seeking strong international partnerships to scale up green investments into the country.

The Minister was addressing the joint sessions of GGGI’s 13 th Session of the Assembly and the 17 th Session of the Council at GGGI Headquarters in Seoul, Korea.

“Zambia looks forward to strengthening our relationship with GGGI and other member and partner countries to help us scale up green investments,” Hon. Mposha said.

The Minister highlighted that employing innovative instruments such as green bonds and debt-for-nature swaps would support funding for renewable energy and biodiversity conservation. He emphasized that Zambia’s ability to strategically utilize climate finance and its significant nature-based endowments would be crucial in becoming a low-carbon and green economy.
Hon. Mposha told the 48-member international grouping that Zambia is committed to utilising its abundant resources to develop a low-carbon, resource-efficient, resilient, and socially inclusive economy. “Our goal is to foster growth that is profitable, and environmentally and socially responsible,” he said. The Minister, however, expressed concern that despite Africa’s low
contribution to greenhouse gas emissions, the continent remains one of the most vulnerable to the adverse impacts of climate change.

Hon. Mposha noted that climate change poses systemic risks to African economies,infrastructure, water and food systems, public health, agriculture, and livelihoods, threatening to undo the continent’s modest development gains.GGGI President and Chairperson, His Excellency Mr. Ban Ki Moon, expressed gratitude to Hon.Mposha for conveying Zambia’s strong commitment to champion the interests of the African continent. “While working as Secretary-General [of the United Nations], I repeatedly said that without addressing the challenges of Africa, we will never be able to declare that we are living in a sustainable world. This is what I believe and what most member states believe, and we have to do much more for African development,” said Mr. Ban.

The GGGI, a treaty-based international organisation formed in 2012, is dedicated to promoting sustainable economic growth in developing countries and emerging economies. It has 48-member countries and is headquartered in Seoul, Korea. Zambia joined GGGI in 2023. Ministry of Green Economy and Environment permanent secretary Dr. Douty Chibamba, Zambia’s Ambassador to Korea His Excellency Andrew Bwezani Banda, and National Designated Authority (NDA) Coordinator Mr. Billy Katontoka are part of the Zambian delegation to GGGI’s 13 th Session of the Assembly and the 17 th Session of the Council at GGGI Headquarters in Seoul,
Korea.

Ministry of Green Economy and Environment, Communications Unit