NEW DELHI: South Korean President Yoon Suk Yeol pledged an additional US$300 million to the Green Climate Fund (GCF) on Saturday as part of the country’s efforts to help counter climate change.
Yoon made the announcement during the first session of the Group of 20 (G20) summit, which is currently underway in New Delhi, reported Yonhap news agency.
The summit is being held under the theme “One Earth” to address climate change and environmental issues.
The GCF is an international organisation based in the South Korean port city of Incheon and tasked with assisting developing nations fight climate change.
“The Republic of Korea will play the role of a ‘green ladder’ to assist nations vulnerable to climate change,“ Yoon said, referring to South Korea by its formal name.
“We plan to additionally contribute US$300 million to the Green Climate Fund, and help developing nations’ adaptation to climate change and reduction of greenhouse gases,“ he said, calling for the G20’s active contribution to the fund.
South Korea has contributed funding twice — US$100 million in 2013 and US$200 million during the 2020-2023 fundraising period — making this the third time it will contribute to the fund.
Yoon said South Korea will also lead international cooperation for the transition to clean energy, such as by using its world-class nuclear power technology to assist countries seeking to reduce greenhouse gas emissions and strengthen energy security.
Furthermore, South Korea will step up its development of small modular reactors, and work with the international community to develop hydrogen technologies and establish related standards, he said.
According to Seoul’s presidential office, South Korea is currently the leading nation in the world in terms of the number of hydrogen vehicles in operation.-Bernama
