Luxembourg Becomes 51st Member of Global Green Growth Institute

On Tuesday 6 May 2025, the Global Green Growth Institute (GGGI) welcomed Luxembourg as its 51st Member State, in a ceremony presided by Ban Ki-moon, President of the Assembly and Chair of the Council of GGGI, at an event held in the MUDAM Museum of Modern Art in Luxembourg-Kirchberg.

In a press release, Luxembourg’s Ministry of the Environment, Climate and Biodiversity, the Ministry of Finance and GGGI stated that Luxembourg’s membership adds value by building partnerships with developing and emerging economies among GGGI’s Member States and highlighting the vital role the financial sector plays in implementing climate adaptation and mitigation measures, to ensure sustainable development and economic resilience.

Attendees at the event included diplomats and representatives from the development, sustainability and financial sectors from Luxembourg, as well as neighbouring countries.

Ban Ki-moon reflected: “It’s a pleasure to welcome Luxembourg as an upcoming member after seven years of impactful collaboration with GGGI. We look forward to the next seven years and beyond for sustainable finance and green growth around the world” .

Initiated by the Ministry of Environment, Climate and Biodiversity in 2018, as part of Luxembourg's International Climate Finance Strategy (ICF), the first project in this cooperation aimed to improve climate resilience in rural Vanuatu by implementing solar-powered water pumps, training and developing a national-level climate funding mechanism.

The ministries added that following the initiation of projects in Senegal, Vietnam and Rwanda in 2023, Luxembourg and GGGI have extended support to Small Island Developing States (SIDS) that are among the most vulnerable to the impacts of climate change. Through the SIDS Climate Action Programme (SIDS-CAP), GGGI and Luxembourg are now advancing impactful climate adaptation and mitigation efforts in countries across the Pacific and the Caribbean.

“GGGI has been a strategic partner of the Ministry of Environment, Climate and Biodiversity since 2018, building real trust between institutions and delivering remarkable impact in the field of climate and biodiversity action and innovate sustainable finance in some of the most vulnerable countries around the world,” added Luxembourg’s Minister of the Environment, Climate and Biodiversity, Serge Wilmes.

In 2023, the Global Trust Fund on Sustainable Finance Instruments (GTF) was launched. Alongside the Luxembourg Stock Exchange, the GTF is reported to be leveraging capital markets and building country-level capacity for sustainable finance. This has resulted in the successful mobilisation of $2.1 billion in climate finance in its first two years, supporting projects in eighteen countries around the world. 

Climate action that has been financed by the thematic bonds supported by GTF include, amongst others, wastewater treatment in Cambodia, climate smart agriculture in Uzbekistan and renewable energy in Namibia.

In addition, following the inauguration of GGGI’s Luxembourg Office in 2023, at the Luxembourg House of Financial Technology (LHoFT), the local team has focused on sustainable finance and carbon pricing and on building connections and partnerships within Luxembourg’s dynamic financial ecosystem.

“Luxembourg’s upcoming membership to the GGGI reflects our strong and continued commitment to shaping a sustainable and inclusive global financial system. Through this strengthened partnership, we aim to deepen our contribution to innovative financial solutions that help unlock investment for climate resilience and green growth, especially in the most climate-vulnerable countries and regions,” emphasised Luxembourg's Finance Minister Gilles Roth.

As a result of the new membership, GGGI stated that it looked forward to further cooperation in support of low-carbon and climate-resilient development with the strategic engagement of the Luxembourg government.