Environment, Green, News

UN Green Climate Fund HQ opens in Inchon City on Dec. 4

Cbanga360.Net - The Bicol Street Journal

Published         2 Dec , 2013      12:34 pm          471 views.

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LEGAZPI CITY — The United Nations Green Climate Fund (GCF) headquarters will formally open on Wednesday, December 4 with an inaugural dedication at 10:30 A.M. The center is located at the G-Tower of Songdo in Incheon City, South Korea.

The G-Tower building is specially designed for the GCF and other international organizations equipped with renewable energy facilities such as photovoltaic panels, solar water heaters and geothermal heating systems.

Established by the conference of the parties to the UN Framework Convention on Climate Change in December 2011, the GCF aims to help developing countries cushion the impacts of climate change.

Green Fund co-chair and Albay governor Joey Sarte Salceda will attend the occasion together with co-chair Manfred Konukiewitz; Oh-Seok Hyun, Finance Deputy Minister of the Republic of Korea; Hela Cheikhrouhou, GCF executive director; Jim Yong Kim, World Bank Group president; Christine Lagarde, International Monetary Fund managing director; Christiana Figueres, UNFCCC executive secretary; and Mayor Song Young Gil of Incheon Metropolitan City.

Salceda was elected co-chair of the US$ 100-billion UNGCF during its fifth meeting held in Paris, France, on Oct. 7-10, 2013 with the unanimous support of representatives from developing countries.

Salceda, said the 24-member GCF board oversees the operation of the Fund, which has pledges of US$ 100 billion by 2020, and approves the funding of projects in line with the Fund’s principles, criteria, modalities, policies and programs.

He said the Fund should prompt positive consequences in the lives of ordinary people.

With 2014 as the target for the operationalization of the Fund, the green economist and world-renowned investment consultant, aims to make the Fund work for developing countries, including small islands, developing states, least developed countries, Africa and highly vulnerable communities in countries like the Philippines, Indonesia and Bangladesh.

Salceda said his election as co-chairman of the Fund is a strong expression of confidence on the Philippines and further raises the country’s profile in the international community.(PNA)

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