The Global Green Growth Institute (GGGI), a global institution that supports its members’ green economy transformation, will open an office in Luxembourg, building on its collaboration with the grand duchy.

Foreign affairs minister Jean AsselbornJean Asselborn (LSAP) signed an agreement with GGGI director general Frank Rijsberman that will provide the legal framework for the institution to open an office in Luxembourg. Collaboration between the grand duchy and the GGGI started in 2018 and includes circular economy and waste management projects in Senegal and Rwanda, among others, all financed by the environment ministry.

The agreement allows “the GGGI to fully benefit from the existing sustainable finance ecosystem in the grand duchy, while further strengthening the position of the grand duchy as an attractive and welcoming host state to international organisations,” stated Asselborn.

“With the growing demand for sustainable finance products from our members, the establishment of an office in Luxembourg is a major step to support investments toward low-carbon, resilient and inclusive projects,” said Rijsberman.

In 2021 the GGGI mobilised $4.7bn from domestic and international capital markets for climate change mitigation and green economic recovery.