[세종=뉴스핌] Reporter Lee Jeong-ah = The Ministry of Strategy and Finance announced on the 27th that it will hold a ‘Climate Change Response Investment Forum’ hosted by the Korea-United Nations Framework Convention on Climate Change at the Global Knowledge Cooperation Complex in Seoul on the 28th and 29th.
About 100 people will attend this event, including officials from the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat, officials from 11 Asian developing countries, development and financial institutions, major climate-related international organizations, and private companies.
According to the Ministry of Strategy and Finance, how to mobilize private financial resources to respond to climate change emerged as a major topic at the 29th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP29), which closed on the 24th.
Considering this trend, the Ministry of Strategy and Finance and the UN Climate Change Secretariat jointly held this event to explore ways to raise private finance for climate change response projects in developing countries in Asia.
On the 28th, we will examine the situation facing developing countries in Asia due to climate change and introduce what projects they are preparing.
Specifically, we will discuss how to transform areas such as water management, marine ecosystem, infrastructure, mobility, and agriculture into climate-friendly methods.
In addition, major development and financial institutions such as the Export-Import Bank, Korea Development Bank, and the German International Cooperation Agency promote their methods of raising funds.
On the 29th, we plan to introduce the business progress methods of major climate funds such as the Green Climate Fund and the Adaptation Fund.
This event is significant as it is the first event immediately following the 29th Conference of the Parties (COP29) to discuss ways to mobilize private finances in climate change response projects.
In particular, it is expected that Korean companies attending this event will have an opportunity to lay the foundation for overseas expansion through meetings with officials from developing countries and international organizations.
In this opening speech, the Ministry of Strategy and Finance plans to fulfill its role as an innovation hub to support climate change response in the Asian region.
In addition, we plan to disclose to participants the plan for improving the voluntary carbon mechanism and sign a letter of intent to cooperate (SOI) to prepare improvement plans with the Secretariat of the United Nations Framework Convention on Climate Change.
An official from the Ministry of Strategy and Finance said, “In preparation for the launch of the international carbon market, we will lay the foundation for cooperation with the United Nations Framework Convention on Climate Change Secretariat and developing countries in Asia.”
plum@newspim.com
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