Ex-UN chief urges green transition to drive growth, boost competitiveness
Ban Ki-moon, president and chair of the Global Green Growth Institute (GGGI), delivers welcoming remarks at the Global Green Growth Week Summit at the Westin Josun Seoul in central Seoul, Thursday. Yonhap
Seoul's finance minister touts carbon neutrality as way to create quality jobs
Ban Ki-moon, president and chair of the Global Green Growth Institute (GGGI), urged countries on Thursday to accelerate the shift toward a greener economy to secure long-term growth and strengthen their global competitiveness.
Speaking at the Global Green Growth Week (GGGW) Summit, the former U.N. secretary-general identified technological innovation, large scale capital mobilization and stronger international cooperation as three priorities for turning green transition commitments into tangible, measurable results.
“The green transition is an economic imperative, a strategic investment and an opportunity to create green jobs, strengthen energy security, improve public health and build more resilient societies,” Ban said in his welcoming remarks at the summit’s opening ceremony. “The countries that move decisively today will be better positioned to compete tomorrow.”
Ban called for a substantial increase in funding for the green transition, saying developing countries often struggle to turn viable projects into reality because they lack affordable financing and the expertise to secure investment.
“Public finance, development finance institutions and private investors must work together to develop stronger project pipelines, create innovative financing instruments and forge partnerships that transform ideas into bankable investments,” he said.
Established in 2012 on the occasion of the U.N. Conference on Sustainable Development, the GGGI helps countries pursue economic development while protecting the environment, reducing poverty and promoting social inclusion. The intergovernmental organization works with 55 member states and 30 partner countries and regional integration organizations, supporting projects in more than 57 countries.
GGGW opened in Seoul on Tuesday for a four-day run under the theme “Powering the race for green transformation: Technology, capital and global cooperation at scale.”
Thursday’s GGGW Summit, the week’s main high-level gathering, brought together participants including Ban, Korea’s Finance Minister Lee Hyoung-il and Climate Minister Kim Sung-hwan, Zambian Green Economy and Environment Minister Gilbert Siame and EU Ambassador to Korea Ugo Astuto.
Finance Minister Lee Hyoung-il delivers congratulatory remarks at the Global Green Growth Week Summit at the Westin Josun Seoul in central Seoul, Thursday. Courtesy of Ministry of Finance and Economy
In his congratulatory remarks, Lee said Korea’s Green Transformation (K-GX) strategy aims to make the shift toward carbon neutrality a catalyst for economic growth and quality job creation.
“The transition to a low carbon economy and the development of new industries should also create new technologies, attract investment and generate quality jobs. This is the vision behind the K-GX strategy,” Lee said. “Our goal is to create a virtuous cycle that turns carbon neutrality into new drivers for growth.”
He also pledged to deepen cooperation with the GGGI to develop new forms of international collaboration that support both environmental protection and economic growth.
“In this regard, the Global Verified Carbon Market (GVCM) developed with the GGGI is a promising example,” Lee said. “The GVCM aims to convert emission reductions in developing countries into high-integrity carbon credits that can be used internationally. This will support emission reductions while mobilizing more private investment for climate action.”
The first plenary session, “Reinventing global cooperation in a fragmented world,” explored how governments, businesses, philanthropic organizations and international institutions could forge new partnerships to tackle shared challenges amid geopolitical tensions, rising economic nationalism and shifting supply chains.
Speaking at the session, Kim described the climate crisis as a fundamental challenge to coexistence between humanity and nature. Citing the recent disaster in Nepal, he highlighted how countries that have contributed relatively little to carbon emissions often suffer disproportionately from the effects of climate change.
Climate Minister Kim Sung-hwan delivers a special address during the first plenary session of the 2026 Global Green Growth Summit at the Westin Josun Seoul in central Seoul, Thursday. Courtesy of Ministry of Climate, Energy and Environment
“I believe global challenges must be tackled collectively. The Earth will no longer wait for humanity,” Kim said. “If we are to avoid extinction like the dinosaurs, it is time to consider a stronger form of global democracy to address the climate crisis.”
Kim stressed that ending the fossil fuel era would require green technologies and industries to become more efficient and competitive than existing carbon-based systems. He said Korea would build on its manufacturing strengths, from steel to semiconductors, to pursue artificial intelligence (AI) transformation alongside green transformation and accelerate decarbonization across power generation, industry, transport and buildings.
The second plenary session, “Bankable is built by committed partnerships,” examined how the Korea Green New Deal Trust Fund helps partner countries develop and scale up green projects that can attract financing through cooperation with Korean institutions, private investors and multilateral development banks, including the Asian Development Bank.
The third plenary session, “Seeking a global green AI Partnership for a better world,” addressed surging electricity and water demand driven by AI expansion and explored ways to establish a Global Green AI Partnership to advance technological innovation while addressing its climate impact.
The fourth plenary session, the “Ban Ki-moon climate change high-level roundtable,” focused on turning climate commitments into joint action. Convened by the Ban Ki-moon Foundation for a Better Future, it highlighted closer cooperation and stronger climate governance among Korea, China and Japan as a way to support broader global efforts.