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Inauguration of the GCF and developing Strategy

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  • Inauguration of the GCF and developing Strategy
  • Noh, Hee-Jin
  • Korea Capital Market Institute


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Title Inauguration of the GCF and developing Strategy
Similar Titles
Material Type Reports
Author(English)

Noh, Hee-Jin

Publisher

[Seoul]:Korea Capital Market Institute

Date 2013-12
Series Title; No Capital Market Opinion
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Territorial Development < Environment
Official Aid < Development Assistance
Holding Korea Capital Market Institute

Abstract

The Green Climate Fund (GCF) secretariat was officially inaugurated on December 4, 2013 in Korea. The GCF is an international financial organization that uses funds collected from developed countries to help developing nations cut greenhouse emissions and adapt to climate change. The GCF will eventually become a comprehensive, systematic assistance body for developing nations through diverse financing sources (e.g., private and public financing, bilateral and multilateral financial support, and alternative finance tools). Especially, the GCF plans to use the private sector facility (PSF) to boost private financing. The prerequisite for the GCF to operate smoothly is to collect sufficient funds. The GCF must fully capitalize on the PSF so that private investments complement public funds, which are forecast to be not sufficient. (The rest omitted)