The Green Climate Fund (GCF) Board wrapped up its second meeting on Saturday with a major decision: selecting Songdo City in South Korea to host the Fund. The decision, which was adopted by consensus of the Board, was greeted with joy by the Koreans, who spared no effort to provide an offer of the highest quality to earn the confidence of the Board. The UNFCCC Conference of Parties will have to endorse this decision at its next meeting in Doha later this year to confirm the selection.
The Host Country Will Play an Important Role
The GCF is expected to be instrumental in distributing the funds that will help developing nations adapt to and mitigate climate change. As the host country, South Korea now has the opportunity to play an important role in ensuring that the GCF fulfills this responsibility.