SUVA, FIJI – 22 November 2022 – Global Green Growth Institute (GGGI) signed a partnership agreement today with EIT Climate-KIC, supported by the Department of Foreign Affairs and Trade of Ireland (‘Irish Aid’), to deliver the Blue Economy ClimAccelerator program in the Pacific Islands. The five-month program will run from January to May 2023 and prioritize solutions that consider social inclusion, preservation and improvement of livelihoods while ensuring the environmental sustainability of oceans and coastal areas.
Climate change represents the single greatest threat to the livelihoods of the people living on low-lying, vulnerable countries. This is especially true for Pacific Islanders who reside in coastal communities spread throughout thousands of islands across the Pacific. In this region, climate change results in rising sea levels, intensified storms and droughts, ocean acidification and consequent damage to coral reefs and fisheries.
The accelerator program will provide grants of between EUR 5,000-10,000 to assist local entrepreneurs and start-ups that have innovative ideas to support the growth of maritime activities – including tourism, energy and mineral production, fishing, shipping, aquaculture, renewable energy, and port activity. These activities can help Small Island Developing States (SIDs) create sustainable income streams, providing a safety net to rebuild after disasters and boosting climate resilience.
“The Pacific Ocean is key to life, livelihoods and resilience in the Pacific Islands and GGGI is excited to partner with Climate-KIC in support of Coastal Resilience and the Blue Economy,” said Daniel Muñoz-Smith, GGGI’s Country Representative for Fiji, Kiribati, Tonga and Vanuatu. “Small businesses play a vital role in promoting economic growth and job creation in this important sector, and the Blue Economy ClimAccelerator program will offer promising and innovative blue enterprises with grants to make their plans for business growth a reality, thus scaling up their social and environmental impact.”
GGGI supports SIDS to sustainably achieve national development goals and Paris Agreement commitments by developing strategic frameworks and mobilizing finance to reduce greenhouse gas emissions, create green jobs, increase access to sustainable services and enhance resilience to climate change.
“We know that Pacific Island countries will be disproportionately impacted by the effects of climate change, which is why it is so important to support and strengthen innovation across the region – particularly in the Blue Economy. Through the Blue Economy ClimAccelerator we aim to not only support the growth of the most promising solutions in emerging Pacific Island nations, but also to work with our partners to grow the supporting ecosystem in the region,” says David Watt, Strategic Programmes Builder at EIT Climate-KIC.
EIT Climate-KIC has over a decade of experience using innovation and technology to create systems change and build the resilience of communities. The Blue Economy ClimAccelerator will run across multiple countries in the Pacific Islands and select up to 10 innovations from start-up teams, small and medium enterprises, or not-for-profits.
About Global Green Growth Institute
GGGI supports over 40 Members to deliver on the Sustainable Development Goals and the Nationally Determined Contributions to the Paris Agreement. Based in Seoul, Republic of Korea, GGGI is a, inter-governmental organization that supports developing country governments transition to a model of economic growth that is environmentally sustainable and socially inclusive. GGGI has a unique in-country presence and prominent role as a neutral, trusted advisor and strategic development partner embedded in Member and partner governments. These advisors are directly engaged with national governments in setting the strategic direction for national program development guided by a Country Planning Framework with the Government. GGGI’s operating model maximizes the potential to translate green growth strategies and policies (especially economic policies) into green investment plans, mobilizing green finance commitments. More on GGGI’s events, projects, and publications can be found on www.gggi.org and follow GGGI on Twitter and join us on Facebook, YouTube, and LinkedIn.
About the EIT Climate-KIC
EIT Climate-KIC is a Knowledge and Innovation Community (KIC), working to accelerate the transition to a zero-carbon, climate-resilient society. Supported by the European Institute of Innovation and Technology, EIT Climate-KIC identifies and supports innovation that helps society mitigate and adapt to climate change believing that a decarbonised, sustainable economy is not only necessary to prevent catastrophic climate change but presents a wealth of opportunities for business and society.
For more info: climate-kic.org
About the Department of Foreign Affairs and Trade of Ireland (‘Irish Aid’)
Ireland’s development cooperation programme aims to reduce poverty, hunger and humanitarian need, with a particular focus on sub-Saharan Africa. By supporting long term development and providing humanitarian assistance, Irish Aid is helping to build better futures for some of the world’s poorest communities.
For more info: https://www.irishaid.ie/