Korea to host UN climate change HQ
Incheon City chosen against keen competition
President Lee greets GCF board members (courtesy of the Presidential Office)
- Stephen Hong, Seoul
- Korea
- October 22, 2012
South Korea has been selected to host the headquarters of the new United Nations fund to combat climate change.
The UN-Green Climate Fund (GCF) secretariat will be based in Songdo International Business District, in Incheon City, the fund’s board announced on Saturday after a three-day meeting.
South Korea had been competing with five other countries, Germany, Mexico, Namibia, Poland and Switzerland for the right to host the secretariat. It emerged the victor after five rounds of voting.
The fund was launched during a UN climate meeting in Durban, South Africa, last year. It will provide as much as US$100 billion annually to assist poor countries and those most at risk from climate change by 2020, through investment from public and private sectors.
"We're very pleased to host the GCF secretariat," South Korean president Lee Myung-bak told journalists in Songdo on Saturday after the vote. He added that the fund has the scope to “become one of the world’s largest international agencies.”
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The UN-Green Climate Fund (GCF) secretariat will be based in Songdo International Business District, in Incheon City, the fund’s board announced on Saturday after a three-day meeting.
South Korea had been competing with five other countries, Germany, Mexico, Namibia, Poland and Switzerland for the right to host the secretariat. It emerged the victor after five rounds of voting.
The fund was launched during a UN climate meeting in Durban, South Africa, last year. It will provide as much as US$100 billion annually to assist poor countries and those most at risk from climate change by 2020, through investment from public and private sectors.
"We're very pleased to host the GCF secretariat," South Korean president Lee Myung-bak told journalists in Songdo on Saturday after the vote. He added that the fund has the scope to “become one of the world’s largest international agencies.”
Related reports
Country´s climate-fund demands too low
Durban climate change meeting is “the last chance"
