Denmark to Host P4G Summit in October

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Stockholm (NordSIP) – Denmark will host the P4G summit in Copenhagen on the 19th and 20th of October, Prime Minister Lars Løkke Rasmussen reiterated during his visit to the World Economic Forum summit during this week’s UN General Assembly Monday, with the Danish Foreign Ministry now making further details available.

The P4G Partnering for Green Growth and the Global Goals 2030 Fund funds partnerships focused on agriculture and food, water, energy, cities and the circular economy and seeks to encourage alliances between business communities and governments, create joint financing and innovation platforms, develop agreed common standards for sustainable reporting, develop access to capital markets and offer bankable solutions for large-scale investment.

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The P4G alliance was launched at the last UNGA a year ago and besides Denmark includes China, Indonesia, Chile, Mexico, Ethiopia, Kenya, South Korea, Vietnam and the C40 network. It also involves the recently launched Danish SDG Investment Fund, which is expected to ensure investments worth $6 billion to help subtend green initiatives.

The point of the P4G summit in Copenhagen, which has been moved up from 28-29 November, is to accelerate the transition to a sustainable global economy. The goal is to deliver concrete solutions to the UN’s 17 Sustainable Development Goals and the Paris climate agreement, which set out a number of ambitious goals that the world’s governments cannot solve alone and requires, among other things, innovation and public-private cooperation. There will be a focus on financing the latter in order to provide market-driven and scalable solutions to food waste, ocean pollution, resource overload, water shortages, pollution and big city congestion.

The summit will include participants from 47 different countries, with Heads of State and Government from Vietnam, South Korea and the Netherlands in attendance as well as 15-20 ministers from a number of other relevant countries. In addition, top executives from partner organizations C40, WEF, the World Resources Institute and the Global Green Growth Institute will attend, each of which has unique competencies in sustainable development. A number of the largest companies in the world will be in attendance, including BlackRock, Unilever, IBM and BYD, alongside Danish companies Vestas, Novozymes, Maersk, Grundfos, Rockwool and COOP, which correspond to 41% of the C20 index. Over 100 civil society organisations and education institutions will also be represented.

“At the summit and through P4G, we will engage in the business of fulfilling the global goals that both sets the direction for a better, greener and freer world, and simultaneously has the potential for billions in business revenue,” said Finance Minister Kristian Jensen. “There is a need to mobilise private investment on a much larger scale and to develop new, innovative financing models. At the summit, we will discuss with investors and business leaders how good market-driven solutions can be scaled.”

On October 19th, Prime Minister Rasmussen will welcome Dansk Industri (the Confederation of Danish Industry), with the Ministries of Environment and Food, Energy, Climate, and Business and the City of Copenhagen will host a number of sessions on food and agriculture, water, energy, sustainable cities and circular economies.

On October 20th, the focus will be on political leadership at the global level, both for politicians and for global leaders from cities, businesses, civil society and educational institutions. Her Majesty the Queen will then host a dinner at Christiansborg for the dignitaries.

Image: Pexels

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