FINANCE

GCF board endorses $1.2b for projects to support climate actions

By Yonhap
  • Published : Oct 11, 2021 - 13:15
  • Updated : Oct 11, 2021 - 13:15

(Yonhap)
The Green Climate Fund (GCF), an international organization on fighting climate change, has approved $1.2 billion in funding for 13 new green energy projects, South Korea's finance ministry said Monday.

The board of the GCF, headquartered in Songdo of Incheon, west of Seoul, endorsed the funding plan for projects to help 44 emerging nations fight climate change, according to the Ministry of Economy and Finance.

The UN climate fund also approved a plan to increase the number of its staff members at its secretariat by 2023 to better cope with growing demand in green energy projects.

Launched in late 2010, the GCF aims to channel money from industrialized nations to developing countries to help them tackle climate change-related problems. (Yonhap)