Govt, private sector collaborate on green growth

Government officials and members of the private sector met in Vientiane yesterday to discuss the challenges and opportunities for private sector engagement in green growth and climate change in Laos.
The meeting, titled Private Sector Engagement in Climate Change and Green Growth, is part of capacity building under the green urban development project.
The project is being implemented by the Ministry of Natural Resources and Environment in cooperation with Ministry of Public Works and Transport, with support from the Green Climate Fund through the Global Green Growth Institute to Laos.
The main activities of this project aim to promote participation by the private sector in addressing climate change and enhancing green growth.
Speaking at the meeting, Deputy Director General of the Climate Change Department, Ministry of Natural Resources and Environment, Mr Syamphone Sengchandala, said that mitigating the effects of climate change and promoting green growth required the transformation of the current development model to low-carbon development and environmentally friendly methods, as well as resistance to climate change. This necessitates huge investment and new innovations as well as transforming decision-making concerning investment by the private sector and government.
This means it’s important to bring the private sector together to mobilise resources, knowledge and new innovations to deal with climate change and promote green growth, Mr Syamphone said.
Meeting participants also heard about experiences in mobilising private sector engagement from international experts, and discussed the problems being encountered by the private sector.
In 2015, the Paris (Climate Change) Agreement was agreed to by more than 190 countries.
This agreement included three main goals. These related to keeping global warming well below 2C and pursuing a 1.5C limit, and increasing adaptive capacity and resilience to the unavoidable impacts of climate change, as well as making all financial flows consistent with a pathway towards low emissions and climate resilient development.
This means that the trillions of dollars and kip that are spent every year need to shift away from actions that exacerbate the climate change problem towards becoming part of the solution, according to the Ministry of Natural Resources and Environment.
Achieving these goals doesn’t just require action by governments, but involves individuals, companies, and governments.
The involvement of the private sector is essential to delivering these goals.
Globally, the private sector accounts for 85 percent of all investments worldwide and in developing countries 90 percent of people depend on the private sector to generate their income. Success in this mission depends on how well the public and private sectors can collaborate to pursue low-emission, climate resilient development.
Through its vision 2030, its 10 year strategy, its Climate Change Commitments, the Sustainable Development Goals and most recently its National Green Growth Strategy, the government of Laos has made ambitious commitments to achieve its long-term development goals by enhancing environmental protection, reducing poverty and inequality, decreasing waste and pollution, and increasing resilience to climate change and natural disasters.
Translating this vision into reality isn’t something the government can do alone, but requires that the private sector evolves and grows in a more sustainable, green direction.

By Siladda Souliyong
(Latest Update August 2, 2019)