GCF Board Meeting Held in Incheon from 16th to 20th... Resuming In-Person Meetings After COVID-19

Scenes from the '2019 GCF Private Investment Climate Conference' held at Grand Hyatt Yeongjong [Photo provided by Incheon City]

[Asia Economy Reporter Park Hyesook] The Green Climate Fund (GCF) Board of Directors, which had been held virtually since the COVID-19 pandemic, will be held in person for five days starting from the 16th at the Grand Hyatt Incheon.

The Incheon city government stated that due to social distancing and entry restrictions caused by COVID-19, the GCF Board meetings were held virtually, which limited project implementation; however, with the recent easing of quarantine guidelines, in-person board meetings have become possible.

The GCF is the world's largest international financial organization related to climate response, established to support climate adaptation and greenhouse gas reduction projects in developing countries to minimize various disasters and damages caused by accelerating climate change. The GCF Secretariat headquarters was established in 2013 in Songdo International City, Incheon.

At the 33rd GCF Board meeting, more than 350 participants including GCF Secretary-General Yannick Glemarec, Co-Chairs Jean-Christophe Donnellier and Tlo Emmanuel Lamaru, representatives from 48 board member countries, implementing entities, and observers will gather to discuss support projects for developing countries.

Through 32 previous board meetings, the GCF has supported 196 projects (totaling $38.9 billion) targeting developing countries in areas such as water resource management and eco-friendly energy supply projects, and it is estimated that these efforts have resulted in a reduction of approximately 2 billion tons of carbon dioxide (CO2).

An official from Incheon city said, "As this is the first large-scale international conference held since COVID-19, we will spare no effort to support smooth progress in cooperation with related organizations," adding, "Additionally, we will select local university student volunteers to provide them with experience participating in an international conference."

This content was produced with the assistance of AI translation services.