Finance Minister Choo Kyung-ho (R) shaking hands with the Green Climate Fund’s Executive Director Mafalda Duarte in Seoul on Aug. 25, 2023. (Image provided by South Korea’s finance ministry)
SEOUL, Nov. 14 (Korea Bizwire) – South Korea will continue to play a key role in supporting developing nations’ responses to climate challenges as the Green Climate Fund (GCF) marked the 10th anniversary of the foundation this year, Seoul’s finance ministry said Tuesday.
Established in December 2013, the GCF has been the world’s largest climate fund dedicated to helping vulnerable countries take climate action. It is headquartered in Songdo of the South Korean western city of Incheon.
“The role and the leadership of the GCF have been and will be very crucial in dealing with urgent climate issues,” Finance Minister Choo Kyung-ho said in his opening speech during a ceremony in Songdo, which was read by the ministry’s spokesperson, Kim Sung-wook.
“South Korea will play the role of ‘a green ladder’ by supporting countries prone to climate change and will fully implement our pledge of contributing an additional US$300 million to the organization,” he added.
In September, President Yoon Suk Yeol pledged an additional $300 million to the GCF as part of the country’s efforts to help counter climate change.
The GCF has approved a total of 243 projects on low emissions and climate resilience in dozens of developing nation worth $51.8 billion so far, contributing around $13.5 billion, according to the ministry.
Tuesday’s ceremony to celebrate the anniversary brought together some 100 officials from home and abroad, including the GCF’s Executive Director Mafalda Duarte, Incheon Mayor Yoo Jeong-bok and Pakistan’s top envoy to South Korea Nabeel Munir, the ministry said.
(Yonhap)
