Support to the Colombia Green Growth Policy

Project Summary:

This Korea Green Growth Trust Fund (KGGTF) grant helped to fund the implementation of Colombia’s 2014 plan by providing on-the-ground technical assistance and capacity building opportunities related to economic and regulatory analysis, efficient use of resources, and data collection.  In particular, this KGGTF grant helped Colombia prioritize policy work, build consensus around specific projects, and help create the necessary regulatory framework for implementation over the next 15 years.

List of Activities:

• Review of international experiences on GG strategies
• Review of GG indicators
• Analysis of macroeconomic trends of economic growth in Colombia, understanding key variables that boost this growth (drivers), the international context and the long-term perspectives
• Definition of a baseline scenario
• Development of the  GGPA
• Validation will be held with stakeholders
• Four to five rapid sector assessments to understand the challenges and opportunities in pursuing green growth in priority sectors
• GG Prospective for strategic indicators
• Development and deepening of thematic areas
• Prioritization of cross-cutting and sectoral policies
• Quantification of investments
• Selection of indicators and targets
• Evaluation of economic benefits of the GG approach
• Reforming of new economic tools, adjustments in existing instruments
• Discover opportunities to scale up GG in regions
• Validation of GG recommendations, actions and goals with Ministries and stakeholders
• Drafting policy document

Outcomes:

Output 1:

• 1-1. Lessons from best practices based on the review of international experiences, successful experiences on GG indicators  available.
• 1-2. Study on initial conditions and  macroeconomic potential and constraints of green growth in Colombia, Baseline scenario defined
• 1-3. Study on GG potential and key factors for an optimal GG pathway, including: (i) economic,  social and environmental indicators; (ii) international benchmarking of economic  performance; and, (iii) analysis of causes underlying growth performance, Workshop with key stakeholders, 3 Sector Assessments, Study on strategic indicators

Output 2:

• 2-1. Complementary study on GG issues in key thematic areas, List of prioritized cross-cutting and sectoral policies, Key GG investments identified and  quantified, Study on GG indicators and targets, Evaluation study on economic benefits of GG approach
• 2-2. Study on new economic tools for GG 
• Study on adjustments to be made in existing instruments focusing on feasible improvements
• 2-3. Detailed Program outline for GG STI
• 2-4. List of opportunities per region

Output 3:

• 3-1. Results of the validation of GG recommendations 
• 3-2. Specific GG policy proposals

Outcomes:

The main outcome was to identify the policy options that will enable green growth in Colombia in the next 15 years. The specific outcomes would be as follow: (i) prospective macroeconomic analysis and green growth potential of Colombia, (ii) estimated investments required to orient the country towards GG, (iii) proposal of economic instruments for Green Growth, (iv) GG indicators and targets for 2030, and (v) draft 2030 Green Growth Policy articulated with SDGs. The grant would also support a communications and engagement strategy to involve the private sector and the civil society in the green growth discussions as the project progresses over time.

Collaboration with K-Partners and Others:

• Internal WBG partners: GPSURR/Transport/Energy/Water/Governance
• K-Partners: Committee on Green Growth (CGG) and the Green Technology Center (GTC)
• Other external partners: KfW (German Bank)/AFD (French bank)/IADB/UNEP/GGGI