On April 21, Deputy Minister for International Affairs Choi Ji-young met with Executive Director of the Green Climate Fund (GCF)* Mafalda Duarte at the Government Complex-Seoul to discuss ways to strengthen cooperation between Korea and the GCF.
* The Green Climate Fund (GCF): The world’s largest climate fund established in 2010 to support greenhouse gas reduction and climate change adaptation efforts in developing countries. Its Secretariat is headquartered in Songdo, Incheon.
Deputy Minister Choi emphasized the need to further enhance cooperation between Korea and the GCF. In this regard, he requested the GCF’s interest in designating Korean institutions – such as the Asian Forest Cooperation Organization (AFoCO)* – as accredited entities*. He also underlined the importance of expanding recruitment opportunities for Koreans across various levels, including senior positions and youth, in the GCF and of enhancing communication with Korean youth.
* Asian Forest Cooperation Organization (AFoCO): An international organization established in 2018 under the leadership of Korea to lead international forest-related issues in Asia, such as climate change and desertification.
* The GCF designates accredited entities to implement projects and channels funding to these institutions.
The GCF expressed its appreciation for Korea’s continued interest and expanding contributions, including the implementation of its $300 million contribution during the second replenishment period (2024 – 2027). The GCF also conveyed its intention to bolster partnership with Korea across a variety of areas through the collaboration with Korea’s accredited entities: Korea Development Bank, the Korea International Cooperation Agency, and SK Securities.
The Ministry of Economy and Finance and the GCF agreed to institutionalize their annual consultations and maintain close, ongoing communication in order to enhance their cooperation for the development of the GCF and the global response to climate change.
Please refer to the attached files.
