MOSCOW, November 17 (Sputnik) – The United Kingdom will provide 14.8 million pounds ($23.2 million) over three years to the Global Green Growth Institute (GGGI), a Seoul-based international organization adopting and implementing green growth plans in developing countries, the British Embassy in Seoul said Tuesday.
Green Growth Plans adopted by GGGI for developing countries provide an alternative to industrial economic growth and aim for sustainable economic growth without harming the environment.
According to the UK Embassy, low carbon development, one of the key principles of green growth plans, will help developing nations to lift their economies and overcome poverty.
"We cannot tackle climate change without reducing poverty and vice versa. Developing countries need better information on how to achieve environmental objectives without compromising growth and poverty reduction," British Ambassador Scott Wightman said after GGGI's Assembly and Council meeting held in Songdo, South Korea.
The Ambassador added that "new UK funding will enable GGGI to further expand its programs to support this important work, notably in the poorest countries of Africa".
GGGI is an independent international organization headquartered in Seoul with regional offices in Copenhagen and Abu Dhabi. The organization comprises influential environmental policymakers developing environmentally friendly plans for economic growth in developing countries. The United Kingdom has cooperated with GGGI since 2011 and became a founding member in 2012, when the organization obtained international status. Since 2011 the United Kingdom and Austria have funded the development of a Climate Resilient Green Economy (CRGE) Strategy that has been successfully implemented in Ethiopia.