The U.N. Green Climate Fund (GCF) on Sunday welcomed South Korea's decision to additionally contribute US$300 million to the fund as part of the country's efforts to help combat climate change.
South Korean President Yoon Suk Yeol made the pledge a day earlier at the Group of 20 (G20) summit in New Delhi, saying the country will play the role of a "green ladder" to help countries vulnerable to climate change.
"This pledge is testament to Korea's commitment to global climate action and confidence in our resolve to support the most vulnerable communities and national ambitions. It sends a strong signal to other countries to follow Korea's lead," GCF Executive Director Mafalda Duarte said in a statement.
South Korea has already made two contributions to the fund -- $100 million in 2013 and $200 million during the 2020-23 fundraising period.
The GCF is the world's largest climate fund, based in the South Korean port city of Incheon, 30 kilometers west of Seoul, and tasked with helping developing nations fight climate change.
Source: Yonhap News Agency